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- The Exchange Notes Will Be Unsecured and Therefore Will Be Effectively Subordinated to Any Secured Indebtedness We Have Currently Incurred or May Incur In the Future. (new) — The notes are unsecured and rank behind $80.3 million of secured SPV Credit Facility debt and $289.5 million of SBA debentures, increasing risk for noteholders.
- The Exchange Notes Will Be Structurally Subordinated to the Indebtedness and Other Liabilities of Our Subsidiaries. (new) — Noteholders are structurally subordinated to all subsidiary debt, including the SPV Credit Facility and SBIC Funds, meaning they are effectively junior to subsidiary creditors.
- There Is Currently No Public Market For the Exchange Notes. If an Active Trading Market For the Exchange Notes Does Not Develop, or Is Not Maintained, You May Not Be Able to Sell Them. (new) — The Exchange Notes will not be listed on any exchange or quoted on an automated dealer system, which may severely limit liquidity and the ability to sell the notes.
Fidus Investment Corp launches exchange offer for $120M of 6.625% Notes due 2029; no new capital raised
Filed September 16, 2026 · ~2 min read
Key Changes
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Fidus is offering to exchange $120 million of unregistered 6.625% Notes due 2029 for registered Exchange Notes with identical terms except transfer restrictions and registration rights.
The Offering verify on EDGAR → -
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The company will not receive any cash proceeds from the exchange offer; it is a one-for-one swap of notes with no change in capitalization.
Use of Proceeds verify on EDGAR → -
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The Exchange Notes will be unsecured and structurally subordinated to $80.3 million of secured SPV Credit Facility borrowings and $289.5 million of SBA debentures.
Risk Factors verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Figures/quotes linked to EDGAR · Narrative written by AI · Oct 3, 2026 · How we verify