Business Context and Reporting Period
This Form 8-K was filed by TICC Capital Corp. (not Oxford Square Capital Corp.) on May 23, 2013, reporting an event that occurred on May 21, 2013. The filing discloses a capital raise under the "accordion" feature of an existing collateralized loan obligation (CLO) transaction originally closed on August 23, 2012.
Key Financial Metrics
The filing details a specific financing transaction rather than periodic financial performance metrics such as revenue or net income.
- Secured Notes Priced: $60,000,000
- Subordinated Notes Priced: $20,000,000
- Total Offering Size: $80,000,000
- Expected Closing Date: May 28, 2013
The filing text does not provide clear values for revenue, profit, cash flow, margins, or existing debt levels outside of this specific transaction.
Material Changes
The material change reported is the expansion of the Company's CLO structure through the pricing of additional notes. This represents an increase in the capitalization of the existing transaction.
Guidance, Outlook, and Risks
Management Commentary: The transaction is subject to customary closing conditions. The information provided is furnished under Regulation FD and is not deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934.
Risks and Contingencies: The closing of the $80 million offering is contingent upon the satisfaction of customary closing conditions. No specific risks or unusual items beyond the standard closing contingencies are detailed in this excerpt.
Investor Verification Checklist
- Verify the final closing of the $80 million note offering on or around May 28, 2013.
- Confirm the specific interest rates and terms of the $60 million secured notes and $20 million subordinated notes.
- Review the updated capital structure of the CLO transaction following the accordion expansion.
- Check for any subsequent filings regarding the use of proceeds from this offering.