PennantPark Investment Corporation tender offer price

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NEW YORK, October 14, 2021 (GLOBE NEWSWIRE) – PennantPark Investment Corporation (the “Company” (NASDAQ: PNNT) has announced that it has priced a firm takeover bid of $ 165 million in capital total of its 4.00% unsecured notes) due 2026 (the “Bonds”). The Notes will mature on November 1, 2026 and may be redeemed in whole or in part at the option of the Company at any time at par plus a “redemption” premium where applicable; provided that the Notes may be redeemed at par three months before their maturity. The Notes will bear interest at a rate of 4.00% per annum payable semi-annually on May 1 and November 1 in each year, commencing May 1, 2022.

The offer is scheduled to close on October 21, 2021, subject to customary closing conditions.

Raymond James & Associates, Inc., Keefe, Bruyette & Woods, A Stifel company, Truist Securities, Inc. and JP Morgan Securities LLC are acting as co-book managers for this offering. Compass Point Research & Trading, LLC, JMP Securities LLC, Ladenburg Thalmann & Co. Inc. and Oppenheimer & Co. Inc. are acting as co-managers of this offering.

The Company expects to use a portion of the net proceeds of this offering to repay the full total principal amount outstanding under its 5.50% Notes due 2024 and the remaining net proceeds to invest in portfolio companies. new or existing or for other general or strategic companies. purposes, including the repayment of unpaid amounts under its other existing debts.

other information

Investors are advised to carefully consider the investment objectives, risks, charges and expenses of the Company before investing. The Pricing Terms Sheet, dated October 14, 2021, the preliminary prospectus supplement, dated October 14, 2021, and the accompanying prospectus, dated January 30, 2020, each of which has been filed with the Securities and Exchange Commission (the “SEC”), contain this and other information about the Company and should be read carefully before investing.

The information contained in the pricing schedule, the provisional prospectus supplement, the accompanying prospectus and this press release are not complete and may be amended. The pricing terms sheet, preliminary prospectus supplement, accompanying prospectus and this press release are not offers to sell securities of the Company and do not solicit an offer to purchase such securities in a State or jurisdiction where such offering and sale is not permitted. .

The company’s in-store registration statement is on file and has been declared effective by the SEC. The offer may only be made by means of a preliminary prospectus supplement and accompanying prospectus.

Before investing, you should read the prospectus in this registration statement, the preliminary prospectus supplement and other documents that the Company has filed with the SEC for more complete information about the Company and this offering. You can obtain these documents free of charge by visiting EDGAR on the SEC’s website at www.sec.gov. You can also obtain copies of the preliminary prospectus supplement and accompanying prospectus from: Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, FL 33716, email: [email protected], telephone: 800-248-8863; Keefe, Bruyette & Woods, A Stifel company, Attn: Prospectus Department, 787 Seventh Avenue, Fourth Floor, New York, NY 10019, Phone: 1-800-966-1559, Fax: 1-212-581-1592 or Email: [email protected]; and Truist Securities, Inc., Attn: Prospectus Department, 303 Peachtree Road, Atlanta, GA 30308, phone: 1-800-685-4786 or e-mail: [email protected] You are advised to obtain a copy of the Prospectus Supplement and accompanying Prospectus and carefully review the information it contains or is incorporated by reference therein before making an investment decision.

ABOUT PENNANTPARK INVESTMENT COMPANY

PennantPark Investment Corporation is a business development company that invests primarily in private mid-market US companies in the form of senior secured debt, second lien secured debt, subordinated debt and equity investments. PennantPark Investment Corporation is managed by PennantPark Investment Advisers, LLC.

ABOUT PENNANTPARK INVESTMENT ADVISERS, LLC

PennantPark Investment Advisers, LLC is a leading mid-market credit platform, managing $ 5.2 billion in investable capital, including potential leverage. Since its inception in 2007, PennantPark Investment Advisers, LLC has provided investors with access to middle market credit by offering private equity firms and their holding companies as well as other middle market borrowers a full range creative and flexible financing solutions. PennantPark Investment Advisers, LLC is headquartered in New York with offices in Chicago, Houston and Los Angeles.

FORWARD-LOOKING STATEMENTS

This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. You should understand that under Section 27A (b) (2) (B) of the Securities Act of 1933, as as amended, and Section 21E (b) (2) (B) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 do not apply to -forward-looking statements made in periodic reports the company files under the Exchange Act. All statements other than statements of historical fact included in this press release are forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those of forward-looking statements due to a number of factors, including those described from time to time in filings with the SEC. The Company assumes no obligation to update any forward-looking statements contained in this document. You should not exercise undue influence over these forward-looking statements because such statements speak only as of the date on which they are made.

The information contained in this document is based on applicable tax laws, which may change in the future. The Company cannot be held liable for any direct or incidental loss resulting from the application of any of the information provided in this publication or from any other source mentioned. The information provided in this document does not constitute specific legal, tax or accounting advice. Please consult qualified professionals for this type of advice.

CONTACT:

Richard cheung
PennantPark Investment Company
(212) 905-1000


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