BDCA Receives "Green Light" Letter from the U.S. Small Business Administration to Form New SBIC
NEW YORK, March 26, 2014 /PRNewswire/ -- Business Development Corporation of America ("BDCA"), a business development company primarily focused on senior debt investments in middle market private companies, announced today that the U.S. Small Business Administration ("SBA") has issued a "green light" letter inviting BDCA to continue its application process to obtain a license to form and operate a Small Business Investment Company ("SBIC") subsidiary.
If approved, an SBIC license would provide BDCA with an incremental source of attractive long-term capital through the use of SBA debentures. However, receipt of a green light letter from the SBA does not assure an applicant that the SBA will ultimately issue an SBIC license and BDCA has received no assurance or indication from the SBA that it will receive an SBIC license, or of the timeframe in which it would receive a license, should one ultimately be granted.
A registration statement relating to the common stock of BDCA was filed with and has been declared effective by the U.S. Securities and Exchange Commission (the "SEC"). These securities have not been approved or disapproved by the SEC or any state securities commission, nor have they passed upon the accuracy or adequacy of the prospectus. The offering of BDCA's common stock is being made solely by means of a written prospectus forming part of the effective registration statement. The prospectus, which is available at www.bdcofamerica.com and www.sec.gov and may be obtained by calling 1-888-518-8073, contains additional information about BDCA. The prospectus should be read carefully by an investor before investing. Investors are advised to consider the investment objectives, risks, charges and expenses of BDCA carefully before investing. This press release is not an offer to sell these securities and is not soliciting an offer to buy these securities in any state where the offer and sale is not permitted.
The statements in this press release that are not historical facts may be forward-looking statements, including statements with regard to the future performance of BDCA. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different.
Prospective investors should consider the investment objectives, risks, and charges and expenses of BDCA carefully before investing. BDCA's prospectus contains information about these important issues as well as other information about BDCA. A prospectus for BDCA may be obtained by calling 877-373-2522 or writing us in care of: Realty Capital Securities, LLC, Three Copley Place, Suite 3300, Boston, MA 02116. You may also download a copy of BDCA's prospectus by going to www.bdcofamerica.com. Please read the prospectus carefully before investing.
SOURCE Business Development Corporation of America