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Fidus Investment closes note offering

Fidus Investment Corp. has closed a public offering of 5.875% notes due Feb. 1, 2023, that resulted in net proceeds of approximately $41.8 million.

The company has also granted the underwriters an option to purchase an additional $6.5 million to cover overallotments.

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. Fidus can still re-borrow 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.