Follow-on Offering

Technology & Services
Follow-on Offering

Summary

Baird served as joint book-running manager on this offering.

About

Fidus Investment Corporation (“Fidus” or the “Company”) (NASDAQ-GS: FDUS) recently completed a follow-on offering of 2,800,000 shares at a price of $16.65 per share, generating gross proceeds of approximately $46.6 million. Fidus has also granted the underwriters an option, exercisable for 30 days, to purchase up to 420,000 additional shares of common stock to cover over-allotments, if any. The Company intends to use the net proceeds from the offering to make investments in lower middle-market companies in accordance with its investment objective and strategies, to repay the outstanding indebtedness under its credit facility, to increase borrowing capacity under the Small Business Investment Company (“SBIC”) debenture program, and for working capital and general corporate purposes. The expansion of the Company’s utilization of the SBIC debenture program is subject to approval by the United States Small Business Administration.

Fidus provides customized debt and equity financing solutions to lower middle-market companies, which management generally defines as United States based companies with revenues between $10 million and $150 million. The Company’s investment objective is to provide attractive risk-adjusted returns by generating both current income from debt investments and capital appreciation from equity related investments. Fidus seeks to partner with business owners, management teams and financial sponsors by providing customized financing for change of ownership transactions, recapitalizations, strategic acquisitions, business expansion and other growth initiatives. Fidus is an externally managed, closed-end, non-diversified management investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. The Company is headquartered in Evanston, Illinois.

For additional information about this transaction, please contact:

Mark C. Micklem +1 (202) 303-1815
Ryan Engelhardt +1 (414) 298-2637
Aaron Sharabaika +1 (202) 303-1816
Katie Kasper +1 (414) 298-5991
Technology & Services
Follow-on Offering
Date
December 2016
Company
Fidus Investment Corporation
Transaction
M&A
Sectors
Technology & Services
Target Location
North America

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