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Garrison Capital Inc.
announced today the
pricing of the initial public offering of 5,333,334 shares of its common
stock at a public offering price of $15.00 per share, raising approximately
$80 million in gross proceeds. In addition, the Company has granted the
underwriters a 30-day option to purchase up to an additional 800,000 shares
of common stock to cover over-allotments, if any.
The Company's common stock is expected to begin trading on The NASDAQ Global Select Market under the symbol "GARS" on March 27, 2013. Robert W. Baird & Co., Incorporated and
Oppenheimer & Co. Inc. are serving as joint book-running managers. William
Blair & Company, L.L.C., Janney Montgomery Scott LLC, Stephens Inc. and
Wunderlich Securities, Inc. are serving as co-lead managers. J.J.B.
Hilliard, W.L. Lyons, LLC, Ladenburg Thalmann & Co. Inc., National
Securities Corporation, Capital One Southcoast, Inc. and Natixis Securities
Americas LLC are serving as co-managers. The shares are expected to be
delivered to investors on April 2, 2013.
The Company plans to invest the net proceeds of the offering in accordance
with its investment objective, which is to generate attractive risk-adjusted
returns by making investments primarily in debt securities and loans of U.S.
based middle-market companies, and for general corporate purposes.
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