Bethesda, MD -- American Capital Strategies, Ltd. (Nasdaq:ACAS) announced today that the company has sold 2.7 million shares of its common stock at $21.75 per share for total gross proceeds of approximately $58.7 million. With this offering, American Capital now has over $700 million in capital resources, including availability under a $225 million revolving credit facility.
Lead underwriter was First Union Securities, Inc. Co-underwriters were Legg Mason Wood Walker Incorporated, BB&T Capital Markets, and Friedman Billings Ramsey.
American Capital has granted the underwriters an option to purchase 405,000 shares at $21.75 per share to cover over-allotments.
American Capital has paid a $1.90 per share dividend over the past four quarters, a 9% increase over the prior four quarters.
Click here for more information about the Company's dividend history.
American Capital is a publicly traded buyout and mezzanine fund. ACAS acts as an equity partner in management and employee buyouts; invests in debt and equity in support of companies led by private equity firms, and makes direct investments in private and small public companies. American Capital funds growth, acquisitions and recapitalizations.
Companies interested in learning more about American Capital's flexible financing and ability to provide senior debt, subordinated debt and equity should contact Mark Opel, Principal, at (800) 248-9340, or visit our website.This press release is neither an offer to sell nor a solicitation of an offer to buy shares. Such an offer is made by prospectus only. This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The statements regarding expected results of American Capital Strategies 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, or changes in the conditions of the industries in which American Capital has made investments.
