Fifth Street Finance Corp. Prices Public Offering Of Common Stock

WHITE PLAINS, N.Y., Sept. 19, 2013 (GLOBE NEWSWIRE) -- Fifth Street Finance Corp. (Nasdaq:FSC) ("Fifth Street") today announced that it has priced a public offering of 15,500,000 shares of its common stock at a public offering price of $10.31 per share for total gross proceeds of $159,805,000. All shares are being offered by Fifth Street. Morgan Stanley, Wells Fargo Securities, Goldman, Sachs & Co., J.P. Morgan, Barclays and Deutsche Bank Securities are acting as lead book-running managers for the offering, RBC Capital Markets, UBS Investment Bank, Keefe, Bruyette & Woods, a Stifel company, and Oppenheimer & Co. are acting as joint book-running managers for the offering and SMBC Nikko, Maxim Group LLC and National Securities Corporation are acting as co-managers for the offering.

The closing of the offering is subject to customary closing conditions and the shares are expected to be delivered on or about September 26, 2013. Fifth Street has also granted the underwriters an option to purchase up to an additional 2,325,000 shares of common stock.

Fifth Street intends to use the net proceeds from this offering to repay debt outstanding under its credit facilities. However, through re-borrowing under its credit facilities, it intends to make investments in small and mid-sized companies in accordance with its investment objective and strategies described in the prospectus supplement and accompanying prospectus and may use such funds for general corporate purposes.

The offering is being made pursuant to Fifth Street's existing effective shelf registration statement on Form N-2 previously filed with the Securities and Exchange Commission. The offering will be made only by means of a prospectus supplement and accompanying prospectus, copies of which, when available, may be obtained from: Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, New York 10014 (Attn: Prospectus Department, tel: (866) 718-1649 or prospectus@morganstanley.com); Wells Fargo Securities, LLC, 375 Park Avenue, New York, New York 10152 (Attn: Equity Syndicate Department, tel: (800) 326-5897 or cmclientsupport@wellsfargo.com); Goldman, Sachs & Co., 200 West Street, New York, New York 10282 (Attn: Prospectus Department, tel: (866) 471-2526 or prospectus-ny@ny.email.gs.com); J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 (Attn: Prospectus Department or tel: (866) 803-9204); Barclays Capital Inc. c/o Broadridge Financial Solutions, 1155 Long Island Ave., Edgewood, New York 11717 (tel: (888) 603-5847 or barclaysprospectus@broadridge.com); and Deutsche Bank Securities Inc., 60 Wall Street, New York, New York 10005 (Attn: Prospectus Group, tel: (800) 503-4611 or prospectus.cpdg@db.com ). Investors are advised to carefully consider the investment objective, risks, charges and expenses of Fifth Street before investing. The prospectus supplement and accompanying prospectus contain a description of these matters and other important information about Fifth Street and should be read carefully before investing.

This press release does not constitute an offer to sell or a solicitation of an offer to buy nor will there be any sale of the shares referred to in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.

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