0001193125-16-447847.txt : 20160202 0001193125-16-447847.hdr.sgml : 20160202 20160202172234 ACCESSION NUMBER: 0001193125-16-447847 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20160128 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20160202 DATE AS OF CHANGE: 20160202 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Corporate Capital Trust, Inc. CENTRAL INDEX KEY: 0001494538 IRS NUMBER: 272857503 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 814-00827 FILM NUMBER: 161381998 BUSINESS ADDRESS: STREET 1: 450 S. ORANGE AVENUE CITY: ORLANDO STATE: FL ZIP: 32801 BUSINESS PHONE: (407) 540-2599 MAIL ADDRESS: STREET 1: 450 S. ORANGE AVENUE CITY: ORLANDO STATE: FL ZIP: 32801 8-K 1 d128688d8k.htm FORM 8-K Form 8-K

 

 

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): January 28, 2016

 

 

CORPORATE CAPITAL TRUST, INC.

(Exact name of registrant as specified in its charter)

 

 

 

Maryland   814-00827   27-2857503

(State or Other Jurisdiction of

Incorporation or Organization)

 

(Commission

File Number)

 

(IRS Employer

Identification Number)

CNL Center at City Commons

450 South Orange Avenue

Orlando, Florida 32801

(Address of Principal Executive Offices; Zip Code)

Registrant’s telephone number, including area code: (866) 745-3797

 

 

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 8.01 Other Events.

Decrease in Public Offering Price

On February 2, 2016, the board of directors of Corporate Capital Trust, Inc. (the “Company”) decreased the offering price of the Company’s public offering of common stock from $10.00 per share to $9.80 per share. The new price will take effect for the weekly closings for subscriptions for our common stock commencing on February 3, 2016. The purpose of this action is to ensure that the Company’s net asset value per share is not less than 97.5% of the net offering price. As a result of the decrease in the Company’s public offering price, the maximum sales load and the net proceeds per share will correspondingly decrease from $1.000 to $0.980 and from $9.000 to $8.820, respectively.

Declaration of Distribution

On January 28, 2016, the Company’s board of directors declared distribution rates per share of $0.015483, based on weekly record dates for the time period beginning on February 2, 2016 through and including February 23, 2016. With the new offering price, the annualized distribution yield will increase from 8.05% to 8.21%. It is anticipated that these distributions, in the aggregate, will be supported by the Company’s estimated annual taxable income; and the sources of distributions will be disclosed in the Company’s regular financial reports. Distributions will be paid monthly in accordance with the below schedule:

 

Distribution Record Date

   Distribution
Payment Date
     Declared Distribution
Per Share
 

February 2, 2016

     February 24, 2016       $ 0.015483   

February 9, 2016

     February 24, 2016       $ 0.015483   

February 16, 2016

     February 24, 2016       $ 0.015483   

February 23, 2016

     February 24, 2016       $ 0.015483   

A copy of the press release announcing the foregoing is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01 Financial Statement and Exhibits.

(d) Exhibits

 

Exhibit
No.

   Description
99.1     Press Release dated February 2, 2016

Cautionary Note Regarding Forward-Looking Statements

Statements contained in this Current Report on Form 8-K that are not statements of historical or current fact may constitute forward-looking statements within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management’s current understandings, intentions, beliefs, plans, expectations, assumptions and/or predictions regarding the future of the Company’s business and its performance, the economy, and other future conditions and forecasts of future events, and circumstances. Forward-looking statements are typically identified by words such as “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plans,” “continues,” “pro forma,” “may,” “will,” “seeks,” “should” and “could,” and words and terms of similar substance in connection with discussions of future operating or financial performance, business strategy and portfolios, projected growth prospects, cash flows, costs and financing needs, legal proceedings, amount and timing of anticipated future distributions, estimated per share net asset value of the Company’s common stock, and other matters. The Company’s forward-looking statements are not guarantees of future performance and the Company’s actual results could differ materially from those set forth in the forward-looking statements. As with any projection or forecast, forward-looking statements are necessarily dependent on assumptions, data and/or methods that may be incorrect or imprecise, and may not be realized. While the Company believes that the current expectations reflected in its forward-looking statements are based upon reasonable assumptions, such statements are inherently susceptible to a variety of risks, uncertainties, changes in circumstances and other factors, many of which are beyond the Company’s ability to control or accurately predict. Given these uncertainties, the Company cautions investors and potential investors not to place undue reliance on such statements.

