Deal Details

Initial Public Offering

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Summary

About

Garrison Capital Inc. (“Garrison” or the “Company”) (NASDAQ-GS: GARS) recently completed an initial public offering of 6,133,334 common shares at a price of $15.00 per share, generating gross proceeds of approximately $92.0 million. The Company intends to use the net proceeds from the offering for investments in line with its investment objectives and for general corporate purposes.

Garrison is a recently-organized, externally managed, non-diversified, closed-end management investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. The Company’s investment objective is to generate current income and capital appreciation by making investments generally in the range of $10 million to $25 million primarily in debt securities and loans of U.S. based middle-market companies, which it defines as those having annual EBITDA of between $5 million and $30 million. Garrison’s goal is to generate attractive risk-adjusted returns by assembling a broad portfolio of investments. It primarily invests in first lien senior secured loans, second lien senior secured loans, “one-stop” senior secured or “unitranche” loans, subordinated or mezzanine loans, and to a lesser extent, selected equity co-investments in middle-market companies.

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