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Palmer Square Capital BDC, an externally-led business development company, has filed to raise $89.6 million in an initial public offering, it said Monday.
The Company is awaiting approval to list its common shares on the New York Stock Exchange under the ticker “PSBD”.
PSBD intends to sell 5.45 million shares at $16.45 each. It is expected that the underwriters will be granted an option to purchase up to an additional 817.5K shares to cover over-allotments, if any.
The net proceeds from the proposed offering will be used for investments “consistent with its investment objectives and strategies,” the company said.
JP Morgan, BofA Securities, RBC Capital Markets, UBS Investment Bank and Citigroup are acting as joint book-running managers for this offering, and Janney Montgomery Scott, Oppenheimer & Co. and Clear Street are acting as co-managers for this offering.
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