DALLAS, June 8, 2020 /PRNewswire/ -- Vertical Capital
Income Fund (NYSE: VCIF) today announced a distribution of
$0.026 per share, payable as
follows:
Declaration –
6/8/2020
Ex-Date – 6/17/2020
Record Date – 6/18/2020 Payable –
6/30/2020
The Fund had approximately $2.9
million in cash as of May 31,
2020. Approximately $7.8
million was committed as of the same date in the acquisition
pipeline to loans that have already been awarded to the Fund and
were either in due diligence or through due diligence and awaiting
closing. Pending acquisitions are subject to various closing
conditions, and the Fund cannot guarantee that those acquisitions
will close.
A new monthly net asset value per share of $12.05 was produced on May
29, 2020. For information on the Fund's current net
asset value per share, please visit the Fund's website at
vertical-incomefund.com.
The Fund's distribution rate may be affected by numerous
factors, including changes in realized and projected market
returns, Fund performance, and other factors. There can be no
assurance that an unanticipated change in market conditions or
other unforeseen factors will not result in a change in the Fund's
distribution rate at a future time. The public health crises
caused by the COVID-19 outbreak may exacerbate other pre-existing
political, social and economic risks to which the Fund is
exposed. The duration of the COVID-19 outbreak and its
effects cannot be determined with certainty. In order
to comply with the requirements of Section 19 of the Investment
Company Act of 1940, the Fund will provide its shareholders of
record on each distribution date with a 19(a) Notice and issue an
accompanying press release disclosing the sources of its
distribution payment when a distribution includes anything other
than net investment income.
The amounts and sources of distributions reported in 19(a)
Notices are only estimates and are not provided for tax reporting
purposes. The actual amounts and sources of the amounts for tax
reporting purposes will depend upon the Fund's investment
experience during its full fiscal year and may be subject to
changes based on tax regulations. The Fund will send shareholders a
Form 1099-DIV for the calendar year that will tell them how to
report these distributions for federal income tax purposes.
Information on the Fund's 19(a) Notices, if any, can be found at
www.vertical-incomefund.com. The final determination of the source
and tax characteristics of all distributions in 2020 will be made
after the end of the year.
Shares of closed-end funds often trade at a discount from
their net asset value. The market price of Fund shares may vary
from net asset value based on factors affecting the supply and
demand for shares, such as Fund distribution rates relative to
similar investments, investors' expectations for future
distribution changes, the clarity of the Fund's investment strategy
and future return expectations, and investors' confidence in the
underlying markets in which the Fund invests. Fund shares are
subject to investment risk, including possible loss of principal
invested. No Fund is a complete investment program and you may lose
money investing in a Fund. An investment in the Fund may not be
appropriate for all investors. Before investing, prospective
investors should consider carefully the Fund's investment
objective, risks, charges and expenses. For
further details, please visit Vertical Capital Income Fund's
website at vertical-incomefund.com.
This release contains forward-looking statements relating to
the business and financial outlook of Vertical Capital Income Fund
that are based on the Fund's current expectations, estimates,
forecasts and projections and are not guarantees of future
performance. There is no assurance that the Fund will achieve its
investment objective. Actual results may differ materially from
those expressed in these forward-looking statements, and you should
not place undue reliance on any such statements. A number of
important factors could cause actual results to differ materially
from the forward-looking statements contained in this
release.
About Vertical Capital Income Fund
Vertical Capital Income Fund is an NYSE listed closed-end fund
that primarily invests in residential whole mortgage loans and
residential whole loans secured by deeds of trust. The
investment objective of the Fund is to seek income.
About Oakline Advisors, LLC
Oakline Advisors, LLC is the adviser to Vertical Capital Income
Fund. Founded in 2013, Oakline Advisors, LLC is an
SEC-registered investment adviser that specializes in the
residential whole loan market. It is a wholly owned subsidiary of
Dallas, TX-based Behringer.
Since its inception in 1989, Behringer, together with its
affiliates, has raised equity of more than $6 billion in assets through public and private
fund structures. For more information about Oakline and
Behringer please visit their respective websites at
oaklineadvisors.com and behringerinvestments.com.
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SOURCE Vertical Capital Income Fund