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FOR IMMEDIATE RELEASE:
December 4, 2000
Contact:
Malon Wilkus, Chairman, President and CEO (301) 951-6122
John Erickson, Chief Financial Officer (301) 951-6122
Brian Maney, Director, Corporate Communication (212) 213-2009
AMERICAN CAPITAL COMPLETES $67.5 MILLION EQUITY OFFERING
Bethesda, MD -- American Capital Strategies, Ltd. (Nasdaq:ACAS) announced today that it has closed on the sale of 405,000 shares of its common stock at $21.75 per share as a result of the exercise of the over-allotment option granted to underwriters at the time of its November 10 public equity offering. At that time, the company sold 2.7 million shares of its common stock at $21.75 per share for total gross proceeds of approximately $58.7 million. With this offering, American Capital now has over $700 million in capital resources, including availability under a $225 million revolving credit facility.
Lead underwriter was First Union Securities, Inc. Co-underwriters were Legg Mason Wood Walker Incorporated, BB&T Capital Markets, and Friedman Billings Ramsey.
American Capital is a publicly traded buyout and mezzanine fund. American Capital is an equity partner in management and employee buyouts; invests in debt and equity of companies led by private equity firms, and provides capital directly to private and small public companies. American Capital funds growth, acquisitions and recapitalizations.
Companies interested in learning more about American Capital's flexible financing and ability to provide senior debt, subordinated debt and equity should contact Mark Opel, Principal, at (800) 248-9340, or visit our website.This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The statements regarding expected results of American Capital Strategies are subject to various factors and uncertainties, including the uncertainties associated with the timing of transaction closings, changes in interest rates, availability of transactions, changes in regional or national economic conditions, or changes in the conditions of the industries in which American Capital has made investments.
This press release is neither an offer to sell nor a solicitation of an offer to buy shares. Such an offer is made by prospectus only.
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