PennantPark Floating Rate Capital Ltd. Prices Public Offering of 4.4 Million Shares at $14.20

PennantPark Floating Rate Capital Ltd. (the "Company") PFLT announced that it has entered into an agreement to sell 4,400,000 shares of common stock at a public offering price of $14.20 per share, raising approximately $62,480,000 in gross proceeds. Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and Keefe, Bruyette & Woods, Inc. are acting as joint bookrunning underwriters. Janney Montgomery Scott LLC and JMP Securities LLC are acting as lead managers. Ladenburg Thalmann & Co. Inc. and Maxim Group LLC are acting as co-managers. The closing of the transaction is subject to customary closing conditions and the shares are expected to be delivered on July 19, 2013. The Company also has granted the underwriters an option to purchase up to an additional 660,000 shares of common stock to cover over-allotments, if any. The Company expects to use the net proceeds to reduce outstanding obligations under its credit facility, to invest in new or existing portfolio companies or for general corporate or strategic purposes. Investors are advised to carefully consider the investment objectives, risks and charges and expenses of the Company before investing. The prospectus supplement dated July 16, 2013 and the accompanying prospectus dated July 5, 2013, which have been filed with the Securities and Exchange Commission, contain this and other information about the Company and should be read carefully before investing. This press release does not constitute an offer to sell or the solicitation of an offer to buy 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.