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By Preferred Stock Channel Staff, updated Sunday, March 15, 9:52 PM
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Preferred Stock Offerings
| This Slide: #496 of 664 |
Slide #496. Gladstone Capital Corporation — Preferred Stock Offering
Company:
Gladstone Capital Corporation (NASDAQ:GLAD)
Date announced:
5/12/2014
Shares Offered:
2,200,000
Date of Pricing:
5/14/2014
Price Per Share:
$25.00
Preferred Stock Offering Details:
Gladstone Capital Corporation announced that it plans to sell shares of its newly designated Series 2021 Term Preferred Shares (the "Series 2021 Term Preferred Shares") in an underwritten public offering. The public offering price and other terms are to be determined by negotiations between the Company and the underwriters. The Company also plans to grant the underwriters a 30-day option to purchase additional shares of the Series 2021 Term Preferred Shares on the same terms and conditions to cover over-allotments, if any. Janney Montgomery Scott LLC and Sterne, Agee & Leach, Inc. are serving as joint book-running managers. J.J.B. Hilliard, W.L. Lyons, LLC, Wunderlich Securities, Inc., LLC, Boenning & Scattergood, Inc., Ladenburg Thalmann & Co. Inc. and Maxim Group LLC are serving as co-managers for the offering.
Gladstone Capital Corporation is a closed-end, non-diversified management investment company focused on achieving and growing current income by investing in debt securities of established lower middle market companies in the U.S. These companies typically have annual EBITDA of $3 million to $15 million. The goal is to provide stable earnings and cash flow to cover expenses, service debt, and make growing distributions to stockholders. Additionally, the company aims for long-term capital appreciation by investing in equity securities of businesses that can grow over time. It is externally managed by Gladstone Management Corporation.
Preferred: GLADP
Open the GLAD Page at Preferred Stock Channel »
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Avg. Broker Rec.
 
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Buy (3.14 out of 4) 76th percentile
(ranked higher than approx. 76% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
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