Fidus Investment Corporation Prices Offering of $125 Million of 4.75% Notes Due 2026

EVANSTON, Ill., Dec. 16, 2020 (GLOBE NEWSWIRE) -- Fidus Investment Corporation (NASDAQ:FDUS) (“Fidus” or the “Company”) today announced that it priced a public offering of $125 million aggregate principal amount of 4.75% notes due 2026 (the “Notes”) on December 16, 2020. The Notes will mature on January 31, 2026, and may be redeemed in whole or in part at any time or from time to time at the Company’s option at par plus a “make-whole” premium, if applicable. The Notes will bear interest at a rate of 4.75% per year payable semi-annually on January 31 and July 31 of each year, beginning July 31, 2021.

Raymond James & Associates, Inc. is acting as sole book-running manager for this offering. B. Riley Securities, Inc., Janney Montgomery Scott LLC, Keefe, Bruyette & Woods, Inc., A Stifel Company, Ladenburg Thalmann & Co. Inc., National Securities Corporation, a wholly owned subsidiary of National Holdings Corporation (NASDAQ: NHLD), and Oppenheimer & Co. Inc. are acting as co-managers for the offering.

The closing of the transaction is subject to customary closing conditions and the Notes are expected to be delivered on or about December 23, 2020.

The Company intends to use the net proceeds from this offering to redeem all of its outstanding 5.875% notes due 2023, repay the amount outstanding under its credit facility and redeem a portion of its outstanding 6.000% notes due 2024 (callable on February 15, 2021). However, the Company may re-borrow under its credit facility and use such borrowings to invest in lower middle-market companies in accordance with its investment objective and strategies and for working capital and general corporate purposes. As of December 15, 2020, the Company had $50.0 million of outstanding indebtedness under its credit facility.

Investors are advised to consider carefully the investment objective, risks and charges and expenses of the Company before investing. The preliminary prospectus supplement dated December 16, 2020 and the accompanying prospectus dated May 1, 2019, each of which has been filed with the Securities and Exchange Commission (the “SEC”), contain a description of these matters and other important information about the Company and should be read carefully before investing.