03:59 AM EDT, 05/22/2024 (MT Newswires) -- Kayne Anderson BDC ( KBDC ) said late Tuesday it priced its initial public offering of 6 million common shares at $16.63 per share.

The business development company also granted the underwriters an option to purchase up to 900,000 additional shares.

Net proceeds will be used for debt repayments, it said.

The shares are expected to debut on the New York Stock Exchange on Wednesday under the ticker "KBDC."