Fidus Prices Public Offering

Fidus Investment said pre-market Tuesday it has priced an underwritten public offering of 1.8 million shares of its common stock. The public offering price was set at $16.80 per share, 2.6% lower than the share closing price on Monday. Shares fell as much as 3.3% in pre-market trading, and were still off shortly after the market’s open.

Net proceeds from the offering are expected to be $28.0 million. Fidus has also granted the underwriters an option, exercisable for 30 days, to buy up to 262,500 additional shares. The company will use the net proceeds to make investments in lower middle-market companies, to repay the outstanding indebtedness under its credit facility, and to increase borrowing capacity under the small business investment company debenture program.