|American Capital Stockholders Approve Proposal Authorizing Limited Share Issuance Below NAV|
BETHESDA, Md., Feb 12, 2010 /PRNewswire via COMTEX/ -- American Capital Ltd. (Nasdaq: ACAS) (the "Company") announced today that its stockholders have approved a proposal authorizing the Company to sell shares of its common stock in one or more offerings below the net asset value per share ("NAV"), subject to certain limitations, including the prior approval of the Company's Board of Directors. American Capital's prior authorization to issue a certain number of shares of its common stock at a price below NAV was set to expire on February 19, 2010. The authorization approved today commences on February 19, 2010 and expires on February 12, 2011. The number of shares of common stock that may be issued below NAV is limited to a maximum of 58,324,930 shares, which is 20% of the number of shares outstanding as of the December 29, 2009 record date for this year's special meeting, subject to adjustment for shares issued following the occurrence of events such as stock splits, stock dividends, distributions and recapitalizations.
ABOUT AMERICAN CAPITAL
American Capital is a publicly traded private equity firm and global asset manager. American Capital, both directly and through its asset management business, originates, underwrites and manages investments in middle market private equity, leveraged finance, real estate and structured products. Founded in 1986, American Capital has $12 billion(1)in capital resources under management and eight offices in the U.S., Europe and Asia. For further information, please refer to http://www.americancapital.com/.
(1)As of September 30, 2009.
Investors - (301) 951-5917
SOURCE: American Capital Ltd.