- GAAP Net Investment Income (NII) of
$0.17 per share providing first quarter distribution coverage of
approximately 92%.
- Net Asset Value (NAV) per share
increased 1.1% or $0.08 per share to $7.15 per share on a
quarter-over-quarter basis.
- Net leverage of 0.37x was slightly up
reflecting a net increase in investments. Total liquidity for
portfolio company investments, including cash, was approximately
$268.8 million, subject to leverage and borrowing base
restrictions.
- Under our existing share repurchase
program, we repurchased 85,543 shares of common stock for $0.5
million at an average price of $5.49, including brokerage
commissions, via open market purchases in the first quarter.
BlackRock Capital Investment Corporation (NASDAQ:BKCC) (“BCIC”
or the “Company,” “we,” “us” or “our”) announced today that its
Board of Directors declared a quarterly distribution of $0.18 per
share, payable on July 9, 2019 to stockholders of record at the
close of business on June 18, 2019.
“Our deployment pipeline remains robust heading into the second
quarter, reflecting the increased capabilities of our platform
following the integration of Tennenbaum Capital Partners LLC, or
TCP, with the Company’s adviser, BlackRock Capital Investment
Advisors, LLC. Two of the new investments made by the Company
during the quarter were driven by BlackRock-managed funds being
able to provide a holistic financing solution to our borrowers. For
the second quarter, we anticipate investments in new companies to
trend higher based on our current pipeline and completed
investments thus far in the second quarter. Additionally, we
believe that our ability to co-invest with TCP affiliated funds
allows us to mitigate portfolio risk by increasing issuer and
sector diversity,” commented James E. Keenan, Chairman and Interim
CEO of the Company.
“Our net unrealized and realized gains of $6.6 million were a
result of net portfolio valuation increases, primarily driven by
appreciation in our equity investment in US Well Services, Inc.
(“USWS”). We anticipate that the valuation of our USWS investment
will continue to shift in line with the quarter-end closing prices
of the USWS stock. Substantially all of our investment in USWS is
subject to lock-ups, half of which expire in May 2019 and the other
half in November 2019.
“Under BlackRock’s management of BCIC, from March 6, 2015 to
March 31, 2019, we have deployed capital of approximately $1
billion, of which $387 million has been exited with a realized IRR
of 14.1%. With liquidity at approximately $269 million and no debt
maturities until 2022, we have significant operating flexibility
and deployment capacity.”
Financial Highlights
Q1 2019 Q4 2018 Q1 2018
($'s in millions, except per share data)
TotalAmount
Per Share
TotalAmount
Per Share
TotalAmount
Per Share
Net Investment Income/(loss) $ 11.4 $ 0.17 $
11.8 $ 0.17 $ 11.6 $ 0.16 Net realized and unrealized
gains/(losses) $ 6.6 $ 0.09 $ (46.4 ) $ (0.66 ) $ (12.5 ) $ (0.17 )
Deferred taxes — — $ 2.2 $ 0.03 — — Basic earnings/(losses) $ 18.0
$ 0.26 $ (32.4 ) $ (0.46 ) $ (0.9 ) $ (0.01 ) Distributions
declared $ 12.4 $ 0.18 $ 12.6 $ 0.18 $ 13.2 $ 0.18 Net Investment
Income/(loss), as adjusted1 $ 11.4 $ 0.17 $ 11.8 $ 0.17 $ 11.6 $
0.16 Basic earnings/(losses), as adjusted1 $
18.0 $ 0.26 $ (32.4 ) $
(0.46 ) $ (0.9 ) $ (0.01 )
($'s in
millions, except per share data) March
31,
2019
December 31,
2018
March 31,
2018
Total assets $721.8 $693.6
$887.1 Investment portfolio, at fair market value $680.4 $671.7
$870.1 Debt outstanding $208.8 $186.4 $310.1 Total net assets
$492.1 $487.0 $553.1 Net asset value per share $7.15 $7.07 $7.65
Net leverage ratio2 0.37x 0.36x
0.56x
Business Updates
- Under our existing share repurchase
program, during the first quarter of 2019, 85,543 shares were
repurchased for $0.5 million at an average price of $5.49 per
share, including brokerage commissions. The cumulative repurchases
since BlackRock entered into the investment management agreement
with the Company in early 2015 totaled approximately 7.3 million
shares for $50.4 million, representing 80.4% of total share
repurchase activity, on a dollar basis, since inception. Since the
inception of our share repurchase program through March 31, 2019,
we have purchased 9.0 million shares at an average price of $6.94
per share, including brokerage commissions, for a total of $62.7
million. As of March 31, 2019, 3,320,309 shares remained authorized
for repurchase.
