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PennantPark Investment Corporation Prices 9M Share Public Offering at $10.82 per Share

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PennantPark Investment Corporation (NASDAQ: PNNT) announced that it has entered into an agreement to sell 9,000,000 shares of common stock at a public offering price of $10.82 per share, raising approximately $97,380,000 in gross proceeds. Morgan Stanley & Co. LLC, Goldman, Sachs & Co., J.P. Morgan Securities LLC and SunTrust Robinson Humphrey are acting as joint bookrunning underwriters. Credit Suisse Securities (USA) LLC, RBC Capital Markets, LLC and Stifel Nicolaus & Company Incorporated are acting as lead managers. Evercore Partners, FBR Capital Markets & Co., Janney Montgomery Scott LLC, Ladenburg Thalmann & Co. Inc. and ING Financial Markets 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 September 28, 2012. The Company also has granted the underwriters an option to purchase up to an additional 1,350,000 shares of common stock.

The Company expects to use the net proceeds to reduce outstanding indebtedness, to fund investments in accordance with its investment objectives, or for general corporate or strategic purposes.

Posted-In: News Offerings


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