BlackRock Capital Investment Corp. Announces Expiration & Final Results of Tender Offer for Any & All of Its Outstanding 5.50...
September 26 2017 - 9:00AM
Business Wire
BlackRock Capital Investment Corporation (NASDAQ:BKCC) (the
“Company”) announced today the expiration and final results of the
Company’s previously announced offer to purchase (the “Tender
Offer”) for cash any and all of its outstanding 5.50% Convertible
Senior Notes due 2018 (CUSIP No. 092533AB4) (the “Notes”).
The Tender Offer expired at 12:00 midnight, New York City time,
on September 26, 2017 (one minute after 11:59 p.m., New York City
time, on September 25, 2017). As of the expiration of the Tender
Offer, $59,959,000 aggregate principal amount of the Notes,
representing approximately 52.14% of the outstanding Notes, were
validly tendered and not validly withdrawn pursuant to the Tender
Offer. The Company has accepted for purchase all Notes that were
validly tendered and not validly withdrawn pursuant to the Tender
Offer at a purchase price equal to $1,015.00 per $1,000 principal
amount of Notes (plus accrued and unpaid interest on such Notes, if
any, from August 15, 2017, up to but not including the settlement
date). The Company expects to settle the Tender Offer on September
27, 2017.
Following settlement of the Tender Offer, approximately
$55,041,000 aggregate principal amount of Notes will remain
outstanding.
Global Bondholder Services Corporation served as the information
agent and the depositary for the Tender Offer.
This press release is for informational purposes only and is
neither an offer to buy nor the solicitation of an offer to sell
any Notes. The Tender Offer is being made solely pursuant to the
Offer to Purchase, the Letter of Transmittal and related materials,
as they may be amended or supplemented. Holders should read the
Company’s commencement Tender Offer statement on Schedule TO filed
with the SEC in connection with the Tender Offer, which includes as
exhibits the Offer to Purchase, the Letter of Transmittal and
related materials, as well as any amendments or supplements to the
Schedule TO. Each of these documents have been filed with the SEC
and holders may obtain them for free from the SEC at its website
(www.sec.gov) or from the Company’s information agent in connection
with the Tender Offer at (212) 430-3774 (US toll-free) or (866)
470-4200 (collect).
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, 2016, 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 the Company’s website is not a part of
this press release.
About BlackRock Capital Investment Corporation
Formed in 2005, BlackRock Capital Investment Corporation is a
business development company that provides debt and equity
capital to middle-market companies.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170926006049/en/
BlackRock Capital Investment
CorporationInvestors:Nik Singhal,
212-810-5427orPress:Brian Beades, 212-810-5596
BlackRock Capital Invest... (NASDAQ:BKCC)
Historical Stock Chart
From Aug 2024 to Sep 2024
BlackRock Capital Invest... (NASDAQ:BKCC)
Historical Stock Chart
From Sep 2023 to Sep 2024