- The non-core legacy asset book
comprised 33% of our total portfolio by fair market value as of
March 31, 2019. This is further broken down into income-producing
investments, non-earning equities and non-accrual investments at
25%, 7% and 1% of the total portfolio, respectively, by fair market
value. Our investments in Vertellus Holdings, AGY Holding, Sur La
Table, US Well Services and related issuers comprise 73% of the
non-core book by fair market value.
___________________________ 1 Non-GAAP basis financial measure. See
Supplemental Information on page 8. 2 Calculated as the ratio
between (A) debt, excluding unamortized debt issuance costs, less
available cash and receivable for investments sold, and (B) net
asset value.
Portfolio and Investment Activity*
($’s in millions)
Three MonthsendedMarch
31, 2019
Three MonthsendedDecember
31, 2018
Three MonthsendedMarch
31, 2018
Investment
deployments $ 58.0 $ 32.0 $ 144.6 Investment exits $ 55.7 $ 94.7 $
17.2 Number of portfolio company investments at the end of period
28 27 31 Weighted average yield of debt and income producing equity
securities,
at fair market value
11.7 % 11.5 % 11.3 % % of Portfolio invested in Secured debt, at
fair market value 47 % 47 % 59 % % of Portfolio invested in
Unsecured debt, at fair market value 23 % 23 % 16 % % of Portfolio
invested in Equity, at fair market value 30 % 30 % 25 % Average
investment by portfolio company, at amortized cost
(excluding investments below $5.0
million)
$ 32.5 $ 34.1
$ 33.6
*Balance sheet amounts above are as of period end
- We deployed $58.0 million during the
quarter while exits of investments totaled $55.7 million, resulting
in a $2.3 million net increase in our portfolio due to investment
activity.
- Our deployments were primarily
concentrated in three new portfolio company investments and one
investment into an existing portfolio company.
- $7.5 million funded L + 6.75% first
lien term loan (with an additional $2.5 million unfunded at close)
to FinancialForce.com, a provider of cloud ERP and Professional
Service Automation (“PSA”) software;
- $4.7 million funded L + 7.25% first
lien term loan (with a $0.4 million unfunded revolver) to CareATC,
Inc., a tech-enabled provider of employer-sponsored health and
wellness clinics;
- $21.0 million funded L + 8.50% second
lien term loan to Paragon Films, a leading manufacturer or stretch
films servicing the storage and distribution pallet unitization
market; and
- $23.9 million of incremental L + 11.0%
unsecured debt to Gordon Brothers Finance Company (“GBFC”) to fund
portfolio growth.
- Our repayments were primarily
concentrated in one portfolio company exit and two partial
repayments:
- $25.0 million repayment of Paragon
Films second lien term loan. The exit of this investment occurred
pursuant to a sale of the company to a new sponsor and accompanying
recapitalization. The aforementioned $21.0 million investment in
Paragon Films was an investment in the post-sale capital
structure;
- $26.1 million partial repayment of
unsecured debt to GBFC;
- $3.0 million partial repayment of
NorthStar Financial second lien term loan; and
- A $3.0 million revolver commitment to
Bankruptcy Management Solutions was terminated resulting in a
complete exit from this investment. The revolver was unfunded.
- Our $96.3 million equity investment in
BCIC Senior Loan Partners (“SLP”) is generating a yield of greater
than 12%. During the first quarter, SLP made investments into one
new portfolio company and four existing portfolio companies
totaling $11.9 million of new capital deployments during the
quarter. Total committed capital and outstanding investments, at
par, amounted to $369.7 million and $354.5 million, respectively,
to 28 borrowers. The new investment, at par, was a $3.1 million
first lien term loan to Research Now Group, LLC, a global leader in
data collection through online, mobile, and offline surveys.
Incremental investments to existing portfolio companies primarily
included an additional $4.1 million investment in Protective
Industrial Products, Inc., and an additional $3.6 million
investment in MSHC, Inc. (Service Logic Acquisition).
