FS Investment Corp. III has registered 106,675,012 common shares through its affiliate FS Investment Solutions LLC.
The proposed maximum offering price is $8.64 per share, for a maximum aggregate offering price of $921.7 million, estimated for calculating the registration fee.
The company said it may increase the per-share maximum offering price if the company's net asset value per share increases. If the company's net asset value per share drops 2.5% below its then-current net offering price, the company will lower the offering price per share to ensure it is no more than 2.5% above its net asset value per share.
FS Investment said the offering's proceeds will likely be used to make investments in private U.S. companies. The remainder of the proceeds will likely be used for working capital and general corporate purposes, including paying any operating expenses.