Crescent Capital BDC (CCAP) Prices 2.5M Share Offering at $21.33/sh

Crescent Capital BDC, Inc. (NASDAQ: CCAP) today announced that it has priced an underwritten primary offering of 2,500,000 shares of its common stock, which will result in net proceeds exclusive of offering expenses to the Company of approximately $53.3 million, or $21.33 per share. Crescent BDC has granted the underwriters an option to purchase up to an additional 375,000 shares of common stock. The offering was made pursuant to the Company’s shelf-registration statement, which was filed with and declared effective by the Securities and Exchange Commission (the “Commission”). The offering is expected to close on November 18, 2021, subject to customary closing conditions.

Crescent BDC's investment adviser, Crescent Cap Advisors, LLC (the "Adviser"), has agreed to pay the underwriters a supplemental payment of $1.98 per share, which reflects the difference between the actual public offering price of $19.35 and the net proceeds of $21.33 per share to be received by Crescent BDC in this offering. In addition, the Adviser has agreed to bear the sales load payable to the underwriters. Crescent BDC is not obligated to repay the supplemental payment and sales load paid by the Adviser.

The Company intends to use the net proceeds from the offering for general corporate purposes, which may include the repayment of outstanding indebtedness and investing in portfolio companies in accordance with its investment objective and strategies.

BofA Securities, Wells Fargo Securities, Morgan Stanley & Co. LLC, Keefe, Bruyette & Woods, A Stifel Company and RBC Capital Markets, LLC are serving as joint book-running managers for the offering. Oppenheimer & Co. Inc. and SMBC Nikko Securities America, Inc. are serving as co-managers for the offering.

Investors are advised to carefully consider the investment objectives, risks and charges and expenses of the Company before investing. The preliminary prospectus supplement, dated November 15, 2021, and the accompanying prospectus, dated August 6, 2021, which have been filed with the Commission, contain this and other information about the Company and should be read carefully before investing.

The information in the preliminary prospectus supplement, the accompanying prospectus and this press release is not complete and may be changed. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the shares referred to in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.

The Offering may be made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained from the joint book-running managers at: BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte NC 28255-0001, Attn: Prospectus Department, or email [email protected]; Wells Fargo Securities, LLC at 500 West 33rd Street, New York, New York, 10001, Attn: Equity Syndicate Department, by calling toll free 1-800-326-5897, or by e-mail at [email protected]; Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10014, Attn: Prospectus Department; or Keefe, Bruyette & Woods, Inc., 787 Seventh Avenue, 4th Floor, New York, NY 10019, Attn: Capital Markets or by calling: 1-800- 966-1559.

You May Also Be Interested In

• Aveanna Healthcare prices secondary offering at $11.75 per share
• Royal Caribbean completes $1.25B senior unsecured notes offering
• Powerus wins $22.3M contract for counter-drone work in Middle East