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Apollo Investment Corporation Message Board

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  • dogdaynooner dogdaynooner Jan 4, 2007 5:52 PM Flag

    Is this secondary going to kill this thing?

    You shouldn't own a BDC if you are unwilling to live with the results of periodic secondary offerings.

    Of course AINV will deploy the money over time in a manner that becomes accretive. But for the time being the raising of monies is treated as dilutive.

    ACAS is doing a secondary too. ACAS stock is down too.

    A BDC that stops raising money is a dead BDC that would reach a theoretical limit on the amount of annual dividend income they could pay.

    AINV is 1/5 the size of ACAS. AINV needs to grow itself and the only way is to raise proceeds from secondaries AND deploy the money accretively so that dividends can go higher.

 
AINV
8.75+0.05(+0.57%)Jul 24 4:00 PMEDT

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