Simpson Thacher Represents Underwriters in Secondary Offering of Solar Capital Ltd. Common Stock
05.20.10
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The Firm recently represented the underwriters, led by Citigroup Global Markets Inc. and J.P. Morgan Securities Inc., in connection with a registered public offering of 5,194,471 shares of Solar Capital Ltd. common stock by certain shareholders. The gross proceeds from the offering to the selling shareholders were approximately $115 million.
Solar is an externally managed non-diversified closed end management investment company regulated as a “business development company” under the Investment Company Act of 1940. Solar invests primarily in leveraged companies, including middle-market companies, in the form of senior secured loans, mezzanine loans and equity securities.
The Simpson Thacher team for the transaction included Sarah Cogan, Joe Kaufman, Estella Chen and Josh Faber (Capital Markets) and Jennie Getsin (FINRA). Paralegal Matthew Glasser provided valuable assistance.