GREENWICH, Conn., March 14, 2018 /PRNewswire/ -- Fifth Street Asset Management Inc. (OTCQX:FSAM) ("FSAM") today announced its decision to voluntarily move its Class A common stock from the OTCQX US Market, operated by OTC Markets, Inc., and take the steps necessary to list the FSAM Class A common stock for trading on the Pink Market, operated by OTC Markets, Inc. FSAM currently expects that its Class A common stock will be quoted for trading on the Pink Market under the trading symbol "FSAM" on or about March 26, 2018.
The decision of FSAM's Board of Directors to voluntarily move trading of its Class A common stock to the Pink Market was based on numerous factors, including the cost savings to be obtained by reductions in accounting, audit, legal and other costs.
About Fifth Street Asset Management Inc.
Prior to the closing of the asset sale to Oaktree Capital Management, L.P. on October 17, 2017, Fifth Street Asset Management Inc. was a nationally recognized credit-focused asset manager. The firm managed two publicly traded business development companies, Fifth Street Finance Corp. and Fifth Street Senior Floating Rate Corp. The Fifth Street platform provided innovative and customized financing solutions to small and mid-sized businesses across the capital structure through complementary investment vehicles and co-investment capabilities. With a nearly 20-year track record focused on disciplined credit investing across multiple economic cycles, Fifth Street was led by a seasoned management team that issued billions of dollars in public equity, private capital and public debt securities. Fifth Street's national origination strategy, proven track record and established platform allowed the firm to surpass $10 billion of loan commitments since inception. For more information, please visit fsam.fifthstreetfinance.com.
Some of the statements in this press release may include forward-looking statements that reflect current views with respect to future events and financial performance, and FSAM may make related oral, forward-looking statements on or following the date hereof. Statements that include the words "should," "would," "expect," "intend," "plan," "believe," "project," "anticipate," "seek," "will," and similar statements of a future or forward-looking nature identify forward-looking statements in this press release or similar oral statements. Such statements are "forward looking" statements. Because forward-looking statements include risks and uncertainties, actual results may differ materially from those expressed or implied and include (a) that FSAM has no revenue generating operations, (b) the amount and timing of any release of escrowed transaction proceeds to FSAM and its subsidiaries, which will depend on the outcome of contingencies set forth in the asset purchase agreement with Oaktree, (c) the costs and expenses that FSAM and its subsidiaries have, and may incur, in connection with its liquidation, (d) that future dividends and distributions of proceeds of FSAM's liquidation to FSAM Class A common stockholders must be declared by FSAM's Board of Directors subject to applicable law and (e) that any amounts distributed to FSAM Class A common stockholders may not be reflective of the price at which any investor has purchased, or may purchase, shares of FSAM Class A common stock. FSAM undertakes no obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE Fifth Street Asset Management Inc.