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Solar Senior Capital Ltd. (Nasdaq: SUNS) has commenced a public offering of 2,000,000 shares of its common stock. In connection with the proposed offering, the Company intends to grant the underwriters for the offering a 30-day option to purchase up to an additional 300,000 shares of common stock.
The Company intends 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 intends to make investments in debt securities consistent with its investment objective and for other general corporate purposes.
Citigroup is acting as lead book-runner for this offering. RBC Capital Markets is acting as a book-runner, and the co-managers are JMP Securities LLC and Ladenburg Thalmann & Co. Inc.
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