0001387131-19-002754.txt : 20190418 0001387131-19-002754.hdr.sgml : 20190418 20190418152041 ACCESSION NUMBER: 0001387131-19-002754 CONFORMED SUBMISSION TYPE: 424B3 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20190418 DATE AS OF CHANGE: 20190418 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: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-222986 FILM NUMBER: 19755720 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 424B3 1 cnl-424b3_041819.htm PROSPECTUS

 

 

Filed Pursuant to Rule 424(b)(3)

Registration No. 333-222986

 

 

CNL STRATEGIC CAPITAL, LLC

 

SUPPLEMENT NO. 1 DATED APRIL 18, 2019

TO THE PROSPECTUS DATED APRIL 16, 2019

 

We are providing this Supplement to you in order to supplement our prospectus dated April 16, 2019 (as supplemented to date, the “Prospectus”). This supplement provides information that shall be deemed part of, and must be read in conjunction with, the Prospectus. Capitalized terms used in this supplement have the same meanings in the Prospectus unless otherwise stated herein. The terms “we,” “our,” “us” and “Company” refer to CNL Strategic Capital, LLC.

 

Before investing in our shares you should read the entire Prospectus and this supplement, and consider carefully our investment objectives, risks, fees and expenses. You should also carefully consider the information disclosed in the section of the Prospectus captioned “Risk Factors” before you decide to invest in our shares.

The purpose of this supplement is as follows:

•to disclose the Company's net asset value for the month ended March 31, 2019;
•to disclose the adjusted per share public offering price for each class of our shares, effective as of April 26, 2019, the date which is five business days after this supplement is filed with the Securities and Exchange Commission;
•to disclose information about our distributions; and
•to disclose the commencement of our private offering of Class FA shares.

 

Determination of Net Asset Value for the month ended March 31, 2019

 

On April 18, 2019, the Company’s board of directors (the “Board”) 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 "Determination of Net Asset Value" in the Prospectus. 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 March 31, 2019:

 

 

Month Ended March 31, 2019

  Class FA  Class A 

 

Class T

 

 

Class D

  Class I  Total
 Net Asset Value   $87,259,528   $9,799,809   $1,477,301   $3,607,349   $11,535,495   $113,679,482 
 Number of Outstanding Shares     3,266,260    371,319    55,739    137,864    434,646    4,265,828 
 Net Asset Value, Per Share   $26.72   $26.39   $26.50   $26.17   $26.54      

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 April 18, 2019, 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 April 26, 2019 and will be used for the Company’s next monthly closing for subscriptions on April 30, 2019. As of the date of this supplement, all references throughout the Prospectus to the per share public offering price for each share class available in the Offering are hereby updated to reflect the new per share public offering prices stated in the table below. 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 March 31, 2019. 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   $28.84   $27.82   $26.17   $26.54 
 Selling Commissions, Per Share   $1.73   $0.83           
 Dealer Manager Fees, Per Share   $0.72   $0.49           

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 April 18, 2019, the Board declared cash distributions on the outstanding shares of all classes of our common shares based on a monthly record date, 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
May 30, 2019  June 10, 2019  $ 0.104167  $0.104167   $0.083333   $0.093750   $0.104167 

 

Commencement of Class FA Private Offering

On April 18, 2019, the Company commenced a private offering of up to $50 million in shares of its Class FA shares consistent with the terms previously disclosed in the Prospectus (the “Class FA Private Offering”) and entered into a placement agent agreement with CNL Securities Corp., the Managing Dealer for the Offering, to serve as placement agent for the Class FA Private Offering.