FS Investment Corporation 8-K Summary
Business Context and Reporting Period
This Form 8-K was filed by FS Investment Corporation (referred to in the request as FS KKR Capital Corp) on November 14, 2013. The filing primarily serves to announce the release of operating results for the quarter ended September 30, 2013, and to schedule a third-quarter stockholder conference call for November 18, 2013.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. These metrics are contained within the press release attached as Exhibit 99.1, which is incorporated by reference but not detailed in the body of this 8-K.
Regarding liquidity and share valuation, the filing notes that as of November 1, 2013, shares were issued under the Distribution Reinvestment Plan (DRP) and used as the tender price for the share repurchase program at $10.20 per share.
Material Changes
No material changes to financial condition or operations are detailed in the text of this filing. The document acts as a notification of the availability of the Q3 2013 results rather than a disclosure of specific variances from the prior period.
Guidance, Outlook, and Other Events
- Conference Call: Management will discuss Q3 2013 results on November 18, 2013, at 12:00 p.m. Eastern Time.
- Share Valuation: The Board of Directors determined that the $10.20 per share price used for the DRP and repurchase program represents a reasonable estimate of the common stock's value as of November 1, 2013, for compliance with NASD Rule 2340.
- Disclaimer: The filing explicitly states that the $10.20 figure is an estimation and the actual value of the stock may be higher or lower.
Investor Verification Checklist
- Review the attached Press Release (Exhibit 99.1) for specific Q3 2013 revenue, net income, and portfolio yield figures.
- Verify the actual trading price of the stock relative to the $10.20 DRP/repurchase price to assess potential arbitrage or discount/premium opportunities.
- Listen to the November 18, 2013 conference call for management commentary on portfolio performance and future outlook.
- Confirm the company's current debt levels and liquidity position, as these are not disclosed in the 8-K text itself.