Alcentra Capital Corporation Announces Strategic Alternatives Review
Alcentra Capital Corporation Announces Strategic Alternatives Review |
[04-April-2019] |
NEW YORK, April 4, 2019 /PRNewswire/ -- Alcentra Capital Corporation (NASDAQ: ABDC) today announced that its Board of Directors has entered into a formal review process to evaluate strategic alternatives for the Company. The Board of Directors has authorized its Committee of Independent Directors to lead the process. Edward Grebow, chair of the Committee of Independent Directors, stated, "We are very pleased with the progress management continues to make in rotating the Company's legacy assets into upper middle-market senior secured investments and stabilizing the Company's net asset value. As management continues its efforts to increase value for our stockholders, the Board believes it is also important at this time to explore additional options that may be available to further enhance the value of the Company." The Board of Directors has not set a timetable for the conclusion of the strategic alternatives review. There can be no assurance that the review will result in a transaction or change the Company's announced strategy. The Company does not intend to comment further regarding the review unless or until it determines that further disclosure is appropriate or required by law. The Committee of Independent Directors has engaged Houlihan Lokey as its financial advisor. In light of the strategic alternatives review, the Company expects to hold its 2019 annual meeting of stockholders in the fourth quarter of 2019. About Alcentra Capital Corporation Alcentra Capital Corporation is an externally managed, closed-end, non-diversified management investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. In addition, for tax purposes, the Company has elected to be treated as a regulated investment company, under Subchapter M of the Internal Revenue Code of 1986. FORWARD-LOOKING STATEMENTS View original content:http://www.prnewswire.com/news-releases/alcentra-capital-corporation-announces-strategic-alternatives-review-300825138.html SOURCE Alcentra Capital Corporation | ||
Company Codes: NASDAQ-NMS:ABDC |
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