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, 2016
Parkview Capital Credit, Inc. |
(Exact Name of Registrant as Specified in Its Charter) |
Maryland | 000-55411 | 47-2441958 | ||
(State or other jurisdiction of incorporation or organization) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
Two Post Oak Center
1980 Post Oak Boulevard, 15th Floor
Houston, Texas 77056
(Address of principal executive offices)
(713) 622-5000
(Registrant’s telephone number, including area code)
N/A
(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 8.01 | Other Events. |
Distribution
On December 19, 2016, the board of directors of Parkview Capital Credit, Inc. (the “Company”) authorized the declaration of a cash distribution of $1,077,060 for the fiscal year ending December 31, 2016 (the “Distribution”), an amount equal to $0.28 per share of common stock, $0.01 par value per share, to be paid to the Company’s stockholders of record as of the close of business on December 20, 2016, which was paid on December 21, 2016.
On December 22, 2016, the Company issued a press release announcing the Distribution. A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
Exhibit No. | Description | |
99.1 |
Press Release, dated December 22, 2016 |
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SIGNATURE
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.
PARKVIEW CAPITAL CREDIT, INC. | ||
Dated: December 22, 2016 | By: | /s/ Keith W. Smith |
Name: | Keith W. Smith | |
Title: | President and Chief Executive Officer |
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Exhibit 99.1
December 22, 2016
Parkview Capital Credit Announces 2016 Dividend
Parkview Capital Credit, Inc. (“Parkview Capital” or the “Company”) is pleased to announce that its Board of Directors has approved its initial cash distribution of $1,077,060 or $0.28 per share to the stockholders of the Company of record as of December 21, 2016. The distribution was made on December 22, 2016 and is equivalent to 98 percent of Parkview Capital’s estimated taxable income for the fiscal year ending December 31, 2016. To date, Parkview Capital has funded $46.0 million in seventeen (17) credit investments across a diversified portfolio.
ABOUT PARKVIEW CAPITAL CREDIT
Parkview Capital Credit, Inc. is a closed-end, management investment company that has elected to be regulated as a business development company, or BDC, under the Investment Company Act of 1940. Parkview Capital is located in Houston, Texas and provides customized, long-term debt and equity financing solutions to lower middle-market companies. Parkview Capital typically targets companies with annual revenues between $20-$200 million and EBITDA of $25 million and less, but may opportunistically make investments in larger or smaller companies. Parkview Capital’s investment objective is to generate both current income and capital appreciation primarily by making direct investments in lower middle-market companies in the form of subordinated debt and, to a lesser extent, senior debt and minority equity investments. Parkview Capital seeks to achieve its investment objective by partnering with private equity groups, management teams, entrepreneurs, etc. to provide capital for growth, refinancings, recapitalizations, and acquisitions.
FORWARD-LOOKING STATEMENTS
This press release may contain certain forward-looking statements, including statements with regard to the future performance and operations of the Company. Words such as “believes,” “expects,” “projects” and “future” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results to differ materially from those projected in these forward-looking statements, and some of these factors are enumerated in the filings the Company makes with the U.S. Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CERTAIN INFORMATION ABOUT DISTRIBUTIONS
The determination of the tax attributes of Parkview Capital’s distributions is made annually as of the end of its fiscal year based upon its taxable income and distributions paid, in each case, for the full year. The actual tax characteristics of distributions to stockholders will be reported to stockholders annually on Form 1099-DIV.
The payment of future distributions on Parkview Capital’s shares of common stock is subject to the discretion of its board of directors and applicable legal restrictions, and therefore, there can be no assurance as to the amount or timing of any such future distributions.
CONTACTS:
Keith W. Smith, President, Chief Executive Officer and Chairman, ksmith@parkviewadv.com
Charles Jacobson, Chief Financial Officer, Treasurer, cjacobson@parkviewadv.com
713-622-5000
Source: Parkview Capital Credit