Blackhawk Capital Group BDC Inc. Announces Acceptance Of Offer Of Settlement By The SEC
NEW YORK, Oct. 1, 2013 /PRNewswire/ -- Blackhawk Capital Group BDC, Inc. ("Blackhawk" or the "Company") today announced that the Securities and Exchange Commission (the "SEC") has accepted the Company's Offer of Settlement submitted by the Company for the purposes of settling proceedings initiated by the SEC to revoke the registration of Blackhawk's securities pursuant to Section 12(j) of the Securities Exchange Act of 1934 (the "Exchange Act") due to Blackhawk's failure to file required Exchange Act periodic reports. As a result of the SEC's acceptance of the Offer of Settlement, on October 1, 2013 the SEC issued an order revoking the registration of the Company's common stock. The Company's common stock, which had traded in the over-the-counter market under the symbol "BHCG" will no longer be publicly traded.
The Company became delinquent in filing its Exchange Act periodic reports largely as a result of unforeseeable circumstances resulting from the aftermath of the 2007/2008 global financial crisis. The Company currently plans to file a Form 10 registration statement with the SEC for the purpose of re-registering its common stock under the Exchange Act. To that end, Blackhawk is in the process of engaging an independent accounting firm to complete an audit of the Company's financial statements and to assist it in preparing the financial statements and related disclosures required by Form 10. In the meantime, Blackhawk intends to operate as a private company and will continue to explore various strategic alternatives.
SOURCE Blackhawk Capital Group BDC, Inc.