NEW YORK, May 7, 2020 /PRNewswire/ -- Golub Capital
BDC, Inc. (NASDAQ: GBDC) ("we," "us," "our," "GBDC" or the
"Company") announced the expiration of its transferable rights
offering, which entitled holders of rights to purchase one share of
common stock for every right held at a subscription price of
$9.17 per share. The rights offering
expired on May 6, 2020 at
5:00 p.m., New York City time. Wells Fargo Securities,
LLC acted as lead dealer manager for the offering. J.P.
Morgan and Morgan Stanley & Co. LLC acted as co-dealer managers
for the offering.
"We are pleased the rights offering was over-subscribed and
thank our shareholders for their continued strong support. We
believe this new capital is a strategic resource that will create
opportunities for GBDC," said David B. Golub, Chief Executive
Officer of the Company.
Preliminary results indicate that the rights offering was
meaningfully over-subscribed. The Company received
subscriptions for over 55 million shares accompanied by estimated
payments and additional subscriptions for over 10 million shares by
notice of guaranteed delivery. The Company cannot assure you
that it will receive payments for the more than 10 million shares
subscribed for by notice of guaranteed delivery on or before
5:00 pm New
York City time on May 8, 2020
and, as a result, the number of shares subscribed for could be
less. The exact number of shares of common stock subscribed for
will be determined on or around May 15,
2020 but in no event will the Company issue more than
33,451,902 shares pursuant to the subscriptions as set forth in the
prospectus. Proration of any available over-subscription
shares will be made in accordance with the procedures described in
the prospectus for the rights offering and confirmations of shares
purchased will be mailed to participants on or before May 21, 2020. Any excess payment to be refunded
to a participating rights holder will be mailed by the subscription
agent to the rights holder as promptly as practicable after the
confirmations are sent to the participants. No interest will be
paid on any amounts refunded.
The subscription agent will send participants in the rights
offering a confirmation showing the number of shares purchased
pursuant to the basic subscription, the number of shares, if any,
acquired pursuant to the over-subscription privilege, the per share
and total purchase price for such shares, and any additional amount
payable to the Company by the participating rights holder or any
excess refunded by the Company to the participating rights holder,
in each case based on the subscription price.
ABOUT GOLUB CAPITAL BDC, INC.
Golub Capital BDC, Inc. is an externally-managed,
non-diversified closed-end management investment company that has
elected to be treated as a business development company under the
Investment Company Act of 1940. Golub Capital BDC Inc. invests
primarily in one-stop and other senior secured loans of U.S.
middle-market companies that are often sponsored by private equity
investors. Golub Capital BDC, Inc.'s investment activities are
managed by its investment adviser, GC Advisors LLC, an affiliate of
the Golub Capital group of companies ("Golub Capital").
ABOUT GOLUB CAPITAL
Golub Capital is a market-leading, award-winning direct lender
and credit asset manager, with over $30
billion of capital under management. Golub Capital
specializes in delivering reliable, creative and compelling
financing solutions to middle market companies backed by private
equity sponsors. The firm's credit expertise also forms the
foundation of its Late Stage Lending business and its Broadly
Syndicated Loan investment program. Across its activities, Golub
Capital nurtures long-term, win-win partnerships that inspire
repeat business from its private equity sponsor clients and
investors. Founded over 25 years ago, Golub Capital today has over
500 employees and lending offices in Chicago, New
York, San Francisco and
London.
FORWARD-LOOKING STATEMENTS
This press release may contain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Statements other than statements of historical facts
included in this press release may constitute forward-looking
statements and are not guarantees of future performance or results
and involve a number of risks and uncertainties. Actual results may
differ materially from those expressed or implied in the
forward-looking statements as a result of a number of factors,
including those described from time to time in filings with the
Securities and Exchange Commission. Golub Capital BDC, Inc.
undertakes no duty to update any forward-looking statement made
herein. All forward-looking statements speak only as of the date of
this press release.
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SOURCE Golub Capital BDC, Inc.