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FS Investment Corp. III offering 400 million common shares

FS InvestmentCorp. III has filed a prospectus related to its offering, on acontinuous basis, of up to 400 million common shares.

In February, the company closed its continuous publicoffering of common stock to investors who purchase through the independentbroker/dealer channel. It is currently offering common shares only to investorswho purchase through the institutional channel and to certain affiliatedinvestors who purchase through the dealer manager, FS2 Capital Partners LLC.

The company intends to use net proceeds from the offering toprimarily invest in private U.S. companies. The remainder of the proceeds willbe used for working capital and general corporate purposes, including the paymentof operating expenses. Assuming the company sells the maximumnumber of shares registered in the offering, net proceeds are estimated to beabout $3.35 billion.