American Capital Announces Stock Offering

American Capital Strategies, a Bethesda-based business development company, announced today an offering of five million shares of common stock.

The firm, which provides funding for small to mid-sized businesses, said it will use the proceeds to reduce its debt and fund new investments. Citigroup Global Markets, UBS Securities and Wachovia Capital Markets will sell 4 million shares, while American Capital will sell the rest directly, the company said in a statement.

American Capital has $17 billion in assets under management, including its investments in externally managed funds, and is ranked in the Standard & Poor's 500 stock index. The company calls itself the largest publicly traded private equity firm in the United States and one of the largest publicly traded alternative asset managers in the world. American Capital and its affiliates invest from $5 million to $800 million per company in North America and a similar amount in Europe.

The company's announcement came after the close of financial markets. American Capital's shares closed at $40. The firm has 187.93 million shares outstanding and a market value of about $7.52 billion.
-- Thomas Heath

By Mike Shepard  |  September 6, 2007; 6:50 PM ET  | Category:  Finance
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