American Capital Raises $1 Billion

Jul 20 2007 | 10:47am ET

Alternative asset management firm American Capital Strategies this week raised $1 billion in its public offering.

Approximately 22.4 million shares of common stock were sold in the offering at $45.05 per share.

American Capital expects to use most of net proceeds, approximately $748 million, from the direct sale of 17.4 million shares of common stock for general corporate purposes, including investment and lending activities and to repay debts owed under existing revolving credit facilities.

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