KCAP Financial Prices Offering

August 9, 2017

KCAP Financial, an investment company, said late Tuesday that it priced an offering of $50 million aggregate principal amount of 6.125% notes due 2022. The underwriters have been granted a 30-day option to purchase up to $7.5 million additional principal amount of notes to cover over-allotments.

The company intends to use the net proceeds for general corporate purposes. The notes are expected to be delivered on or about Aug. 14, subject to customary closing conditions. Shares were 1.6% lower in midday trade.

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By Caroline Williams

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