BlackRock Kelso Capital has priced its public offering of 7.5 million shares of its common stock at an offering price of USD10.25 per share, raising USD76.9m of gross proceeds.
The company has granted the underwriters an option to purchase up to an additional 1.125 million shares to cover over-allotments, if any.
The offering is subject to customary closing conditions and is expected to close on 22 June 2010.
The company expects to use the net proceeds of this offering to make investments in portfolio companies, repay indebtedness owed under its credit facility, and for general corporate purposes.
Citi, BofA Merrill Lynch, Credit Suisse and UBS Investment Bank are joint bookrunning managers for the offering. BMO Capital Markets is lead manager. Lazard Capital Markets is co-manager.
BlackRock Kelso Capital is a business development company formed in early 2005 by its management team, BlackRock and principals of Kelso & Company to provide debt and equity capital to middle-market companies.
