Current Report Filing (8-k)
July 10 2019 - 4:33PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant to Section 13 OR 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 10, 2019
Gladstone Capital Corporation
(Exact name of registrant as specified in its charter)
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Maryland
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814-00237
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54-2040781
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(IRS Employer
Identification No.)
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1521 Westbranch Drive, Suite 100
McLean, Virginia
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22102
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(Address of principal executive offices)
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(Zip Code)
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(703)
287-5800
(Registrants telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form
8-K
filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:
☐
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting material pursuant to Rule
14a-12
under the Exchange Act (17
CFR
240.14a-12)
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☐
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Pre-commencement
communications pursuant to Rule
14d-2(b)
under the Exchange Act (17 CFR
240.14d-2(b))
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☐
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Pre-commencement
communications pursuant to Rule
13e-4(c)
under the Exchange Act (17 CFR
240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
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Name of each exchange on which registered
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Common Stock, $0.001 par value per share
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Nasdaq Global Select Market
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6.00% Series 2024 Term Preferred Stock, $0.001 par value per share
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Nasdaq Global Select Market
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6.125% Notes due 2023, $25.00 par value per share
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Nasdaq Global Select Market
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of
1933 (§230.405 of this chapter) or Rule
12b-2
of the Securities Exchange Act of 1934
(§240.12b-2
of this chapter).
Emerging growth company ☐
If an emerging
growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange
Act. ☐
Item 1.01
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Entry into a Material Definitive Agreement.
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On July 10, 2019, Gladstone Capital Corporation (the Company), through its wholly-owned subsidiary Gladstone Business Loan, LLC, entered into
Amendment No. 5 to its Fifth Amended and Restated Credit Agreement with KeyBank National Association (KeyBank), as administrative agent, swingline lender, managing agent and lead arranger, Gladstone Management Corporation, the
Companys Adviser, as servicer, and certain other lenders party thereto (together with Amendment No. 5, the Credit Facility).
Amendment No. 5 amended the Credit Facility to: (i) reduce the minimum asset coverage with respect to senior securities representing indebtedness
from 200% to 150% (or such percentage as may be set forth in the Investment Company Act of 1940, as amended); (ii) amend the excess concentration limits definition to decrease the limit for
non-first
lien
loans from 60% to 50% under certain circumstances; and (iii) amend the distributions covenant to allow a distribution to be applied towards the redemption of the Companys 6.00% Series 2024 Term Preferred Stock. The Credit Facility
continues to include customary terms, covenants, events of default and constraints on borrowing availability based on collateral tests for a credit facility of its size and nature.
The foregoing summary of the Credit Facility is not complete and is qualified in its entirety by reference to Amendment No. 5, which is filed as
Exhibit 10.1 to this Current Report on Form
8-K
and incorporated by reference herein.
Item 2.03
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Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance
Sheet Arrangement of a Registrant.
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The information set forth under Item 1.01 is
hereby incorporated by reference into this Item 2.03.
Item 9.01
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Financial Statements and Exhibits.
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(d) Exhibits.
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Exhibit
No.
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Description
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10.1
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Amendment No. 5 to Fifth Amended and Restated Credit Agreement, dated as of July
10, 2019 by and among Gladstone Business Loan, LLC, as Borrower, Gladstone Management Corporation, as Servicer, KeyBank National Association, as administrative agent, swingline lender, managing agent and lead arranger and certain other lenders party thereto.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
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Dated: July 10, 2019
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GLADSTONE CAPITAL CORPORATION
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By:
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/s/ Nicole Schaltenbrand
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Nicole Schaltenbrand
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Chief Financial Officer & Treasurer
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