Seeking Alpha

Fifth Street -2.5% after secondary

  • It was a couple of days ago when Fifth Street Finance (FSC) rewarded its patient shareholders with a 10% dividend boost, but this afternoon the company is offering 13.25M shares, with underwriters having the option to buy nearly another 2M shares.
  • Source: Press Release
  • The stock's lower by 2.5% AH.
Comments (6)
  • Preferred Research
    , contributor
    Comments (736) | Send Message
     
    offering price is 9.95
    10 Jul 2014, 04:31 PM Reply Like
  • JeremySpoken
    , contributor
    Comments (92) | Send Message
     
    A secondary just days after a dividend hike? I do not understand the BDC business model.
    10 Jul 2014, 04:46 PM Reply Like
  • imbigt
    , contributor
    Comments (19) | Send Message
     
    A secondary offering by a BDC ? Why is anyone surprised? It happens regularly. Buy now, before the next one.
    10 Jul 2014, 06:47 PM Reply Like
  • mmlee11
    , contributor
    Comments (62) | Send Message
     
    Indeed!
    10 Jul 2014, 09:21 PM Reply Like
  • User 7140591
    , contributor
    Comments (18) | Send Message
     
    Agree, I don't get it.
    11 Jul 2014, 04:08 AM Reply Like
  • 4chipdonohue@gmail.com
    , contributor
    Comment (1) | Send Message
     
    Management again ... take the rate but look at managements employment contact next time it is up for renewal
    11 Jul 2014, 08:57 AM Reply Like
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