Forward-looking statements speak only as of the date on which they are made; and the Company undertakes no obligation, and expressly disclaims any obligation, to publicly release the results of any revisions to its forward-looking statements made to reflect future events or circumstances, new information, changed assumptions, the occurrence of unanticipated subsequent events, or changes to future operating results over time, except as otherwise required by law.

The Company’s forward-looking statements and projections are excluded from the safe harbor protection of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.

 

1


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.

 

Date: February 2, 2016    

CORPORATE CAPITAL TRUST, INC.

a Maryland Corporation

  By:  

/s/ Steven D. Shackelford

    Steven D. Shackelford
    President and Chief Financial Officer


EXHIBIT INDEX

 

Exhibit
No.

  

Description

99.1    Press Release, dated February 2, 2016
EX-99.1 2 d128688dex991.htm PRESS RELEASE Press Release

Exhibit 99.1

 

LOGO

News Release

 

For information contact:

Sherry Magee

Senior Vice President Communications

CNL Financial Group

407-650-1223

CORPORATE CAPITAL TRUST ANNOUNCES CHANGE IN OFFERING PRICE AND

DECLARES DISTRIBUTIONS

— February 2016 distributions declared —

(ORLANDO, Fla.) Feb. 2, 2016 — The board of directors of Corporate Capital Trust has announced that, due to a decrease in the company’s net asset value per share, it has decreased the public offering price per share from $10.00 to $9.80 in accordance with its share pricing policy. The new price is effective for share subscriptions accepted after Tuesday, Jan. 26, 2016.

The board also declared weekly distributions through February 2016. The distributions have remained constant at a weekly rate of $0.015483 per share. With the new offering price, the recalculated annualized distribution rate will change from 8.05 percent to 8.21 percent.

About Corporate Capital Trust

Corporate Capital Trust is a non-traded business development company that offers individuals a unique opportunity to invest in privately owned American companies. The company is externally managed by CNL and KKR and its investment objective is to provide shareholders with current income and, to a lesser extent, long-term capital appreciation. The company intends to meet its investment objective by investing primarily in the debt of privately owned companies, with a focus on originated transactions sourced through the networks of its advisors. For additional information, please visit CorporateCapitalTrust.com.

About CNL Financial Group

CNL Financial Group is a leading private investment management firm providing global real estate and alternative investments. Since inception in 1973, CNL Financial Group and/or its affiliates have formed or acquired companies with more than $33 billion in assets. CNL Financial Group is headquartered in Orlando, Florida. For more information, visit CNL.com.

About KKR

KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation at the asset

 

— page 1 of 2 —


Page 2/Corporate Capital Trust announces change in offering price and declared distributions

 

level. KKR invests its own capital alongside its partners’ capital and brings opportunities to others through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE: KKR), please visit KKR’s website at KKR.com and on Twitter @KKR_Co.

A registration statement relating to the common stock of Corporate Capital Trust, Inc. is filed with the Securities and Exchange Commission. The offering of Corporate Capital Trust’s common stock is being made solely by means of a written prospectus, which is available at http://www.sec.gov or may be obtained by calling (866) 650-0650, that contains additional information about Corporate Capital Trust and should be read carefully by an investor before investing. Investors are advised to consider the investment objective, risks, charges and expenses of Corporate Capital Trust carefully before investing. This press release is not an offer to sell and is not soliciting an offer to buy these securities in any state where such offer or sale is not permitted. Neither the SEC, the Attorney General of the State of New York nor any other regulatory agency has passed on or endorsed the merits of this offering. Any representation to the contrary is a criminal offense.

The information in this press release may include “forward-looking statements.” These statements are based on the beliefs and assumptions of Corporate Capital Trust’s management and on the information currently available to management at the time of such statements. Forward-looking statements generally can be identified by the words “believes,” “expects,” “intends,” “plans,” “estimates” or similar expressions that indicate future events. Important factors that could cause actual results to differ materially from Corporate Capital Trust’s expectations include those disclosed in the current prospectus for the public offering of Corporate Capital Trust’s common stock.

Corporate Capital Trust is advised by CNL Fund Advisors Company (CNL) and KKR Credit Advisors (US) LLC (KKR), affiliates of CNL Financial Group and KKR & Co. L.P., respectively.

###

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