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FS Investment Corporation Closes First Day on NYSE

After Michael C. Forman rang yesterday’s opening bell for its first day on the NYSE, FS Investment Corporation (FSIC) traded at a session high of $10.30 and closed the day at $10.25, with approximately 8.7 million shares traded. 

“With today’s listing, we have delivered on our goal to provide current shareholders with liquidity,” said Mr. Forman. “Our initial investors have nearly doubled their investment. We now look forward to making FSIC available to a broader investor base.”

Based on yesterday’s closing price, FSIC delivered its earliest investors a cumulative total return of approximately 95%, net of all fees.

After launching in 2009, FSIC raised approximately $2.8 billion before closing in May 2012. As of February 28, 2014, its portfolio consisted of 159 companies with a combined value of over $4.5 billion in assets, making it one of the largest traded BDCs on the market.

President of FSIC, Gerald Stahlecker, commented, “As a publicly traded company, FSIC will continue to execute on its proven strategy, focusing on directly originated senior secured debt and opportunistic investments.”