David Einhorn yesterday filed a 13-G in lender Fifth Street Finance (FSC).
According to the filing:
As of the date of this filing, each of the Reporting Persons may be deemed to be the beneficial owner of the following number of shares of Common Stock:
i)Greenlight LLC may be deemed the beneficial owner of 990,640 (4.4%) shares of Common Stock held for the account of Greenlight Fund and Greenlight Qualified.
ii)Greenlight Inc may be deemed the beneficial owner of 655,848 (2.9%)shares of Common Stock held for the account of Greenlight Offshore.
iii)Advisors may be deemed the beneficial owner of 494,248 (2.2%) shares of Common Stock held for the account of the managed account for which Advisors acts as investment manager.
iv)DME GP may be deemed the beneficial owner of 494,248 (2.2%)shares of Common Stock held for the account of the managed account for which Advisors acts as investment manager.
v)Mr. Einhorn may be deemed the beneficial owner of 2,140,736 (9.5%) shares of Common Stock. This number consists of: (A) 990,640 shares of Common Stock held for the account of Greenlight Fund and Greenlight Qualified, (B) 655,848 shares of Common Stock held for the account of Greenlight Offshore, and (C) 494,248 shares of Common Stock held for the account of the managed account for which Advisors acts as investment manager.
The information set forth in Rows 5 through 11 of the cover page for each Reporting Person is hereby incorporated by reference into this Item 4(b) for each such Reporting Person. The denominator for determining the percentage of shares of Common Stock held by each of the Reporting Persons was 22,614,289, which is the number of shares of Common Stock outstanding as of June 11, 2008, as reported in the Prospectus filed by the Issuer on June 12, 2008 with the Securities and Exchange Commission.
About 5th St:
Fifth Street Finance Corp. (Fifth Street) is a specialty finance company that lends to and invests in small and mid-sized companies (with annual revenues between $25 million and $250 million) in connection with investments by private equity sponsors. It provides financing to support the acquisitions or recapitalizations of companies by private equity sponsors. The Company is externally managed and advised by FSC Management LLC. As of September 30, 2007, its portfolio was comprised of debt and equity investments in 10 portfolio companies and the weighted average annualized yield of its debt investments. As of September 30, 2007, all of the Company’s debt investments were secured by first or second priority liens on the assets of its portfolio companies. Fifth Street Mezzanine Partners III, L.P., the Company’s predecessor fund, commenced operations as a private partnership on February 15, 2007. Fifth Street Mezzanine Partners III, L.P. has merged with and into Fifth Street.
Disclosure (“none” means no position):None
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