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HMS Income Fund offering $1.5B of common stock

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.