Garrison Capital Inc. Announces Closing of Initial Public Offering
NEW YORK -- April 2, 2013
Garrison Capital Inc. (the “Company”) (NASDAQ: GARS) announced today the
closing of its initial public offering of 6,133,334 shares of its common
stock, including 800,000 shares issued pursuant to the underwriters’
over-allotment option, at a public offering price of $15.00 per share, raising
approximately $92 million in gross proceeds. The Company’s common stock began
trading on The NASDAQ Global Select Market under the symbol “GARS” on March
27, 2013. Robert W. Baird & Co., Incorporated and Oppenheimer & Co. Inc.
served as joint book-running managers. William Blair & Company, L.L.C., Janney
Montgomery Scott LLC, Stephens Inc. and Wunderlich Securities, Inc. served as
co-lead managers. J.J.B. Hilliard, W.L. Lyons, LLC, Ladenburg Thalmann & Co.
Inc., National Securities Corporation, Capital One Southcoast, Inc. and
Natixis Securities Americas LLC served as co-managers.
The Company plans to invest the net proceeds of the offering in accordance
with its investment objective, which is to generate attractive risk-adjusted
returns by making investments primarily in debt securities and loans of U.S.
based middle-market companies, and for general corporate purposes.
Investors are advised to consider carefully the investment objectives, risks
and charges and expenses of the Company before investing. The prospectus dated
March 26, 2013 contains this and other information about the Company and
should be read carefully before investing.
This press release does not constitute an offer to sell or the solicitation of
an offer to buy, nor will there be any sale of the shares referred to in this
press release in any state or jurisdiction in which such offer, solicitation
or sale would be unlawful prior to the registration or qualification under the
securities laws of such state or jurisdiction. A registration statement
relating to these securities has been filed and has been declared effective by
the Securities and Exchange Commission on March 26, 2013. This offering is
being made solely by means of a written prospectus forming part of the
effective registration statement. A copy of the final prospectus relating to
the offering may be obtained, when available, from either of the following
joint book-running managers: Robert W. Baird & Co. Incorporated., Attention:
Syndicate Department, 777 East Wisconsin Avenue, Milwaukee, Wisconsin 53202,
telephone: 800-792-2413 or email: firstname.lastname@example.org; or Oppenheimer & Co.
Inc., Attention: Prospectus Department, 85 Broad Street, 23rd Floor, New York,
New York 10004.
ABOUT GARRISON CAPITAL INC.
Garrison Capital Inc. is a business development company that primarily invests
in loans to U.S. based middle-market companies. The Company’s investment
activities are managed by its investment adviser, Garrison Capital Advisers
LLC, an affiliate of Garrison Investment Group LP (“Garrison Investment
Group”). For more information about the Company, please visit
ABOUT GARRISON INVESTMENT GROUP
Garrison Investment Group is an alternative investment and asset management
firm founded in March 2007 by Steven Stuart and Joseph Tansey. As of December
31, 2012, Garrison Investment Group had approximately $3.1 billion of
committed and invested capital under management and a team of 62 employees,
including 36 investment professionals. Garrison Investment Group invests
opportunistically in the debt of middle-market companies, primarily in the
areas of corporate finance, real estate finance and structured finance. For
more information about Garrison Investment Group, please visit
This press release may contain “forward-looking statements” within the meaning
of the Private Securities Litigation Reform Act of 1995. Statements other than
statements of historical facts included in this press release may constitute
forward-looking statements and are not guarantees of future performance or
results and involve a number of risks and uncertainties. Actual results may
differ materially from those in the forward-looking statements as a result of
a number of factors, including those described from time to time in filings
with the Securities and Exchange Commission. The Company undertakes no duty to
update any forward-looking statement made herein. All forward-looking
statements speak only as of the date of this press release.
Garrison Capital Inc.
Brian Chase, 212-372-9500
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