The Firm recently represented the underwriters, led by Citigroup Global Markets Inc., in connection with registered public offerings of 6,000,000 shares of common stock of Solar Capital Ltd. (NASDAQ: SLRC) and 2,000,000 shares of common stock of Solar Senior Capital Ltd. (NASDAQ:SUNS). The gross proceeds from the offering to SLRC were $140,910,000 and to SUNS were $37,200,000.
SLRC and SUNS are regulated as “business development companies” under the Investment Company Act of 1940. SLRC invests primarily in leveraged companies, including middle-market companies, in the form of senior secured loans, mezzanine loans and equity securities. SUNS invests primarily in senior secured loans, including first lien, unitranche and second lien debt instruments, made to private middle-market companies whose debt is rated below investment grade.
The Simpson Thacher team for the transactions included Sarah Cogan, Benjamin Wells, Aditya Basrur and Misan Ikomi (Capital Markets), Jonathan Cantor and Devin Heckman (Tax) and Jennie Getsin (FINRA).
