CHICAGO--(BUSINESS WIRE)--
OFS Capital Corporation (the "Company") (Nasdaq:OFS) announced today
that it has commenced an underwritten offering of 3,500,000 shares of
its common stock. In connection with the proposed offering, the Company
intends to grant the underwriters for the offering an option to purchase
up to an additional 525,000 shares of the Company's common stock. The
Company's investment adviser, OFS Capital Management, LLC, has agreed to
bear the sales load payable to the underwriters.
The Company intends to use the net proceeds of the offering for new
investments in portfolio companies in accordance with its investment
objective and strategies and for general working capital purposes,
including to temporarily repay indebtedness (which will be subject to
re-borrowing), and other working capital needs. The Company also will
pay expenses, including advisory and administrative fees and expenses,
and may pay other expenses such as due diligence expenses of potential
new investments, from the net proceeds of the offering.
The book-running managers for the offering are Morgan Stanley & Co. LLC,
UBS Investment Bank, Citigroup Global Markets Inc. and J.P. Morgan
Securities LLC. The lead managers for the offering are Janney Montgomery
Scott LLC and Ladenburg Thalmann & Co. Inc. The co-managers are Aegis
Capital Corp. and National Securities Corporation.
Investors are advised to carefully consider the investment objectives,
risks and charges and expenses of the Company before investing. The
preliminary prospectus supplement, dated March 29, 2017, and
accompanying prospectus, dated July 1, 2016, each of which has been
filed with the Securities and Exchange Commission, contain a description
of these matters and other important information about the Company and
should be read carefully before investing.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the securities in this offering or any
other securities nor will there be any sale of these securities or any
other securities 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.
A shelf registration statement relating to these securities is on file
with and has been declared effective by the Securities and Exchange
Commission. The offering may be made only by means of a prospectus and a
related prospectus supplement, copies of which may be obtained, when
available, from Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor,
New York, NY 10014 , UBS Securities LLC, Attention: Prospectus
Department, 1285 Avenue of the Americas, New York, NY 10019, or by
telephone: (888) 827-7275, Citigroup Global Markets Inc., c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by
telephone: (800) 831-9146, and J.P. Morgan Securities LLC, c/o
Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, New
York 11717, Attention: Prospectus Group, telephone: (866) 803-9204.
About OFS Capital Corporation
OFS Capital Corporation is an externally managed, closed-end,
non-diversified management investment company that has elected to be
regulated as a business development company. OFS Capital's investment
objective is to provide stockholders with both current income and
capital appreciation primarily through debt investments and, to a lesser
extent, equity investments. OFS Capital invests primarily in privately
held middle-market companies in the United States, including
lower-middle-market companies, targeting investments of $3 to $20
million in companies with annual EBITDA between $3 million and $50
million. OFS Capital offers flexible solutions through a variety of
asset classes including senior secured loans, which includes first-lien,
second-lien and unitranche loans, as well as subordinated loans and, to
a lesser extent, warrants and other equity securities. OFS Capital's
investment activities are managed by OFS Capital Management, LLC, an
investment adviser registered under the Investment Advisers Act of 1940
and headquartered in Chicago, Illinois, with additional offices in New
York and Los Angeles.
Forward-Looking Statements
Statements included herein may constitute "forward-looking statements",
which relate to future events or our future operations, performance or
financial condition. Forward-looking statements include statements
regarding our intentions related to the offering discussed in this press
release, including the use of proceeds from the offering. These
statements are not guarantees of future performance, condition or
results and involve a number of risks and uncertainties. Actual results
and outcomes may differ materially from those anticipated in the
forward-looking statements as a result of a variety of factors,
including those described from time to time in our filings with the
Securities and Exchange Commission or factors that are beyond our
control. The Company undertakes no obligation to publicly update or
revise any forward-looking statements made herein. All forward-looking
statements speak only as of the time of this press release.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170329006171/en/
INVESTOR RELATIONS:
OFS Capital Corporation
Steve Altebrando,
646-652-8473
saltebrando@ofsmanagement.com
Source: OFS Capital Corporation
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