Goldman Sachs BDC drops on pricing about $100 mln stock offering

Goldman Sachs BDC

07/03/2023 10:53

** Shares of Goldman Sachs BDC Inc  GSBD.N  dropping 5.4% to
$15.18 premarket after overnight follow-on prices
    ** Specialty finance subsidiary of Goldman Sachs  GS.N  sold
6.5 mln shares for approx $99.1 mln raise
    ** Offering prices at $15.25, 5% discount to last sale
    ** GSBD, which now has 109.5 mln shares outstanding, had net
asset value/sh of $14.61 at end-Dec
    ** Co plans to use net offering proceeds to partially repay
debt, make new investments
    ** BofA, Morgan Stanley and Goldman Sachs acting as jt
bookrunners for offering
    ** Stock up 17% YTD through Mon close. Offering price
implies ~11.8% yield based on current $1.80 annualized dividend
payout

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))