NEW YORK--(BUSINESS WIRE)--Sep. 26, 2017--
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not validly withdrawn pursuant to the Tender Offer.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validly withdrawn pursuant to the Tender Offer at a purchase price equal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/
Source: BlackRock Capital Investment Corporation
BlackRock Capital Investment Corporation
Investors:
Nik
Singhal, 212-810-5427
or
Press:
Brian Beades,
212-810-5596