- As of March 31, 2019, there were three
non-accrual investment positions, representing approximately 1.6%
and 7.0% of total debt and preferred stock investments, at fair
value and cost, respectively, as compared to non-accrual investment
positions of approximately 1.6% and 7.1% of total debt and
preferred stock investments at fair value and cost, respectively,
at December 31, 2018. Our average internal investment rating at
fair market value at March 31, 2019 was 1.49 as compared to 1.44 as
of the prior quarter end.
- During the quarter ended March 31,
2019, net realized and unrealized gains were $6.6 million,
primarily due to appreciation in portfolio valuations during the
quarter.
First Quarter Financial Updates
- GAAP net investment income (“NII”) was
$11.4 million, or $0.17 per share, for the three months ended March
31, 2019. Relative to distributions declared of $0.18 per share,
our NII distribution coverage was 92% for the quarter.
- As previously disclosed, our base
management fee rate was reduced from an annual rate of 2.00% of
total assets to 1.75%, effective March 7, 2017, and incentive
management fees based on income were waived by our investment
adviser until June 30, 2019. For the quarter ended March 31, 2019,
we incurred base management fees of $2.9 million. Incentive
management fees based on income of $2.3 million were earned and
waived by our adviser during the current quarter. Additionally,
$18.8 million of incentive management fees have been waived on a
cumulative basis. For incentive management fees based on gains,
there was no accrual as of March 31, 2019.
- Tax characteristics of all 2018
distributions were reported to stockholders on Form 1099 after the
end of the calendar year. Our 2018 distributions of $0.72 per share
were comprised of $0.70 per share from various sources of income
and $0.02 per share of return of capital. Our return of capital
distributions totaled $1.98 per share from inception to December
31, 2018. At our discretion, we may carry forward taxable income in
excess of calendar year distributions and pay a 4% excise tax on
this income. We will accrue excise tax on estimated undistributed
taxable income as required. There was no undistributed taxable
income carried forward from 2018.
Liquidity and Capital Resources
- At March 31, 2019, we had $27.1 million
in cash and cash equivalents and $241.7 million of availability
under our credit facility, subject to leverage restrictions,
resulting in approximately $268.8 million of availability for
portfolio company investments.
- Net leverage, adjusted for available
cash, receivables for investments sold, payables for investments
purchased and unamortized debt issuance costs, stood at 0.37x at
quarter-end, and our 328% asset coverage ratio provided the Company
with available debt capacity under its asset coverage requirements
of $274.7 million. Further, as of quarter-end, approximately 77% of
our portfolio was invested in qualifying assets, exceeding the 70%
regulatory requirement of a business development company.
Conference Call
BlackRock Capital Investment Corporation will host a
webcast/teleconference at 10:00 a.m. (Eastern Time) on Thursday,
May 2, 2019, to discuss its first quarter 2019 financial results.
All interested parties are welcome to participate. You can access
the teleconference by dialing, from the United States, (800)
458-4148, or from outside the United States, +1-720-543-0206, 10
minutes before 10:00 a.m. and referencing the BlackRock Capital
Investment Corporation Conference Call (ID Number 3027722). A live,
listen-only webcast will also be available via the Investor
Relations section of www.blackrockbkcc.com. Both the teleconference
and webcast will be available for replay by 1:00 p.m. on Thursday,
May 2, 2019 and ending at 1:00 p.m. on Thursday, May 16, 2019. To
access the replay of the teleconference, callers from the United
States should dial (888) 203-1112 and callers from outside the
United States should dial (719) 457-0820 and enter the Conference
ID Number 3027722.
Prior to the webcast/teleconference, an investor presentation
that complements the earnings conference call will be posted to
BlackRock Capital Investment Corporation’s website within the
Presentations section of the Investors page (http://www.blackrockbkcc.com/news-and-events/disclaimer).
About BlackRock Capital Investment Corporation
BlackRock Capital Investment Corporation is a business
development company that provides debt and equity capital to
middle-market companies.
The Company's investment objective is to generate both current
income and capital appreciation through debt and equity
investments. The Company invests primarily in middle-market
companies in the form of senior and junior secured and unsecured
debt securities and loans, each of which may include an equity
component, and by making direct preferred, common and other equity
investments in such companies.
