Harvest Capital Credit Corporation Announces Closing of Initial Public Offering’s Overallotment Option
17 Mai 2013 - 5:21PM
Business Wire
Harvest Capital Credit Corporation (the “Company”) (NASDAQ:
HCAP) announced today that it has closed on the underwriters’
over-allotment option in connection with its previously announced
initial public offering. The underwriters exercised in full their
option to purchase an additional 433,333 shares of Harvest Capital
Credit Corporation common stock at the initial public offering
price of $15.00 per share, less underwriting discounts and
commissions. With this exercise, the Company sold in its initial
public offering a total of 3,833,333 shares of common stock for
total gross proceeds of approximately $57.5 million. The Company’s
shares began trading on the NASDAQ Capital Market under the symbol
“HCAP” on May 3, 2013.
Keefe, Bruyette & Woods, a Stifel Company; JMP Securities
and William Blair served as joint book-running managers. Janney
Montgomery Scott and Sterne Agee served as co-lead managers, and
Wunderlich Securities and Sandler O’Neill + Partners, L.P. served
as co-managers.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the shares in this offering nor
will there be any sale of the shares referred to in this press
release in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of such state or
jurisdiction. A registration statement relating to these securities
was filed and has been declared effective by the Securities and
Exchange Commission. This offering is being made solely by means of
a written prospectus forming part of the effective registration
statement, which may be obtained from the Prospectus Departments of
any of the following investment banks:
Keefe, Bruyette & Woods, Inc. Attn: Capital Markets 787 Seventh
Avenue, 4th Floor New York, NY 10019 (800) 966-1559 JMP
Securities LLC Attn: Equity Syndicate 600 Montgomery Street, Suite
1100 San Francisco, CA 94111 (415) 835-8900 William Blair
& Company, L.L.C. Attn: Prospectus Dept. 222 West Adams Street
Chicago, IL 60606 (312) 364-1600
Investors are advised to carefully consider the investment
objective, risks and charges and expenses of the Company before
investing. The prospectus dated May 2, 2013, which has been filed
with the Securities and Exchange Commission, contains this and
other information about the Company and should be read carefully
before investing. This prospectus also may be obtained on the
website of the U.S. Securities and Exchange Commission at
http://www.sec.gov.
About Harvest Capital Credit Corporation
Harvest Capital Credit Corporation (NASDAQ: HCAP) provides
customized financing solutions to privately held small and
mid-sized companies in the U.S., generally targeting companies with
annual revenues between $10 million and $100 million and annual
EBITDA between $2 million and $15 million. The company’s
investment objective is to generate both current income and capital
appreciation primarily by making direct investments in the form of
subordinated debt and, to a lesser extent, senior debt as well as
minority equity investments. Harvest Capital Credit Corporation is
externally managed and has elected to be treated as a business
development company under the Investment Company Act of 1940.
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