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Filed
pursuant to Rule 497(a)(1)
File
No. 333-150033
Rule
482 ad
PennantPark Investment Corporation Announces Public Offering
NEW YORK,
NY--(Marketwire - March 1, 2010) - PennantPark Investment Corporation (the
"Company") (NASDAQ: PNNT) announced that it plans to make a public offering of
5,000,000 shares of its common stock. The Company also has granted the
underwriters an option to purchase up to an additional 750,000 shares of common
stock to cover over-allotments, if any. The offering price of the shares will be
determined by market conditions at the time of pricing in consultation with the
underwriters of the offering. The offering of the shares will be made under the
Company's shelf registration statement, which was filed with, and has been
declared effective by, the Securities and Exchange Commission.
The
Company expects to use the net proceeds for general corporate purposes,
including repayment of outstanding indebtedness and funding investments in
accordance with its investment objectives.
J.P.
Morgan Securities Inc., Robert W. Baird & Co. Incorporated, Stifel, Nicolaus
& Company, Inc., and SunTrust Robinson Humphrey, Inc., are acting as joint
bookrunning underwriters. BMO Capital Markets, FBR Capital Markets Corporation,
Janney Montgomery Scott LLC, and Keefe, Bruyette & Woods, Inc. are acting as
co-managers underwriters.
Investors are advised to carefully
consider the investment objectives, risks and charges and expenses of the
Company before investing. The prospectus supplement dated March 1, 2010 and the
accompanying prospectus dated February 24, 2010, which have been filed with the
Securities and Exchange Commission, contain this and other information about the
Company and should be read carefully before investing.
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. A registration statement relating
to these securities was filed and has been declared effective by the Securities
and Exchange Commission.
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 bookrunners at the following address: J.P. Morgan
Securities Inc. c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717 or by calling toll-free (866) 803-9204, Robert W. Baird &
Company Incorporated at 777 East Wisconsin Avenue, Milwaukee, Wisconsin 53202,
Stifel, Nicolaus & Company, Inc. at 501 North Broadway, St. Louis, Missouri
63102 and SunTrust Robinson Humphrey, Inc. at 3333 Peachtree Road NE, Atlanta,
Georgia 30326.
ABOUT
PENNANTPARK INVESTMENT CORPORATION
PennantPark
Investment Corporation is a business development company which principally
invests in U.S. middle-market private companies in the form of mezzanine debt,
senior secured loans and equity investments. From time to time, the Company may
also invest in public companies whose securities are thinly traded. PennantPark
Investment Corporation is managed by PennantPark Investment Advisers,
LLC.
FORWARD-LOOKING
STATEMENTS
This
press release may contain "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. These statements other than
statements of historical facts 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 in the forward-looking statements as a result of a
number of factors, including those described from time to time in filings with
the Securities and Exchange Commission. The Company undertakes no duty to update
any forward-looking statement made herein. All forward-looking statements speak
only as of the date of this press release. [Missing Graphic
Reference]
CONTACT:
PennantPark
Investment Corporation
Aviv
Efrat
(212)
905-1000
www.pennantpark.com