BlackRock Capital Investment
Corporation
Consolidated Statements of Assets and
Liabilities
March 31,
2019
December 31,
2018
Assets Investments at fair value: Non-controlled,
non-affiliated investments (cost of $253,938,127 and $233,331,450)
$ 218,148,636 $ 200,569,644 Non-controlled, affiliated investments
(cost of $114,252,403 and $130,892,674) 99,991,510 111,727,234
Controlled investments (cost of $387,251,367 and $388,870,375)
362,234,127 359,356,068 Total
investments at fair value (cost of $755,441,897 and $753,094,499)
680,374,273 671,652,946 Cash and cash equivalents 27,107,015
13,497,320 Receivable for investments sold 2,002,968 1,691,077
Interest, dividends and fees receivable 9,945,510 4,084,001 Prepaid
expenses and other assets 2,368,966 2,707,036
Total Assets $ 721,798,732 $ 693,632,380
Liabilities Debt (net of deferred financing costs of
$2,997,396 and $3,227,965) $ 208,835,348 $ 186,397,728 Interest and
credit facility fees payable 2,576,255 722,841 Distributions
payable 12,390,525 12,552,212 Base management fees payable
2,923,149 3,494,520 Payable for investments purchased — 989,460
Accrued administrative services 739,812 376,507 Other accrued
expenses and payables 2,204,539 2,078,958
Total Liabilities 229,669,628
206,612,226
Net Assets Common stock, par value $.001
per share, 200,000,000 common shares authorized, 77,861,287 and
77,861,287 issued and 68,836,255 and 68,921,798 outstanding 77,861
77,861 Paid-in capital in excess of par 853,248,794 853,248,794
Distributable earnings (losses) (298,528,296 ) (304,106,473 )
Treasury stock at cost, 9,025,032 and 8,939,489 shares held
(62,669,255 ) (62,200,028 ) Total Net Assets
492,129,104 487,020,154 Total Liabilities and
Net Assets $ 721,798,732 $ 693,632,380 Net Asset
Value Per Share $ 7.15 $
7.07
BlackRock Capital Investment
Corporation
Consolidated Statements of
Operations
Three MonthsendedMarch
31, 2019(Unaudited)
Three MonthsendedMarch
31, 2018(Unaudited)
Investment Income: Non-controlled, non-affiliated
investments: Cash interest income $ 5,942,016 $ 7,144,027 PIK
interest income 240,184 — Fee income 475,407
465,206 Total investment income from non-controlled,
non-affiliated investments 6,657,607 7,609,233
Non-controlled, affiliated investments: Cash interest income
1,222,251 2,214,613 PIK interest income — 690,960 PIK dividend
income 220,480 189,026 Fee income — 35,000
Total investment income from non-controlled, affiliated
investments 1,442,731 3,129,599
Controlled investments: Cash interest income 6,900,738 5,085,705
PIK interest income — 766,466 Cash dividend income 4,191,703
3,126,861 PIK dividend income — 731,516 Fee income 121,862
387,058 Total investment income from
controlled investments 11,214,303 10,097,606
Total investment income 19,314,641
20,836,438
Expenses: Base management fees 2,923,149
3,312,369 Incentive management fees 2,280,836 1,735,195 Interest
and credit facility fees 3,392,434 3,708,958 Professional fees
473,043 733,164 Administrative services 363,305 553,764 Director
fees 193,000 187,000 Investment advisor expenses 87,500 87,500
Other 478,029 630,737 Total expenses,
before incentive management fee waiver 10,191,296
10,948,687 Incentive management fee waiver
(2,280,836 ) (1,735,195 ) Expenses, net of incentive
management fee waiver 7,910,460 9,213,492
Net Investment Income 11,404,181
11,622,946
Realized and Unrealized Gain
(Loss): Net realized gain (loss): Non-controlled,
non-affiliated investments 325,489 (50,515,956 ) Non-controlled,
affiliated investments (269,226 ) — Controlled investments —
(26,118,432 ) Net realized gain (loss) 56,263
(76,634,388 ) Net change in unrealized appreciation
(depreciation) on: Non-controlled, non-affiliated investments
(2,684,053 ) 43,690,517 Non-controlled, affiliated investments
4,560,914 1,422,575 Controlled investments 4,497,067 19,156,544
Foreign currency translation 134,330 (173,911
) Net change in unrealized appreciation (depreciation)
6,508,258 64,095,725 Net realized and
unrealized gain (loss) 6,564,521 (12,538,663 )
Net Increase (Decrease) in Net Assets Resulting from
Operations $ 17,968,702 $ (915,717 ) Net Investment
Income Per Share-basic $ 0.17 $ 0.16 Earnings (Loss)
Per Share-basic $ 0.26 $ (0.01 ) Average Shares
Outstanding-basic 68,837,612 72,991,828
Net Investment Income Per Share-diluted $ 0.16 $ 0.15
Earnings (Loss) Per Share-diluted $ 0.24 $ (0.01 ) Average
Shares Outstanding-diluted 85,831,349
89,985,565 Distributions Declared Per Share
$ 0.18 $ 0.18
Supplemental Information
The Company reports its financial results on a GAAP basis;
however, management believes that evaluating the Company’s ongoing
operating results may be enhanced if investors have additional
non-GAAP basis financial measures. Management reviews non-GAAP
financial measures to assess ongoing operations and, for the
reasons described below, considers them to be effective indicators,
for both management and investors, of the Company’s financial
performance over time. The Company’s management does not advocate
that investors consider such non-GAAP financial measures in
isolation from, or as a substitute for, financial information
prepared in accordance with GAAP.
