Current Report Filing (8-k)
December 02 2016 - 6:04AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant
to section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): December 1, 2016 (December 1, 2016)
BLACKROCK CAPITAL INVESTMENT
CORPORATION
(Exact name
of registrant as specified in its charter)
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Delaware
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814-00712
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20-2725151
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(State or other jurisdiction of
incorporation or organization)
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(Commission
File Number)
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(IRS Employer
Identification Number)
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40 East 52nd Street
New York, NY 10022
(Address of principal executive offices)
(212) 810-5800
(Registrants telephone number, including area code)
Not Applicable
(Former
name or former address, if changed since last report)
Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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ITEM 1.01.
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Entry into a Material Definitive Agreement.
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As previously disclosed, BlackRock Capital
Investment Corporation (the Company, we, us or our) has been named as a defendant, together with 52
nd
Street Capital Advisors LLC (52
nd
Street), our former investment adviser, and certain other defendants, in two wrongful death and personal injury actions that were filed by the families of the three decedents and certain
injured persons (the Plaintiffs) on June 22, 2012 and August 23, 2012, in the Circuit Court of Hancock County in West Virginia (the Litigation). The cases, which have been consolidated, involve three deaths and
personal injuries to other employees at the facilities of one of our portfolio companies. The Litigation is described in Item 1. Legal Proceedings in the Companys Quarterly Report on Form 10-Q for the three months ended
September 30, 2016, which was filed with the Securities and Exchange Commission on November 2, 2016.
On November 21, 2016,
the Court approved the previously disclosed settlement in principle and the Company entered into Settlement Agreements and Release of Claims (the Settlement Agreements), effective as of November 28, 2016, with 52
nd
Street and the Plaintiffs. Pursuant to the terms of the Settlement Agreements, the Company will cause to be paid a total of $17,500,000 (the Settlement Payment) to the Plaintiffs within
10 business days. Pursuant to the terms of the Settlement Agreements, (i) Plaintiffs, 52
nd
Street and the Company will mutually release one another from all claims that were asserted or could
have been asserted against each other in the Litigation (each as defined in the Settlement Agreements), and (ii) Plaintiffs will dismiss the Company and 52
nd
Street, with prejudice, from the
Litigation.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
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BLACKROCK CAPITAL INVESTMENT CORPORATION
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Date: December 1, 2016
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By:
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/s/ Steven Sterling
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Name:
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Steven Sterling
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Title:
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Chairman and Chief Executive Officer
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