NEW YORK–(BUSINESS WIRE)–Silver Spike Investment Corp. (NASDAQ: SSIC), a new closed-end investment company that has elected to be treated as a business development company, today announced the closing of its IPO. of 6,071,429 common shares, at a public price of $14.00 per share, on February 8, 2022. The common shares of SSIC began trading on the NASDAQ stock market on February 4, 2022 under the symbol “SSIC”.
SSIC has received net offering proceeds of approximately $83.3 million, after deducting estimated set-up and offering costs, which it intends to use to make investments in accordance with its investment objective and strategies and for general corporate purposes.
Stifel and Piper Sandler acted as joint bookrunners for the offering. Canaccord Genuity and Cantor acted as co-managers of the investment.
This press release will not constitute an offer to sell or the solicitation of an offer to buy the securities described above and there will be no sale of such securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to their registration or qualification under the securities laws of such state or territory.
About Silver Spike Investment Corp.
Silver Spike Investment Corp. (“SSIC”) is a newly created specialty finance company to invest in the cannabis ecosystem through direct loan investments and equity participation in private cannabis companies. SSIC has elected to be treated as a business development company under the Investment Companies Act 1940, as amended. SSIC is managed by Silver Spike Capital, LLC. Silver Spike Capital, LLC is an investment manager focused on the cannabis and alternative health and wellness industries.
Certain information contained herein may constitute “forward-looking statements” that involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and other factors and should not be unduly relied upon. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections regarding SSIC, its current and potential portfolio investments, its industry, its beliefs and opinions, and its assumptions. Words such as “plans”, “expects”, “intends”, “plans”, “will”, “may”, “continues”, “believes”, “seeks”, “estimates” , “would”, “could”, “should”, “targets”, “projects”, “outlook”, “potential”, “predicts” and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond SSIC’s control and are difficult to predict and could cause actual results to differ materially from those expressed or anticipated. in forward-looking statements, including, without limitation, the risks, uncertainties and other factors identified in SSIC’s filings with the SEC. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date SSIC makes them. SSIC undertakes no obligation to update or revise any forward-looking statements or any other information contained herein, except as required by applicable law.
Alan Oshiki and Will Braun
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