Saw it crossing on CNBC down 31 cents. Said to myself, "Has to be a secondary offering." I guess they have to take advantage of their premium to NAV of $9.90 as of 6-30-13. Now they just have to find a good place to lend out those $$. In their recent newsletter they stated that they're doing some venture capital lending as they reach for higher yields. Good idea???? Don't know.
Me thinks someone knew about this and was shorting today, maybe the past few days. It happens all this time with almost every stock. How is that? I'm not complaining about FSC doing an offering; I'm complaining about Wall Street corruption.
As for this offering, it will probably work out well. FSC was talking about putting together some deals that would boost NII per share, and that there would be a large pipeline of deals in Q4. The money will be invested soon enough.