Contact Information: For More Information Contact: Aviv Efrat PennantPark Investment Corporation (212) 905-1000 Or visit us on the web at: www.pennantpark.com
PennantPark Investment Corporation Announces Public Offering
| Source: PennantPark Investment Corporation
NEW YORK, NY--(Marketwire - September 22, 2009) - PennantPark Investment Corporation (the
"Company") (NASDAQ : PNNT ) announced that it plans to make a public offering
of 8,000,000 shares of its common stock. The Company has also granted the
underwriters an option to purchase up to an additional 1,200,000 shares of
common stock to cover over-allotments, if any. The offering price of the
shares will be determined by market conditions at the time of pricing in
consultation with the underwriters of the offering. The offering of the
shares will be made under the Company's shelf registration statement, which
was filed with, and has been declared effective by, the Securities and
Exchange Commission.
The Company expects to use the net proceeds for general corporate purposes,
including to repay outstanding indebtedness and to fund investments in
accordance with its investment objectives.
SunTrust Robinson Humphrey and BMO Capital Markets are acting as joint
bookrunners for the offering and Robert W. Baird & Co., FBR Capital
Markets, Keefe Bruyette & Woods, Stifel Nicholas, ING Wholesale and Natixis
Bleichroeder Inc. are acting as co-managers.
Investors are advised to carefully consider the investment objectives,
risks and charges and expenses of the Company before investing. The
prospectus supplement dated September 22, 2009 and the accompanying
prospectus dated September 22, 2009, which have been filed with the
Securities and Exchange Commission, contain this and other information
about the Company and should be read carefully before investing.
This press release does not constitute an offer to sell or the solicitation
of an offer to buy nor will there be any sale of the shares referred to in
this press release in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of such state or jurisdiction. A
registration statement relating to these securities was filed and has been
declared effective by the Securities and Exchange Commission.
The offering may be made only by means of a prospectus and a related
prospectus supplement, copies of which may be obtained from the joint
bookrunners. The principal business address of SunTrust Robinson Humphrey,
Inc. is 3333 Peachtree Road NE, Atlanta, GA 30326, Attn: Prospectus
Department, Phone: 404-926-5744, Email: prospectus@rhco.com. The principal
business address of BMO Capital Markets Corp. is 3 Times Square, New York,
NY 10036, Attn: Lori Begley, Phone: 212-885-4039, Email:
lori.begley@bmo.com.
About the Company
The Company is a business development company which principally invests in
U.S. middle-market private companies in the form of mezzanine debt, senior
secured loans and equity investments. From time to time, the Company may
also invest in public companies whose securities are thinly traded. The
Company is managed by PennantPark Investment Advisers, LLC.
Forward-Looking Statements
Statements included herein may constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995.
These statements are not guarantees of future performance or results and
involve a number of risks and uncertainties. Actual results may differ
materially from those in the forward-looking statements as a result of a
number of factors, including those described from time to time in filings
with the Securities and Exchange Commission. The Company undertakes no duty
to update any forward-looking statements made herein.