e497ad
Filed pursuant to Rule 497(a)(1)
File No. 333-159720
Rule 482ad
Fifth Street Finance Corp. Issues Preliminary Estimate of Net Investment Income
and Announces Term Sheet for an Additional Credit Line
WHITE PLAINS, N.Y., January 21, 2010 Fifth Street Finance Corp. (NYSE:FSC) (Fifth Street)
today issued a preliminary estimated range of net investment income for the first fiscal quarter
ended December 31, 2009 of $0.21 to $0.24 per share. In addition, for the quarter ended December
31, 2009, Fifth Street expects its net asset value per share to change by less than 1% from its net
asset value per share as of September 30, 2009. Fifth Street also noted that it expects the number
of investments in its investment portfolio on cash non-accrual status for the quarter ended
December 31, 2009 to remain constant relative to the quarter ended September 30, 2009.
In addition, Fifth Street announced that it has received a non-binding term sheet from
a lender in connection with a potential additional credit line of up to $100 million. The
term sheet is subject to completion of due diligence and execution
of definitive documents. We cannot assure you that we will enter into any additional new
financings.
About Fifth Street Finance Corp.
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. Fifth Street Finance
Corp.s investment objective is to maximize its portfolios total return by generating current
income from its debt investments and capital appreciation from its equity investments.
Notice to Investors Regarding Forward-Looking Statements and Other Matters
You should not place undue reliance on the above estimates and expectations because they may prove
to be materially inaccurate. Although Fifth Street has based the above estimates and expectations
on its evaluation of available financial and other information to date, including preliminary
valuations of its investments by its investment advisers deal team responsible for Fifth Streets
investments, Fifth Streets estimates and expectations are subject to change, possibly materially,
due to a variety of factors including but not limited to (i) a change in Fifth Streets estimate of
the December 31, 2009 fair value of its illiquid investments, which comprises substantially all of
Fifth Streets total assets as of December 31, 2009, (ii) the completion of the closing process for
the preparation of Fifth Streets quarterly financial statements, which includes input from an
independent third party valuation firm, recommendation as to portfolio value by the Valuation
Committee of Fifth Streets Board of Directors, review of Fifth Streets financial statements by
its independent registered public accounting firm and determination of portfolio value by Fifth
Streets Board of Directors. Certain other
factors that could cause actual results to differ
materially from those projected in the forward-looking statements contained in this press release,
are identified in the below-described prospectus as well as in Fifth Streets other filings with
the Securities and Exchange Commission.
Fifth Street has an existing effective shelf registration statement on Form N-2 on file with the
Securities and Exchange Commission relating to the offer and sale from time to time of shares of
its common stock. Investors are advised to carefully consider the investment objectives, risks and
charges and expenses of Fifth Street before investing. The prospectus included in the shelf
registration statement, together with any related prospectus supplement, contain this and other
information about Fifth Street and should be read carefully before investing. A copy of the
prospectus and the related preliminary prospectus supplement may be obtained by contacting Fifth
Street.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor
shall there be any sale of Fifth Streets shares of common stock in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction.
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CONTACT: |
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Fifth Street Finance Corp.
Stacey Thorne, Director, Investor Relations
(914) 286-6811
stacey@fifthstreetcap.com |