Contact Information: For More Information Contact: Aviv Efrat PennantPark Investment Corporation (212) 905-1000 Or visit us on the web at: www.pennantpark.com
PennantPark Investment Corporation Prices Public Offering
| Source: PennantPark Investment Corporation
NEW YORK, NY--(Marketwire - September 24, 2009) - PennantPark Investment Corporation (the
"Company") (NASDAQ : PNNT ) announced that it has entered into an agreement
to sell 4,300,000 shares of common stock at a public offering price of
$8.00 per share, raising approximately $34,400,000 in gross proceeds.
SunTrust Robinson Humphrey and BMO Capital Markets are acting as joint
bookrunners for the offering and Robert W. Baird & Co, FBR Capital Markets,
Keefe Bruyette & Woods, Stifel, Nicolaus & Company, Incorporated, ING
Wholesale and Natixis Bleichroeder Inc. 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 29, 2009. The
Company has also granted the underwriters an option to purchase up to an
additional 645,000 shares of common stock to cover over-allotments, if
any.
The Company expects to use the net proceeds for general corporate purposes,
including to repay outstanding indebtedness and to fund investments in
accordance with its investment objectives.
Investors are advised to carefully consider the investment objectives,
risks and charges and expenses of the Company before investing. The
prospectus supplement dated September 24, 2009 and the accompanying
prospectus dated September 22, 2009 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. A
registration statement relating to these securities was filed and has been
declared effective by the Securities and Exchange Commission.
The offering may be made only by means of a prospectus and a related
prospectus supplement, copies of which may be obtained from the joint
bookrunners. The principal business address of SunTrust Robinson Humphrey,
Inc. is 3333 Peachtree Road NE, Atlanta, GA 30326, Attn: Prospectus
Department, Phone: 404-926-5744, Email: prospectus@rhco.com. The principal
business address of BMO Capital Markets Corp. is 3 Times Square, New York,
NY 10036, Attn: Lori Begley, Phone: 212-885-4039, Email:
lori.begley@bmo.com.
About the Company
PennantPark Investment Corporation is a business development company which
principally invests in U.S. middle-market private companies in the form of
mezzanine debt, senior secured loans and equity investments. From time to
time, the Company may also invest in public companies whose securities are
thinly traded. PennantPark Investment Corporation is managed by PennantPark
Investment Advisers, LLC.
Forward-Looking Statements
Statements included herein may constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995.
These statements are not guarantees of future performance or results and
involve a number of risks and uncertainties. Actual results may differ
materially from those 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. The Company undertakes no duty
to update any forward-looking statements made herein.