NEW YORK, Jan. 20, 2016 /PRNewswire/ -- Alcentra Capital Corporation (NASDAQ Global Select Market: "ABDC") ("Alcentra") announced today that its Board of Directors has approved an open market stock repurchase program. Pursuant to the program, Alcentra is authorized to repurchase up to $5 million in the aggregate of its outstanding common stock in the open market. The timing, manner, price and amount of any share repurchases will be determined by Alcentra's management, in its discretion, based upon the evaluation of economic and market conditions, stock price, applicable legal and regulatory requirements and other factors.
The open market stock repurchase program will be in effect until the approved dollar amount has been used to repurchase shares. The program does not require Alcentra to repurchase any specific number of shares and Alcentra cannot assure that any shares will be repurchased under the program. The program may be suspended, extended, modified or discontinued at any time.
About Alcentra Capital Corporation
Alcentra (www.alcentracapital.com) is an externally-managed, closed-end, non-diversified management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940. Alcentra'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. Alcentra's investment activities are managed by its investment adviser, Alcentra NY, LLC.
About Alcentra NY, LLC
Alcentra NY, LLC is part of BNY Alcentra Group Holdings, Inc. ("Alcentra Group"), one of the world's leading sub-investment grade credit asset managers focusing on the U.S. and European markets. Alcentra Group has an investment track record that spans across more than 75 separate investment vehicles and accounts totaling approximately $27.7 billion (including accounts managed by Alcentra NY, LLC, Alcentra Ltd, and assets managed by Alcentra Group personnel for affiliates under dual officer arrangements.)
Statements included herein may contain "forward-looking statements," which relate to future performance or financial condition. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of assumptions, risks and uncertainties, which change over time. Actual results may differ materially from those anticipated in any forward-looking statements as a result of a number of factors, including those described from time to time in filings by Alcentra with the Securities and Exchange Commission. Alcentra undertakes no duty to update any forward-looking statement made herein except as required by law. All forward-looking statements speak only as of the date of this press release.
SOURCE Alcentra Capital Corporation