Notable News to Watch: Alcentra Capital Corporation (NASDAQ:ABDC)

On Tuesday Alcentra Capital Corporation (NASDAQ:ABDC) stock recorded daily change of 0% to close at $8.81 with the total traded volume of 26092 shares along average volume of 26473 shares 52 week range of the stock remained $ 5.77 – 9.4 while its day low price was $8.8 and its hit its day high price at $8.89. Its previous closing value stands at $8.81. ABDC total market capitalization is $113437565. Currently stocks EPS is $0.4 while its price to earnings ratio is 21.89

On Nov. 5, 2019, Alcentra Capital Corporation (NASDAQ:ABDC) a provider of debt financing solutions to middle-market companies based primarily in the United States, released its financial results for the third quarter of 2019.

Third Quarter 2019 Highlights

  • Total investment income of $5.6 million
  • Net investment income of $1.7 million, or $0.13 per share
  • Received proceeds from repayments, loan dispositions and amortization on investments of approximately $2.8 million
  • Net asset value of $141.4 million, or $10.98 per share
  • Weighted average debt portfolio yield of approximately 10.6%

Suhail A. Shaikh, Chief Executive Officer of the Company, stated, We were pleased with the performance of our investments, despite the volatility in leveraged finance markets.  Our focus has been to maintain the quality of the portfolio until the announced merger with Crescent Capital BDC is consummated.  While expenses remained elevated largely due to the announced merger, NAV per share was relatively flat from the second quarter due to the voluntary waiver by our manager, Alcentra NY, LLC, of the entire management fee owed to it.

As previously announced, on August 12, 2019, the Company entered into the Agreement and Plan of Merger (as amended on September 27, 2019, the Merger Agreement), with Crescent Capital BDC (Crescent Capital BDC) and the other parties thereto, pursuant to which Crescent Capital BDC (following its reincorporation by merger into the State of Maryland; such Maryland entity referred to as Crescent Capital Maryland BDC) will acquire all of the outstanding shares of the Company’s common stock in a stock and cash transaction through a series of mergers (the Mergers). This transaction is the result of the Company’s previously announced review of strategic alternatives led by an independent director committee (the Committee of Independent Directors) of its board of directors, and has been unanimously approved by the Committee of Independent Directors, the independent directors of Crescent Capital BDC and the boards of directors of both companies.

Cheyenne Cox is a news report covering multiple Market and economy News. She is creative and highly professional writer. Cheyenne holds a degree in communication and journalism and has also a Diploma in digital marketing. She belongs to south Africa who has also lived in Europe and is currently based in the US.

Leave a Reply

Your email address will not be published. Required fields are marked *