UNITED
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WASHINGTON,
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SCHEDULE
14A
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Preliminary
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Definitive
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Definitive
Additional Materials
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Soliciting
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BLACKROCK
KELSO CAPITAL CORPORATION
(Name
of Registrant as Specified in Its Charter)
(Name
of Person(s) Filing Proxy Statement, if Other Than the Registrant)
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Frank
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Brian
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212.810.5858
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212.810.5596
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BlackRock
Kelso Capital Corporation Announces Board Action
New York, April 22, 2008 -
BlackRock Kelso Capital Corporation (NASDAQ:BKCC) (“BlackRock Kelso” or the “Company”) announced today that its Board
of Directors (the “Board”) has adopted a policy with respect to proposal number
three of the Company’s 2008 definitive proxy statement.
In
proposal three, the Company seeks the approval of the holders of its common
stock so that it may, in one or more public or private offerings and with
approval of the Board and subject to certain other conditions, sell or otherwise
issue shares of its common stock at a price below its then current net asset
value. If approved by stockholders, the authorization would be effective for a
period expiring on the earlier of the anniversary of the date of the Company’s
2008 Annual Meeting of Stockholders, which is to be held on April 24, 2008, or
the date of the Company’s 2009 Annual Meeting of Stockholders, which is expected
to be held in May 2009.
Yesterday
the Board determined to limit the ability of the Company to sell common stock
below net asset value, if proposal three is approved by stockholders, to
circumstances in which the price per share of the Company’s common stock is
equal to 95% or greater of the Company’s net asset value per share in effect for
the Company on the date any such sale is priced.
If
you are a BlackRock Kelso stockholder and have not yet voted or wish to change
your vote, we urge you to vote by phone or through the internet using the
instructions provided on your proxy ballot, or alternatively, you may vote by
faxing both sides of your signed proxy ballot to PFPC Inc. at
508.871.9462. Please contact PFPC Inc. at 508.871.3771 if you need a
duplicate of your proxy ballot.
About
BlackRock Kelso Capital Corporation
BlackRock
Kelso Capital Corporation is a business development company formed in early 2005
by its management team, BlackRock, Inc. and principals of Kelso & Company,
to provide 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.
Available
Information
BlackRock
Kelso Capital Corporation’s filings with the Securities and Exchange Commission,
press releases, earnings releases and other financial information are available
on its website at www.blackrockkelso.com.
Forward-Looking Statements
Statements included herein may
constitute “forward looking
statements.” These
statements are not guarantees of future performance or results and involve a
number of risks and uncertainties. Actual results may differ materially from
those in the
forward-looking statements as a result of a number of factors, including those
described from time to time in our filings with the Securities and Exchange
Commission. The Company undertakes no duty to update any forward looking
statements made herein.
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