Until March 6, 2017, the Company recorded its liability for
incentive management fees based on income as it became legally
obligated to pay them, based on a hypothetical liquidation at the
end of each reporting period. The Company’s obligation to pay
incentive management fees with respect to any fiscal quarter until
March 6, 2017 was based on a formula that reflects the Company’s
results over a trailing four-fiscal quarter period ending with the
pro-rated period until March 6, 2017. The Company is legally
obligated to pay the amount resulting from the formula less any
cash payments of incentive management fees during the prior three
quarters. The formula’s requirement to reduce the incentive
management fee by amounts paid with respect to such fees in the
prior three quarters caused the Company’s incentive management fee
expense to become concentrated in the fourth quarter of each year.
Management believes that reflecting incentive management fees
throughout the year, as the related investment income is earned, is
an effective measure of the Company’s profitability and financial
performance that facilitates comparison of current results with
historical results and with those of the Company’s peers. The
Company’s “as adjusted” results reflect incentive management fees
based on the formula the Company utilizes for each trailing
four-fiscal quarter period until March 6, 2017, with the formula
applied to each quarter’s incremental earnings and without any
reduction for incentive management fees paid during the prior three
quarters. The resulting amount represents an upper limit of each
quarter’s incremental incentive management fees that the Company
may become legally obligated to pay at the end of the year. Prior
year amounts are estimated in the same manner. These estimates
represent upper limits because, in any calendar year, subsequent
quarters’ investment underperformance could reduce the incentive
management fees payable by the Company with respect to prior
quarters’ operating results. After March 6, 2017, incentive
management fees based on income have been calculated for each
calendar quarter and are paid on a quarterly basis if certain
thresholds are met. The Company records its liability for incentive
management fees based on capital gains by performing a hypothetical
liquidation at the end of each reporting period. The accrual of
this hypothetical capital gains incentive management fee is
required by GAAP, but it should be noted that a fee so calculated
and accrued is not due and payable until the end of the measurement
period, or every June 30. The incremental incentive management fees
disclosed for a given period are not necessarily indicative of
actual full year results. Changes in the economic environment,
financial markets and other parameters used in determining such
estimates could cause actual results to differ and such differences
could be material. In addition, on March 7, 2017, BlackRock
Advisors, in consultation with the Company’s Board of Directors,
agreed to waive incentive fees based on income after March 6,
2017 to December 31, 2018, which was extended to June 30,
2019. BCIA has agreed to honor such waiver. For a more detailed
description of the Company’s incentive management fee, please refer
to the Company's Annual Report on Form 10-K for the fiscal year
ended December 31, 2018, on file with the Securities and Exchange
Commission ("SEC").
Computations for the periods below are derived from the
Company's financial statements as follows:
Three monthsendedMarch
31, 2019
Three monthsendedMarch
31, 2018
GAAP Basis: Net Investment Income $ 11,404,181 $ 11,622,946
Net Investment Income per share 0.17 0.16 Addback: GAAP incentive
management fee expense based on Gains — — Addback: GAAP incentive
management fee expense based on Income — —
Pre-Incentive Fee
1 : Net Investment Income $ 11,404,181 $ 11,622,946
Net Investment Income per share 0.17 0.16 Less: Incremental
incentive management fee expense based on Income — —
As
Adjusted 2 : Net Investment Income $ 11,404,181 $
11,622,946 Net Investment Income per share
0.17 0.16 Note: The Net
Investment Income amounts for the three months ended March 31, 2019
and 2018 are net of incentive management fees based on income and a
corresponding incentive management fee waiver in the amounts of
$2,280,836 and $1,735,195, respectively. For the periods shown,
there is no difference between the GAAP and as adjusted figures;
however, there may be a difference in future periods.
