Fifth Street (FSC) to Offer 7M Common Shares

Fifth Street Finance Corp. (NYSE: FSC) today announced that it has commenced a public offering of 7,000,000 shares of its common stock. Fifth Street plans to grant the underwriters for the offering an option to purchase up to an additional 1,050,000 shares of common stock to cover over-allotments, if any. All shares will be offered by Fifth Street. Wells Fargo Securities, LLC and UBS Investment Bank will act as joint book-running managers for the offering. Stifel, Nicolaus & Company, Incorporated and RBC Capital Markets will act as co-lead managers for the offering. Janney Montgomery Scott LLC, Morgan Keegan & Company, Inc., Macquarie Capital (USA) Inc., Gilford Securities Incorporated and ING will act as co-managers.

Fifth Street intends to use approximately $38 million of the net proceeds from this offering to repay its outstanding borrowings under its credit facility with Wachovia Bank, N.A., a Wells Fargo company. Substantially all of the remaining net proceeds from the offering will be used to make investments in small and mid-sized companies in accordance with its investment objectives and strategies described in the prospectus supplement and accompanying prospectus and for general corporate purposes, including working capital requirements.