Apollo Investment Corporation announced it plans to make a public offering of 18.0 million shares of its common stock. The Company also plans to grant the underwriters an option to purchase up to an additional 2.7 million shares of common stock. The offering of the shares will be made under the Company's shelf registration statement (as amended), which was filed with, and declared effective by, the Securities and Exchange Commission. --updated 5/15 - Apollo Investment Corporation (NASDAQ: AINV) (the "Company" or "Apollo Investment") announced today it has priced a public offering of 19.0 million shares of its common stock at a public offering price of $8.60 per share for total gross proceeds of $163.4 million. The closing of the offering is subject to customary closing conditions and is expected to take place on May 20, 2013. In connection with the offering, the Company has granted the underwriters for the offering a 30-day option to purchase up to an additional 2.85 million shares of common stock. The offering of the shares is being made under the Company's shelf registration statement (as amended), which was filed with, and declared effective by, the Securities and Exchange Commission.
Apollo Investment is a closed-end, externally managed, non-diversified management investment company. Co.'s portfolio is comprised primarily of investments in subordinated debt, sometimes referred to as mezzanine debt, and senior secured loans of private middle-market companies that, in the case of senior secured loans, generally are not broadly syndicated and whose aggregate tranche size is typically less than $300.0 million. From time to time Co.'s portfolio also includes equity interests such as common stock, preferred stock, warrants or options. As of Mar 31 2012 Co. had total assets of $2.78 billion.
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