Full Circle Capital, a business development company based in Rye Brook, announced Thursday it has priced a registered offering of 1,351,352 shares of common stock at $7.40 per share.
The offering, which was directly placed with investors, will raise $10,000,005 in new capital and is expected to close with share delivery Tuesday. A release issued by Full Circle Capital indicated the capital would be used to make new investments under its existing strategies.
Business development companies get major tax breaks under corporate tax laws for passing profits through to shareholders in the form of dividends and capital distributions. Full Circle Capital pays a 92 cent dividend per year on each share of its common stock.
This is the third public offering of 2014 for Full Circle Capital.  Previous offerings in January and February raised $18,412,399 through the sale of 2,522,300 shares.
