Garrison Capital Inc. Authorizes $10.0 Million Stock Repurchase Program
October 05 2015 - 6:22PM
Garrison Capital Inc. (NASDAQ:GARS) (the "Company"), a business
development company, today announced that its board of directors
has authorized the repurchase of up to $10.0 million of its common
stock at prices below the Company's net asset value per share as
reported in its most recent financial statements.
Under the repurchase program, the Company may, but is not
obligated to, repurchase shares of its outstanding common stock in
the open market or in privately negotiated transactions from time
to time. Any repurchases by the Company will comply with the
requirements of Rule 10b-18 under the Securities Exchange Act of
1934, as amended, and any applicable requirements of the Investment
Company Act of 1940, as amended. Unless extended by the Company's
board of directors, the repurchase program will terminate on the
earlier of October 5, 2016 or the repurchase of $10.0 million
of the Company's common stock.
The stock repurchase program is intended to minimize the adverse
effects of market volatility on the price of the Company's common
stock. Any repurchases under the program will be at the
discretion of the Company's management and will depend on a variety
of factors. There can be no assurances that any shares will be
repurchased under the program or that any repurchases will increase
the market value of shares of the Company's common stock. The
Company's board of directors may amend this program, solely in its
discretion, at any time prior to its termination.
ABOUT GARRISON CAPITAL INC.
Garrison Capital Inc. is a business development company that
primarily invests in loans to U.S. based middle-market companies.
The Company's investment activities are managed by its investment
adviser, Garrison Capital Advisers LLC, an affiliate of Garrison
Investment Group LP ("Garrison Investment Group"). For more
information, go to http://www.garrisoncapitalbdc.com.
ABOUT GARRISON INVESTMENT GROUP
Garrison Investment Group is an alternative investment and asset
management firm founded in March 2007. Garrison Investment Group
invests opportunistically in the debt of middle-market companies,
primarily in the areas of corporate finance, real estate finance
and structured finance. For more information, go to
http://www.garrisoninv.com.
FORWARD-LOOKING STATEMENTS
This press release may contain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Statements other than statements of historical facts
included in this press release may constitute forward-looking
statements and are not guarantees of future performance or results
and involve a number of risks and uncertainties. Actual results may
differ materially from those expressed or implied in the
forward-looking statements as a result of a number of factors,
including those described from time to time in filings with the
Securities and Exchange Commission. The Company undertakes no duty
to update any forward-looking statement made herein. All
forward-looking statements speak only as of the date of this press
release.
CONTACT: Garrison Capital Inc.
Brian Chase
www.garrisoncapitalbdc.com
(212) 372-9590
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