Silver Spike Investment Corp. (“SSIC”), a newly-organized closed-end management investment company that has elected to be treated as a business development company, plans to make an initial public offering of 10,714,286 shares of its common stock. The price for the offering is $14.00 per share of common stock. SSIC has applied to have its common stock approved for listing on the NASDAQ Stock Market under the symbol “SSIC.” The underwriters are expected to have an option to purchase up to an additional 1,607,143 shares of common stock. The completion of the proposed offering depends upon several factors, including the market and other conditions. SSIC will be managed by Silver Spike Capital, LLC. SSIC’s investment objective will be to maximize risk-adjusted returns on equity for its shareholders. SSIC intends to achieve its investment objective by investing primarily in secured debt, unsecured debt, equity warrants and direct equity investments in middle-market cannabis companies and other companies in the health and wellness sector. SSIC intends to use the net proceeds of this offering to make investments in accordance with its investment objective and strategies and for general corporate purposes.
Mmp News Author, Medical Marijuana Program Connection, 07/20/2021 21:22:00