Blackhawk Capital Group BDC, Inc. Announces Private Offering of Common Stock

Aug 24, 2009, 16:30 ET from Blackhawk Capital Group BDC, Inc.

NEW YORK, Aug 24 /PRNewswire-FirstCall/ -- Blackhawk Capital Group BDC, Inc. (the "Company") (OTC Bulletin Board: BHCG) announces that it has signed placement agent agreements with five placement agents for the private placement offering pursuant to Rule 506 under Regulation D of the Securities Act of 1933, as amended (the "Act"), of 50 million shares of its common stock at an offering price of $5.00 per share, raising up to $250 million of gross proceeds. The offering is made on a best efforts basis subject to customary closing conditions.

The Company expects to use the net proceeds of this offering to fund new investments, repay outstanding indebtedness and for general corporate purposes.

Investors are advised to carefully consider the investment objectives, risk factors and charges and expenses of the Company before investing. The Private Placement Memorandum for the offering contains this and other information about the Company and should be read carefully before investing.

This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the shares referred to in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction. The securities offered have not been registered under the Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

A copy of the private placement memorandum for the private placement offering may be obtained from the Company at 14 Wall Street, 11(th) Floor, New York, New York 10005 (telephone number: 212-566-8300).

About Blackhawk Capital Group BDC, Inc.

Blackhawk is a business development company registered under the Investment Company Act of 1940 and was formed in April 2004.

Forward-Looking Statements

Statements included herein may constitute "forward-looking statements." These statements are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission. The Company undertakes no duty to update any forward-looking statements made herein.


    Blackhawk Capital Group BDC, Inc.
    Dr. Craig A. Zabala
    President and Chief Executive Officer
    (212) 566-8300

SOURCE Blackhawk Capital Group BDC, Inc.