FS Investment Corporation 8-K Summary
Business Context and Reporting Period
This Form 8-K was filed by FS Investment Corporation (also referenced as FS KKR Capital Corp in metadata) on February 9, 2012. The report details corporate actions taken by the Board of Directors regarding the Company's public offering price and cash distributions.
Key Financial Metrics and Actions
- Public Offering Price: Increased from $10.65 to $10.70 per share.
- Effective Date: The price increase applies to subscriptions received between February 1, 2012, and February 15, 2012, effective at the February 16, 2012 semi-monthly closing.
- Cash Distributions: The Board declared two regular semi-monthly cash distributions of $0.033594 per share each.
- Payment Date: Both distributions are scheduled for payment on February 29, 2012.
- Record Dates: The first distribution is for stockholders of record on February 15, 2012; the second is for stockholders of record on February 28, 2012.
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity metrics for the period.
Material Changes and Management Commentary
The primary material change is the adjustment of the public offering price. Management stated the purpose of this action was to ensure the Company's net asset value per share does not exceed the offering price per share after the deduction of selling commissions and dealer manager fees, in compliance with the Investment Company Act of 1940.
Outlook, Risks, and Contingencies
The filing does not contain specific forward-looking guidance, risk factors, or contingencies beyond the regulatory compliance rationale for the price adjustment.
Key Facts for Investor Verification
- Verify the exact record dates (February 15 and February 28, 2012) to determine eligibility for the declared distributions.
- Confirm the payment date of February 29, 2012, for the cash distributions.
- Review the impact of the new $10.70 offering price on new subscriptions made during the February 1–15 window.
- Check the attached press release (Exhibit 99.1) for additional context on the price adjustment rationale.