Solar Senior Capital Ltd. (SUNS: Quote) said Tuesday that it has priced a public offering of 2 million shares of its common stock at a public offering price of $18.85 per share for total gross proceeds of $37.7 million.
In connection with the offering, the company has granted the underwriters for the offering a 30-day option to purchase up to an additional 300,000 shares of common stock.
The closing of the offering is expected to take place on January 18. The company plans to use the net proceeds from this offering to pay down outstanding indebtedness under its revolving credit facility, and for general corporate purposes, including working capital requirements. However, through reborrowing under its revolving credit facility, the company plans to make investments in debt securities consistent with its investment objective and for other general corporate purposes.
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by RTT Staff Writer
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