Fifth Street Finance Down 4% After Pricing Share Offering

Today, shares of Fifth Street Finance FSC are down more than 4% after the company priced a public offering of stock. The company today announced that it priced a public offering of 10,000,000 shares of its common stock. All shares are being offered by Fifth Street. Credit Suisse and RBC Capital Markets are acting as joint book-running managers for the offering. On January 20, 2012, the last reported sales price of Fifth Street's common stock on The NASDAQ Global Select Market was $10.56 per share. The closing of the transaction is subject to customary closing conditions and the shares are expected to be delivered on or about January 26, 2012. Fifth Street has also granted the underwriters an option to purchase up to an additional 1,500,000 shares of common stock to cover over-allotments, if any. Fifth Street intends to use substantially all of the net proceeds from this offering to make investments in small and mid-sized companies in accordance with its investment objective and strategies described in the prospectus supplement and accompanying prospectus and for general corporate purposes. Fifth Street may also use a portion of the net proceeds from this offering to repay its outstanding indebtedness.