Solar Senior (Nasdaq: SUNS) Closes Initial Public Offering
Wednesday, March 02, 2022 2:38 PM

Solar Senior Capital Ltd (Nasdaq: SUNS), a closed end investment company, announced the closing of its initial offering of 8,000,000 shares of common stock at a public offering price of $20.00 per share for total gross proceeds of $160 million.

The Company has granted the underwriters an option to purchase up to an additional 1,200,000 shares of its common stock to cover over-allotments, if any. Concurrent with the closing of this offering, management purchased an additional 500,000 shares, also at $20.00 per share.

Solar Senior expects to use substantially all of the net proceeds from this offering to make investments in portfolio companies and for general working capital purposes.

The joint book-running managers for the initial public offering were Citi, Wells Fargo Securities, Deutsche Bank Securities and SunTrust Robinson Humphrey. The lead manager for the initial public offering was RBC Capital Markets, and the junior co-managers were BB&T Capital Markets, Ladenburg Thalmann & Co. Inc. and Lazard Capital Markets.

The shares of Solar Senior (Nasdaq: SUNS) are trading at $19.38, up 0.10 percent.