Allied Capital Completes $66.8 Million Equity Offering.Business Editors WASHINGTON--(BUSINESS WIRE)--June 17, 2003 Allied Capital Corporation (NYSE NYSE See: New York Stock Exchange :ALD ALD abbr. adrenoleukodystrophy ALD, n.pr See adrenoleukodystrophy. ALD aldolase. ) announced today that the company has completed the sale of 2.8 million shares of common stock at $23.84 per share for total proceeds, before the underwriting discount, of $66.8 million. The offering was underwritten by Banc of America Securities LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . Allied Capital has granted the underwriter a 30-day option to purchase an additional 420,000 shares at $23.84 per share to cover over-allotments. The shares were issued from the company's shelf registration statement on file with the Securities and Exchange Commission. The company intends to use the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of the offering, estimated to be $64.5 million after deducting the underwriting discount and estimated expenses, for investment in the debt or equity securities of middle market companies or non-investment grade CMBS CMBS See: Commercial Mortgage Backed Securities and other general corporate purposes. About Allied Capital Allied Capital is the nation's largest business development company and provides long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. and equity investment capital to support the expansion of middle market companies in a variety of industries. The company also participates in the real estate capital markets as an investor in non-investment grade commercial mortgage-backed securities. The company is headquartered in Washington, DC. For more information, please visit the web site at www.alliedcapital.com, call Allied Capital Investor Relations toll-free at 888/818-5298, or e-mail us at ir@alliedcapital.com. Forward-looking Statements The information contained in this press release contains forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements, and these factors are enumerated This term is often used in law as equivalent to mentioned specifically, designated, or expressly named or granted; as in speaking of enumerated governmental powers, items of property, or articles in a tariff schedule. in the company's periodic filings with the Securities and Exchange Commission. |
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