June 27, 2010 (FinancialWire) — Fifth Street Finance Corp. (NYSE: FSC) said it has completed a public offering of 9.2 million shares of common stock at a price of $11.50 per share, raising approximately $105.8 million in gross proceeds. The shares include the over-allotment option granted to the underwriters, which was exercised in full.

All shares were offered by Fifth Street. Wells Fargo Securities, Morgan Stanley, UBS Investment Bank and RBC Capital Markets served as joint book-running managers for the offering. FBR Capital Markets, ING, Janney Montgomery Scott LLC and Gilford Securities Inc. acted as co-managers.

Fifth Street intends to use substantially all of the net proceeds from the offering to make investments in small and mid-sized companies in accordance with Fifth Street's investment objective and strategies described in the prospectus supplement and accompanying prospectus and for general corporate purposes, including working capital requirements. Fifth Street may also use a portion of the net proceeds from the offering to repay its outstanding borrowings under its three-year credit facility with Wells Fargo Bank, N.A.

Fifth Street Finance Corp. is a specialty finance company that lends to and invests in small and mid-sized companies in connection with investments by private equity sponsors.

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