Alcentra Capital Corporation Announces Expansion of Open-Market Stock Repurchase Program and Entry into Rule 10b5-1 Repurchase Plan
Nov 16, 2017, 14:44 ET
NEW YORK, Nov. 16, 2017 /PRNewswire/ -- Alcentra Capital Corporation (NASDAQ Global Select Market: "ABDC") ("Alcentra") announced today that its Board of Directors has expanded its open-market stock repurchase program by $2.5 million to $5.0 million (the "Program"). Pursuant to the Program, which was initially announced on November 6, 2017, Alcentra is authorized to repurchase up to $5.0 million in aggregate amount of its outstanding common stock in the open market through November 2, 2018.
Alcentra has also entered into a pre-arranged repurchase plan established pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934 to facilitate the repurchases of shares of its common stock under the Program. The Rule 10b5-1 repurchase plan will be in effect through January 31, 2018.
For information on recent purchases and sales of Alcentra's common stock by its executive officers and directors, please see https://investors.alcentracapital.com/sec-filings.
About Alcentra Capital Corporation
Alcentra Capital Corporation makes debt and minority equity co-investments to U.S. middle and lower middle market companies. Its investment objective is to provide attractive risk-adjusted returns by generating both current income from debt investments and capital appreciation from equity related investments. As a business development company that has elected to be treated as a regulated investment company for tax purposes, Alcentra is required to distribute at least 90 percent of its taxable income to shareholders, making it a yield play for investors.
About Alcentra NY, LLC
Alcentra NY, LLC ("Alcentra NY") is the US-based investment advisory business of BNY Alcentra Group Holdings, Inc. ("Alcentra Group"). Alcentra NY is a limited liability company established in the State of Delaware and is located at 200 Park Avenue, New York, NY, 10166. Alcentra NY is regulated by the SEC and is a subsidiary of Alcentra Group. Alcentra NY and its affiliates had assets under management of $34.7 billion as of September 30, 20171.
1 Assets under management reflect assets of all accounts and portions of accounts managed by Alcentra Group for Alcentra Group and its affiliates. Specifically, certain assets under management reflect assets managed by Alcentra Group personnel as employees of Standish Mellon Asset Management LLC, The Bank of New York Mellon and The Dreyfus Corporation under a dual employee arrangement.
Forward-Looking Statements
Statements included herein may contain "forward-looking statements," which relate to future performance or financial condition. Statements other than statements of historical fact 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