PennantPark Floating Rate Capital establishes $250M at-the-market equity offering program

PennantPark Floating Rate Capital Ltd.

Entered amended equity distribution agreements with Citizens JMP, Raymond James, and Truist Securities for up to $250M in common stock sales.
Sales agents will receive up to 2.0% commission; sales may be made at-the-market on NYSE or negotiated transactions.
Net proceeds to be used for investments in portfolio companies, general corporate purposes, or repaying existing indebtedness.
Offering authorized under prospectus supplement dated August 11, 2023, effective with SEC registration statement.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

PennantPark Floating Rate Capital Ltd. amended Equity Distribution Agreements with Citizens JMP Securities, LLC, Raymond James & Associates, Inc. and Truist Securities, Inc. valued at up to $250 million (effective 2023-08-11).

Action: amendment
Agreement: atm program
Counterparty: Citizens JMP Securities, LLC, Raymond James & Associates, Inc. and Truist Securities, Inc.
Value: up to $250 million
Effective: 2023-08-11

Exact text from the filing

On August 11, 2023, PennantPark Floating Rate Capital, Ltd. (the “Company”) entered into separate amended and restated equity distribution agreements (together, the “Equity Distribution Agreements”) with each of Citizens JMP Securities, LLC, Raymond James & Associates, Inc. and Truist Securities, Inc., as the sales agents (each, a “Sales Agent,” and together, the “Sales Agents”), in connection with the sale of shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”), with an aggregate offering price of up to $250 million (which amount includes all of the Common Stock previously sold pursuant to the equity distribution agreements dated March 31, 2023).

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PennantPark Floating Rate Capital Ltd. filing history →

Source: SEC EDGAR

accession 0001193125-23-210695

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