1 Pre-Incentive Fee: Amounts are
adjusted to remove all incentive management fees. Such fees are
calculated but not necessarily due and payable at this time.
2 As Adjusted: Amounts are adjusted
to remove the incentive management fee expense based on gains, as
required by GAAP, and to include only the incremental incentive
management fee expense based on Income. Until March 6, 2017, the
incremental incentive management fee was calculated based on the
current quarter's incremental earnings, and without any reduction
for incentive management fees paid during the prior calendar
quarters. After March 6, 2017, incentive management fee expense
based on income has been calculated for each calendar quarter and
may be paid on a quarterly basis if certain thresholds are met.
Amounts reflect the Company's ongoing operating results and reflect
the Company's financial performance over time.
Forward-looking statements
This press release, and other statements that BlackRock Capital
Investment Corporation may make, may contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act, with respect to BlackRock Capital Investment
Corporation’s future financial or business performance, strategies
or expectations. Forward-looking statements are typically
identified by words or phrases such as “trend,” “potential,”
“opportunity,” “pipeline,” “believe,” “comfortable,” “expect,”
“anticipate,” “current,” “intention,” “estimate,” “position,”
“assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,”
“seek,” “achieve,” and similar expressions, or future or
conditional verbs such as “will,” “would,” “should,” “could,” “may”
or similar expressions.
BlackRock Capital Investment Corporation cautions that
forward-looking statements are subject to numerous assumptions,
risks and uncertainties, which may change over time.
Forward-looking statements speak only as of the date they are made,
and BlackRock Capital Investment Corporation assumes no duty to and
does not undertake to update forward-looking statements. Actual
results could differ materially from those anticipated in
forward-looking statements and future results could differ
materially from historical performance.
In addition to factors previously disclosed in BlackRock Capital
Investment Corporation’s SEC reports and those identified elsewhere
in this press release, the following factors, among others, could
cause actual results to differ materially from forward-looking
statements or historical performance: (1) our future operating
results; (2) our business prospects and the prospects of our
portfolio companies; (3) the impact of investments that we expect
to make; (4) our contractual arrangements and relationships with
third parties; (5) the dependence of our future success on the
general economy and its impact on the industries in which we
invest; (6) the financial condition of and ability of our current
and prospective portfolio companies to achieve their objectives;
(7) our expected financings and investments; (8) the adequacy of
our cash resources and working capital, including our ability to
obtain continued financing on favorable terms; (9) the timing of
cash flows, if any, from the operations of our portfolio companies;
(10) the impact of increased competition; (11) the ability of our
investment advisor to locate suitable investments for us and to
monitor and administer our investments; (12) potential conflicts of
interest in the allocation of opportunities between us and other
investment funds managed by our investment advisor or its
affiliates; (13) the ability of our investment advisor to attract
and retain highly talented professionals; (14) changes in law and
policy accompanying the new administration and uncertainty pending
any such changes; (15) increased geopolitical unrest, terrorist
attacks or acts of war, which may adversely affect the general
economy, domestic and local financial and capital markets, or the
specific industries of our portfolio companies; (16) changes and
volatility in political, economic or industry conditions, the
interest rate environment, foreign exchange rates or financial and
capital markets; (17) the unfavorable resolution of legal
proceedings; and (18) the impact of changes to tax legislation and,
generally, our tax position.
BlackRock Capital Investment Corporation’s Annual Report on Form
10-K for the year ended December 31, 2018, filed with the SEC
identifies additional factors that can affect forward-looking
statements.
Available Information
BlackRock Capital Investment Corporation’s filings with the SEC,
press releases, earnings releases and other financial information
are available on its website at www.blackrockbkcc.com. The
information contained on our website is not a part of this press
release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190501005934/en/
Investor Contact:Nik Singhal212.810.5427Press
Contact:Brian Beades212.810.5596
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