2.43%XLF 15.10 
10.30%QQQQ 31.32 0.63%
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WASHINGTON - Allied Capital Corp., which lends to and invests in medium-sized businesses, said Friday it has completed the sale of 9 million shares at $20.45 apiece for proceeds of $184.1 million.
The company raised $175.3 million, after expenses.
Allied Capital has granted the underwriters the option to buy up to 1.35 million additional shares to cover any overallotments. The company plans to use proceeds from the offering to repay debt, invest in debt or equity securities and for general corporate purposes.
The offering is expected to close on May 21, pending customary closing conditions.
Morgan Stanley, Citi, Deutsche Bank Securities and Merrill Lynch were among a large syndicate of underwriters.
Allied Capital shares dropped $1.31, or 6.1 percent, to $20.10 in afternoon trading. Shares have traded between $17.75 and $33.35 in the past 12 months.
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