American Capital Prices $167 Million Equity Offering
25 5월 2004 - 11:01AM
PR Newswire (US)
American Capital Prices $167 Million Equity Offering BETHESDA, Md.,
May 24 /PRNewswire-FirstCall/ -- American Capital Strategies Ltd.
announced today that the Company has priced an offering of 6.5
million shares of common stock to the public at $25.71 per share
for total gross proceeds of approximately $167 million. Citigroup,
Wachovia Securities, J.P. Morgan Securities Inc. and UBS Securities
LLC are the underwriters. Citigroup is acting as book-running
manager of the offering. American Capital has granted the
underwriters an option to purchase an additional 975,000 shares
with a public offering price of $25.71 to cover over-allotments.
Substantially all of the net proceeds of the offering will be
applied to reduce the borrowings under American Capital's existing
credit facilities. This will create availability under these
facilities, which will generally be available for funding future
American Capital investments. As of April 30, 2004, American
Capital shareholders have enjoyed a total return of 213% since the
Company's IPO -- an annualized return of 19%, assuming reinvestment
of dividends. American Capital has declared a total of $14.52 per
share in dividends since its August 1997 IPO. American Capital is a
publicly traded buyout and mezzanine fund with capital resources of
approximately $3 billion. American Capital is an investor in and
sponsor of management and employee buyouts; invests in private
equity sponsored buyouts, and provides capital directly to private
and small public companies. American Capital provides senior debt,
mezzanine debt and equity to fund growth, acquisitions and
recapitalizations. Companies interested in learning more about
American Capital's flexible financing should contact Mark Opel,
Principal, at (800) 248-9340, or visit our website at
http://www.americancapital.com/. All shares of common stock will be
offered under American Capital's existing shelf registration
statement filed with the Securities and Exchange Commission. This
press release is neither an offer to sell nor a solicitation of an
offer to buy shares of common stock. The offering of these
securities will be made only by means of a prospectus. When
available, copies of the prospectus may be obtained from Citigroup
Global Markets Inc, 140 58th Street, 8th Floor, Brooklyn, New York
11220 (telephone number: 718-765-6732). This press release contains
forward-looking statements. The statements regarding American
Capital are subject to various factors and uncertainties, including
the uncertainties associated with the timing of transaction
closings, changes in interest rates, availability of transactions,
changes in regional or national economic conditions, and changes in
the conditions of the industries in which American Capital has made
investments. DATASOURCE: American Capital Strategies Ltd. CONTACT:
John Erickson, Chief Financial Officer of American Capital
Strategies Ltd., +1-301-951-6122 Web site:
http://www.americancapital.com/
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