HMS IncomeFund Inc. is offering up to $1.5 billion of common stock on acontinuous basis, according to a prospectus.
The stock is being offered at $8.90 per share. If the offeringis fully subscribed, the company would receive net proceeds of $1.35 billion,excluding expenses, after commissions and fees.
The company plans to use the net proceeds to makeinvestments in accordance with its objectives, including in marketable securitiesand secured intermediate-term bank debt, as well as to pay operating expensesand other obligations.