Stock Offerings: Fifth Street Finance - TheStreet



) --

Fifth Street Finance


shares traded lower after the specialty finance company priced a public offering of public stock at a 5% discount to Tuesday's closing price.

Fifth Street Finance

said it priced an offering of 8 million shares of common stock at $11.50 per share, below Tuesday's closing price of $12.10. Underwriters were given an option to purchase up to an additional 1.2 million shares to cover overallotments, if any. Fifth Street Finance said net proceeds will be used to make investments in small and mid-sized companies.

Shares of Fifth Street Finance were down 5.5% to $11.44. Volume topped 1.19 million shares in the first few minutes of trading, compared to the average daily share volume of 531,000.


Boston Private Financial Holdings

(BPFH) - Get Report

said it has priced a public offering of 4.1 million shares of common stock at $6.10 per share, good for gross proceeds of $25 million. Underwriters were granted the option to purchase up to an additional 615,000 shares. Net proceeds will be used to strengthen the quality of its capital base and to support the redemption of its remaining TARP securities.

Shares of Boston Private Financial Holdings jumped on the news, rising 9% to $6.68.

Rubicon Technology

(RBCN) - Get Report

priced an offering of approximately 2.6 million shares of common stock at $30 per share. Rubicon is offering 1.8 million shares, while selling shareholders are offering the remaining 834,000 shares. Rubicon said net proceeds of approximately $50.2 million will be used to expand its crystal growth and post crystal growth manufacturing facilities. The company will not receive proceeds from the sale of shares by selling shareholders.

Rubicon shares were down 2% to $30.86.

Universal Travel

( UTA) shares dropped 8.6% after the company priced a $20 million offering of common stock at $7 per share. The company said proceeds from the offering will be used to fund the cash portion of the four recently announced acquisitions and for working capital. Shares of Universal Travel fell 67 cents to $7.11.

MHI Hospitality

( MDH) filed for a $125 million common stock offering, news that sent the company's stock down 5% to $2.49.

On the other hand,



shares rose after the company announced a registered direct offering of approximately 6.15 million shares of common stock at $6.51 per share. Proceeds will be used for general corporate purposes, including clinical trials, preclinical research expenses, general and administrative expenses and for working capital.

Pharmacyclics shares were climbing by 10.5% to $7.19.

AEterna Zentaris

(AEZS) - Get Report

shares, meanwhile, dropped 9.9% to $1.18 after the company said it will raise $12.1 million in a registered direct offering with institutional investors.

AEterna Zentaris said it will sell approximately 8.8 million common shares at a price of $1.3725 per share to and issue warrants to acquire an aggregate of approximately 4.4 million common shares at an exercise price of $1.3725 per share.

In IPO news,



priced its initial offering of 7.5 million shares of common stock at $9 per share, which is at the bottom of its projected range. The communications software company will raise $67.5 million through the IPO.

-- Written by Robert Holmes in Boston


Follow Robert Holmes on


and become a fan of on