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): December 19, 2014
THL Credit, Inc.
(Exact name of registrant as specified in its charter)
Delaware | 814-00789 | 27-0344947 | ||
(State or other jurisdiction of incorporation or organization) |
(Commission File Number) |
(IRS Employer Identification Number) |
100 Federal Street, 31st Floor, Boston, MA 02110
(Address of principal executive offices)
Registrants telephone number, including area code (800) 450-4424
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)) |
Item 5.02(d). | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers |
On December 19, 2014, upon the recommendation of the Governance Committee, the Board of Directors (the Board) of THL Credit, Inc. (the Company) approved the appointment of James Kern as a director of the Company, with immediate effect.
In connection with the appointment, the Board approved expanding the size of the Board from six to seven directors. Each of the Companys directors hold office until the next annual meeting of stockholders (the Annual Meeting) or until his or her successor is duly elected and qualified or such directors earlier resignation, death or removal. As a result, Mr. Kerns current term will expire at the 2015 Annual Meeting unless he is re-elected.
Mr. Kerns compensation will be consistent with that provided to all of the Companys non-employee directors, as described in the Companys proxy statement filed with the U.S. Securities and Exchange Commission.
There is no arrangement or understanding under which Mr. Kern was appointed. There are no transactions involving Mr. Kern requiring disclosure under Item 404(a) of Regulation S-K.
Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
Exhibit Number |
Description | |
99.1 | Press Release, dated December 22, 2014 |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.
THL CREDIT, INC. | ||||||
Date: December 22, 2014 | By: | /s/ Terrence W. Olson | ||||
Name: | Terrence W. Olson | |||||
Title: | Chief Financial Officer, Chief Operating Officer & Treasurer |
EXHIBIT INDEX
Exhibit Number |
Description | |
99.1 | Press Release, dated December 22, 2014 |
Exhibit 99.1
FOR IMMEDIATE RELEASE
THL Credit Announces Appointment of James Kern to its Board of Directors
BOSTON December 22, 2014 THL Credit, Inc. (NASDAQ: TCRD) (THL Credit), today announced the appointment of James Kern to its Board of Directors.
Mr. Kern joins THL Credits board of directors with decades of experience in the asset management industry with a focus in specialty finance. Mr. Kern currently serves as Managing Partner of Majestic Ventures 1 LLC, a consulting and investment partnership focused on early stage growth companies. From 2010 to mid-2014, Mr. Kern was a Managing Director at Nomura Securities, serving as Head of Global Finance FIG and Specialty Finance Investment Banking for the Americas. He previously served as a Managing Director at J.P. Morgan Securities within the FIG practice focused on Asset Management and Specialty Finance clients. From 1994-2008, Mr. Kern was a Senior Managing Director at Bear Stearns where he held several positions including Head of Strategic Finance-FIG, Head of Corporate Derivatives and was a founding member of the firms Structured Equity Products group. Mr. Kern has a B.S. from the Marshall School of Business at the University of Southern California.
We are pleased to add Jim to our Board of Directors, said Sam W. Tillinghast, THL Credits co-chief executive officer. His specialty finance expertise and years of experience in the financial services industry will bring new perspectives and insights to both our Board of Directors and THL Credit as we continue to grow in the years ahead.
ABOUT THL CREDIT
THL Credit, Inc. (THL Credit) is an externally-managed, non-diversified closed-end management investment company that has elected to be treated as a business development company (BDC) under the Investment Company Act of 1940. THL Credits investment objective is to generate both current income and capital appreciation, primarily through investments in privately negotiated debt and equity securities of middle market companies.
THL Credit is headquartered in Boston, with additional investment teams in Chicago, Houston, Los Angeles and New York. THL Credit is a direct lender that invests in first lien and second lien secured loans, including through unitranche investments, as well as subordinated debt, which may include an associated equity component such as warrants, preferred stock or other similar securities. In certain
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instances, THL Credit will also make direct equity investments and may also selectively invest in the residual interests, or equity, of collateralized loan obligations. THL Credit targets investments in middle market companies with annual revenues of between $25 million and $500 million that require capital for growth and acquisitions. THL Credits investment activities are managed by THL Credit Advisors LLC, an investment adviser registered under the Investment Advisers Act of 1940.
FORWARD-LOOKING STATEMENTS
Statements made in this press release may constitute forward-looking statements. Such statements reflect various assumptions by THL Credit concerning anticipated results and are not guarantees of future performance. The accuracy of such statements involves known and unknown risks, uncertainties and other factors that, in some ways, are beyond managements control, including the factors described from time to time in filings by THL Credit with the Securities and Exchange Commission. THL Credit undertakes no duty to update any forward-looking statements made herein. All forward-looking statements speak only as of the date of this press release.
Investor Contact:
THL Credit, Inc.
Terrence W. Olson, COO & CFO
800-450-4424
Media Contact:
Sard Verbinnen & Co
Matt Benson
212-687-8080
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