FS Investment Corporation 8-K Summary
Business Context and Reporting Period
This Form 8-K was filed by FS Investment Corporation (FSIC) on January 2, 2013. The report details a corporate action effective as of the filing date regarding the company's Distribution Reinvestment Plan (DRP).
Key Financial Metrics
The filing does not provide comprehensive financial statements, revenue, profit, cash flow, or debt metrics. The only specific financial data point disclosed is the adjustment to the DRP share issuance price.
- Previous DRP Price: $9.90 per share
- New DRP Price: $10.00 per share
Material Changes
Effective January 2, 2013, FSIC increased the price at which shares are issued under its DRP from $9.90 to $10.00 per share. This change was made by the Board of Directors in its sole discretion. The filing notes that the DRP price must be at least the Net Asset Value (NAV) per share and no more than 2.5% greater than the NAV per share immediately prior to the distribution payment.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future performance, or discussion of specific risks and contingencies beyond the standard disclosure of the Board's discretion in setting the DRP price.
Key Facts for Investor Verification
- Verify the current Net Asset Value (NAV) per share to confirm the new $10.00 DRP price complies with the 2.5% premium cap.
- Confirm the impact of the price increase on the number of shares issued to participants in the DRP for the upcoming distribution cycle.
- Review subsequent filings for any further adjustments to the DRP pricing mechanism.