Underwriters in Fidus Investment Corp.'s public offering of 5.875% notes due Feb. 1, 2023, fully exercised their overallotment option, buying the allotted $6.5 million of additional notes.

The total net proceeds to the company from the offering is around $48.1 million, after deducting payment of underwriting discounts and commissions and estimated offering expenses payable by the company.

The notes started trading on the Nasdaq Global Select Market under the trading symbol FDUSL on Feb. 5, and the additional notes will trade with the existing notes under the same trading symbol.

Fidus plans to use the net proceeds to repay outstanding debt under its existing credit facility with ING Capital LLC, an affiliate of an underwriter in the offering. The company can still reborrow from the credit facility and use those borrowings to invest in lower-middle-market companies or for working capital and general corporate purposes.

Keefe Bruyette & Woods is the sole book runner for the offering. Janney Montgomery Scott LLC and Oppenheimer & Co. Inc. are co-leads for the offering. B. Riley FBR Inc., BB&T Capital Markets, Ladenburg Thalmann & Co. Inc. and ING Financial Markets LLC are co-managers.