0001387131-18-005521.txt : 20181018 0001387131-18-005521.hdr.sgml : 20181018 20181018151037 ACCESSION NUMBER: 0001387131-18-005521 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20181018 ITEM INFORMATION: Other Events FILED AS OF DATE: 20181018 DATE AS OF CHANGE: 20181018 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CNL Strategic Capital, LLC CENTRAL INDEX KEY: 0001684682 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS MANUFACTURING INDUSTRIES [3990] IRS NUMBER: 320503849 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-222986 FILM NUMBER: 181128279 BUSINESS ADDRESS: STREET 1: P.O. BOX 4920 CITY: ORLANDO STATE: FL ZIP: 32802 BUSINESS PHONE: 407-650-1000 MAIL ADDRESS: STREET 1: P.O. BOX 4920 CITY: ORLANDO STATE: FL ZIP: 32802 8-K 1 cnl-8k_101818.htm CURRENT REPORT

 

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 18, 2018

 


CNL STRATEGIC CAPITAL, LLC

(Exact name of registrant as specified in its charter)

 


 

DELAWARE   333-222986   32-0503849

(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: (407) 650-1000


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 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

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.

 

 
 

Item 8.01 Other Events.

Determination of Net Asset Value for the month ended September 30, 2018

 

On October 18, 2018, the board of directors (the “Board”) of CNL Strategic Capital, LLC (the “Company”) determined the Company’s net asset value per share for each share class in a manner consistent with the Company’s valuation policy, as described under the “Determination of Net Asset Value” in the Prospectus, as amended and supplemented. Class FA shares were offered in a separate private offering and are not being offered in the Company’s current public offering (the “Offering”). The following table provides the Company’s aggregate net asset value and net asset value per share for its Class FA, Class A, Class T, Class D, and Class I shares as of September 30, 2018:

Month Ended September 30, 2018  Class FA  Class A 

 

Class T

 

 

Class D

  Class I  Total
Net Asset Value   $86,246,002   $337,819   $528,019   $2,131,602   $3,693,717   $92,937,159 
Number of Outstanding Shares    3,266,260    12,856    20,033    81,346    140,242    3,520,738 
Net Asset Value, Per Share   $26.41   $26.28   $26.36   $26.20   $26.34      

We have also posted this information on our website at www.cnlstrategiccapital.com. A subscriber may also obtain this information by calling us by telephone at (866) 650-0650.

Public Offering Price Adjustment

On October 18, 2018, the Board also approved the new per share public offering price for each share class in the Offering. The new public offering prices will be effective as of October 25, 2018 and will be used for the Company’s next monthly closing for subscriptions on October 31, 2018. The purchase price for Class A, Class T, Class D, and Class I shares purchased under our distribution reinvestment plan will be equal to the net asset value per share as of September 30, 2018. The following table provides the new public offering prices and applicable upfront selling commissions and dealer manager fees for each share class available in the Offering:

   Class A  Class T  Class D  Class I
Public Offering Price, Per Share   $28.72   $27.67   $26.20   $26.34 
Selling Commissions, Per Share   $1.72   $0.83           
Dealer Manager Fees, Per Share   $0.72   $0.48           

We have also posted this information on our website at www.cnlstrategiccapital.com. A subscriber may also obtain this information by calling us by telephone at (866) 650-0650.

Declaration of Distributions

On October 18, 2018, the Board declared cash distributions on the outstanding shares of all classes of our common shares based on weekly record dates for the time period beginning on November 6, 2018 through and including November 30, 2018, as set forth below:

 

Distribution Record Date 

Distribution Payment Date

   Declared Distribution Per Share for Each Share Class 
       Class FA    Class A    Class T    Class D    Class I 
November 6, 2018  December 10, 2018  $0.024038   $0.024038   $0.019231   $0.021635   $0.024038 
November 13, 2018  December 10, 2018  $0.024038   $0.024038   $0.019231   $0.021635   $0.024038 
November 20, 2018  December 10, 2018  $0.024038   $0.024038   $0.019231   $0.021635   $0.024038 
November 30, 2018  December 10, 2018  $0.024038   $0.024038   $0.019231   $0.021635   $0.024038 

 

 

 
 

Cautionary Note Regarding Forward-Looking Statements

Statements in this Current Report on Form 8-K, including intentions, beliefs, expectations or projections relating to the items described herein, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on the beliefs and assumptions of the Company’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. Forward-looking statements are subject to substantial risks and uncertainties, many of which are difficult to predict and are generally beyond the Company’s control. Any forward-looking statement made by us in this Current Report is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise. Important risks, uncertainties and factors that could cause actual results to differ materially from those in the forward-looking statements include the risks associated with the Company’s ability to pay distributions and the sources of such distribution payments, the Company’s ability to locate and make suitable investments, and other risks described in the “Risk Factors” section of the Company’s Registration Statement on Form S-1 and the other documents filed by the Company with the Securities and Exchange Commission.

 

 
 

 

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: October 18, 2018    

CNL Strategic Capital, LLC

a Delaware limited liability company

       
    By: /s/ Chirag J. Bhavsar
     

Chirag J. Bhavsar

Chief Executive Officer