Gladstone Capital to offer 2.5M shares
Public investment firm Gladstone Capital Corp. (Nasdaq: GLAD), which specializes in debt security investments, said that it will offer 2.5 million shares at $18.70 per share.
The small cap said it expects net proceeds from the offering to equate to approximately $43.7 million and will be used for the repayment of existing short-term debt under the company's line of credit.
Gladstone noted that its underwriter, Deutsche Bank Securities, has been granted an option, exercisable for 30 days, to purchase up to 375,000 additional shares of common stock to cover overallotments, if any.
The offering is expected to close on Oct. 19.
Shares of Gladstone Capital (GLAD) slid 2.03%, or $0.38, to $18.32 in pre-market trading. Shares of Gladstone Capital have been trading in the range of $17.30 to $25.37 for the past 52 weeks.
