|
FOR IMMEDIATE RELEASE:
July 10, 2002
Contact:
John Erickson, Chief Financial Officer (301) 951-6122
Brian Maney, Director, Corporate Communications (301) 951-6122
AMERICAN CAPITAL COMPLETES $77 MILLION EQUITY OFFERING
Bethesda, MD - July 10, 2002 - American Capital Strategies Ltd. (Nasdaq:ACAS) announced today that the company has sold 2.9 million shares of common stock to the public at $26.50 per share for total gross proceeds of approximately $76.9 million. The offering was underwritten by Salomon Smith Barney and Wachovia Securities. American Capital has granted the underwriters an option to purchase 435,000 shares at $26.50 per share to cover over-allotments.
American Capital is a publicly traded buyout and mezzanine fund. American Capital is an equity partner in management and employee buyouts; invests in debt and equity of companies led by private equity firms, and provides capital directly to private and small public companies. American Capital funds growth, acquisitions and recapitalizations. The Company has paid $8.98 per share in dividends since going public in 1997.
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. 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.
|
