OFS Capital Corp. has priced a public offering of $43.5 million of its 6.50% notes due 2025.
The offering is expected to result in net proceeds of about $41.8 million, after deducting underwriting discounts and commissions and other expenses. The net proceeds from the offering would be about $48.1 million if the underwriters fully exercise the 30-day overallotment option to buy an additional $6.5 million aggregate principal amount of notes.
The notes will mature Oct. 31, 2025, and may be redeemed in whole or in part on or after Oct. 31, 2020.
OFS Capital plans to use the net proceeds of the offering to fund investments in debt and equity securities in accordance with its investment objective, and for other general corporate purposes.
OFS Capital also intends to use a part of the net proceeds to repay debt under its revolving credit facility.
Ladenburg Thalmann & Co. Inc., BB&T Capital Markets and Janney Montgomery Scott LLC are acting as joint book-running managers for the offering. B. Riley FBR Inc., Incapital LLC, National Securities Corp. and William Blair are acting as lead managers for the offering.