Form 8-K Business Development For: Oct 04

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 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): October 4, 2021

 

BUSINESS DEVELOPMENT CORPORATION OF AMERICA

(Exact name of registrant as specified in its charter)

 

Maryland	814-00821	27-2614444
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

 

9 West 57th Street, Suite 4920 New York, New York	10019
(Address of principal executive offices)	(Zip Code)

 

Registrant’s telephone number, including area code: (212) 588-6770

 

Not Applicable

(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:

 

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

 

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. ¨

 

Securities registered pursuant to Section 12(b) of the Act: None.

 

 

Item 7.01    Regulation FD Disclosure.

 

On October 4, 2021, Business Development Corporation of America (the “Company”) issued a press release announcing that its Board of Directors declared a special distribution of $0.02 per share, payable on or around October 1, 2021, to stockholders of record at the close of business on September 30, 2021. In addition, the Board of Directors declared a regular distribution of $0.13 per share, payable on or around October 1, 2021, to stockholders of record at the close of business on September 30, 2021. The third quarter dividend represents an increase of $0.03 per share from the prior quarter’s regular dividend. Stockholders were entitled to receive the distribution payment in cash or in shares of the Company’s common stock in accordance with their election under the Company’s dividend reinvestment plan.

 

A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

 

The information in this Item 7.01, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and is not incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, unless it is specifically incorporated by reference therein.

 

Item 9.01    Financial Statements and Exhibits.

 

(d) Exhibits

Exhibit No.		Description
99.1		Press Release dated October 4, 2021 (furnished herewith)

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

	BUSINESS DEVELOPMENT CORPORATION OF AMERICA
Date: October 4, 2021	By:	/s/ Nina K. Baryski
	Name:	Nina K. Baryski
	Title:	Chief Financial Officer and Treasurer

 

 

Exhibit 99.1

 

 

 

BDCA Announces Change to Distribution and a Special Dividend

 

New York, New York, —On September 29, 2021, the Board of Directors (the “Board”) of Business Development Corporation of America (“BDCA” or the “Corporation”) declared a regular quarterly cash dividend of $0.13 per share (the “Third Quarter Dividend”) and a special distribution of $0.02 per share of the Corporation’s common stock, payable on or around October 1, 2021 to stockholders of record as of September 30, 2021. The Third Quarter Dividend represents an increase of $0.03 per share from the prior quarter’s regular dividend.

  

About BDCA

 

BDCA is a non-traded business development company with a $2.5 billion investment portfolio, which primarily consists of loans to middle market companies, as of June 30, 2021. BDCA operates under the Investment Company Act of 1940. BDCA is managed by its investment adviser, BDCA Adviser, LLC, an affiliate of Benefit Street Partners L.L.C. This press release is not an offer to sell any securities issued by BDCA and is not soliciting an offer to buy such securities. For further information, please visit www.bdcofamerica.com.

 

About Benefit Street Partners

                                                                                                                

Benefit Street Partners L.L.C. is a leading credit-focused alternative asset management firm with approximately $34 billion in assets under management. BSP manages assets across a broad range of complementary credit strategies, including private/opportunistic debt, structured credit, high yield, special situations, long-short liquid credit and commercial real estate debt. Based in New York, the BSP platform was established in 2008. BSP is a wholly owned subsidiary of Franklin Resources, Inc. For further information, please visit www.benefitstreetpartners.com.

 

About Franklin Templeton

 

With 70 years of investing experience, Franklin Templeton is a global leader in asset management, serving clients in over 170 countries. Through its specialized teams, Franklin Templeton helps investors achieve better outcomes by offering investment expertise that spans traditional to alternative strategies and multi-asset solutions.

 

Important Notice

 

The statements in this communication that are not historical facts may be forward-looking statements, including the statements about BDCA’s expectations regarding future tender offers under the SRP. These forward-looking statements involve risks and uncertainties, including those related to economic uncertainty in light of the ongoing COVID-19 pandemic, that could cause the outcome to be materially different. All such forward looking statements speak only as of the date they are made, and BDCA undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise.

 

Contacts

 

Business Development Corporation of America

Investor Relations

[email protected]

844-785-4393

 

 

 

 

 

 

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