Ignite Restaurant Group: Potential Lay-Offs
Premium Free Activist News Debt Investor Dividend Best IdeasBDC Exposure: $23mn
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Payless : Expands Store Closure Plans
Premium Free Activist News Debt Investor Dividend Best IdeasBDC Exposure: $67mn
Fifth Street Asset Management Being Sold To Oaktree Capital
Premium Free Activist News Debt Investor Dividend Best IdeasIn Breaking News, Fifth Street Asset Management sells to Oaktree Capital. The two public BDCs controlled by Fifth Street Asset Management jump in price. Just as the BDC Reporter has been expecting (except for Oaktree). We explains the whys and wherefores of the Big News, which is still very much in progress.
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Securus Technologies: Petitions FCC Regarding Sale
Premium Free Activist News Debt Investor Dividend Best IdeasBDC Exposure: $54mn.
Securus Technologies is in the midst of a buy-out. Activists have challenged the deal at the FCC. The BDC Credit Reporter assesses the chances of a last minute block.
OHA Investment: All Time Low
Premium Free Activist News Debt Investor Dividend Best IdeasOHA Investment reaches a new price milestone. The BDC Reporter provides an update and some background reading.
Mood Media: Jurisdiction Change
Premium Free Activist News Debt Investor Dividend Best IdeasBDC exposure: $137mn.
Mood Media has completed its Chapter 15 Canadian restructuring and made the move to a U.S. jurisdiction. Financial challenges remain unchanged.
Hercules Capital: Announces Investment Activity
Premium Free Activist News Debt Investor Dividend Best IdeasHercules Capital issues one of its regular press releases about select portfolio company activity. The BDC News Of The Day comments on how investors can or cannot use the information provided.
WhiteHorse Finance: Analyst Upgrade
Premium Free Activist News Debt Investor Dividend Best IdeasWhiteHorse Finance receives a nod from an analyst. The BDC News Of The Day provides the details, recaps the situation and provides full disclosure about our own activity in the common stock.
Closed End Fund Advisors: Adds TCG BDC To BDC Universe
Premium Free Activist News Debt Investor Dividend Best IdeasThe BDC Reporter suggests a useful research tool for anyone doing BDC research, or wanting further information on the newest BDC.
Hercules Capital: Senior Manager Departure
Premium Free Activist News Debt Investor Dividend Best IdeasA senior manager resigns at Hercules Capital. BDC News Of The Day reviews the details and discusses where HTGC sits a few weeks after its CEO sought unsuccessfully to switch its management from internal to external.
TCG BDC: Part II Of A Series: Compensation
Premium Free Activist News Debt Investor Dividend Best IdeasThe BDC Reporter – in Part II of a multiple part series – reviews the compensation arrangements at the newest BDC: TCG BDC. Many of the terms will be familiar to BDC investors, but there are a couple of twists that both help and hinder shareholders. The BDC Reporter also discusses how compensation and strategy and credit quality intertwine.
WhiteHorse Finance: Stock Price Down
Premium Free Activist News Debt Investor Dividend Best IdeasWhiteHorse Finance’s stock price has dropped sharply. We explain the reason and speculate as to where the next direction might be.
Gladstone Investment: Proxy Solicitation Conference Call
Premium Free Activist News Debt Investor Dividend Best IdeasGladstone Investment held a Conference Call to encourage shareholders to vote on Proxy proposals. CEO David Gladstone made an argument about why shareholders should approve share issues below NAV. The BDC Reporter had something to say about that…
WhiteHorse Finance: Secondary Stock Offering
Premium Free Activist News Debt Investor Dividend Best IdeasWhiteHorse Finance is raising new equity, but insiders are selling out a position at the same time. We review the Prospectus, offer up the key details and delineate the principal credit risks and discuss the insiders sale.
Medallion Financial: Shareholder Vote Results
Premium Free Activist News Debt Investor Dividend Best IdeasMedallion Financial publishes results of its shareholder meeting. Not a close run thing, but the BDC News Of The Day details the outcomes and discusses BDC corporate governance and what matters most.
Medley Capital: New Insider Purchases Bring Ownership To New Peak
Premium Free Activist News Debt Investor Dividend Best IdeasContinuing a long running story, BDC News Of The Day reports on the latest insider purchases at Medley Capital, as well as provide readers new to the stock accumulation with useful links.
BDC Market Recap: Week Ended June 23, 2017
Premium Free Activist News Debt Investor Dividend Best IdeasWhat is happening to BDC common stocks and Baby Bond prices and trends ? We undertake our Weekly Recap. Regular readers will not be surprised, but we through the exercise anyway.
Medley Capital: Director Resigns
Premium Free Activist News Debt Investor Dividend Best IdeasMedley Capital issues 8-K filing regarding the sudden departure and immediate replacement of an independent Director, which occurred several days previously. The BDC Reporter provides what facts are known and offers up alternative conclusions to the BDC’s shareholders.
BDC News Of The Day Round-Up: June 23, 2017
Premium Free Activist News Debt Investor Dividend Best IdeasOn a slow day, BDC News Of The Day reviews insider purchases and sales at 4 different BDCs. Then we segue into a non-sequitur about BDC distribution cuts. Mr Market seems to be counting on a third of BDCs to cut their pay-outs before long. The BDC Reporter’s list is even longer. We offer to share our names with any subscriber wanting confirmation or beginning to sweat.
Apollo Investment: Posts Presentation
Premium Free Activist News Debt Investor Dividend Best IdeasApollo Investment present at a financial services conference to discuss their new strategy. The BDC Reporter uses the numbers in the slide show to point out that the math does not work without a couple of drastic changes by the BDC’s Investment Advisor.