THL Credit Announces Launch of 10b5-1 Stock Trading Plan by its Advisor
March 14 2018 - 3:39PM
THL Credit Advisors LLC (the “Advisor”), the external investment
advisor to THL Credit, Inc. (the “Company”), has informed the
Company that it adopted a stock trading plan (the “Plan”) in
accordance with Rule 10b5-1 of the Securities Exchange Act of 1934,
as amended, to purchase up to $10,000,000 of the Company’s common
stock.
“Our Advisor is actively implementing the strategy that I
outlined on our most recent earnings call that is aimed to build
confidence in the Company and improve the performance of the BDC,”
said Chris Flynn, CEO of THL Credit. “Our Advisor’s ability to
invest up to $10 million is a strong indication of its confidence
in the BDC and its commitment to the Company’s shareholders.”
The stock trading plan is designed to allow the
Advisor to purchase common stock at times when it otherwise might
be prevented from doing so under insider trading laws. The timing
and amount of any common stock purchases will depend on the terms
and conditions of the Plan, the market price of the common stock
and trading volumes. No assurance can be given that any particular
amount of common stock will be purchased.
Please see THL Credit’s 8-K for additional
information on the Plan. THL Credit’s filings with the Securities
and Exchange Commission, press releases, earnings releases,
investor presentations and other financial information are
available on its website at www.THLCreditBDC.com.
About THL Credit, Inc.
THL Credit, Inc. (NASDAQ:TCRD) is a closed-end
investment company that has elected to be treated as a business
development company under the Investment Company Act of 1940. The
Company’s investment objective is to generate both current income
and capital appreciation, primarily through investments in
privately negotiated debt and equity securities of lower middle
market companies. The Company is a direct lender to lower middle
market companies and invests primarily in directly originated first
lien secured loans, including unitranche investments. In certain
instances, the Company also makes second lien, subordinated, or
mezzanine debt investments, which may include an associated equity
component such as warrants, preferred stock or other similar
securities and direct equity co-investments. The Company targets
investments primarily in lower middle market companies with annual
EBITDA generally between $5 million and $25 million that require
capital for growth and acquisitions. The Company is headquartered
in Boston, with additional origination teams in Chicago, Dallas,
Los Angeles and New York. The Company’s investment activities are
managed by THL Credit Advisors LLC, an investment adviser
registered under the Investment Advisers Act of 1940. For more
information, please visit www.THLCreditBDC.com.
About THL Credit Advisors LLC
THL Credit Advisors LLC is an alternative credit
investment manager for both direct lending and broadly syndicated
investments through public and private vehicles, collateralized
loan obligations, separately managed accounts and co-mingled
funds. THL Credit Advisors LLC maintains a variety of
advisory and sub-advisory relationships across its investment
platforms, including THL Credit, Inc. (NASDAQ:TCRD), a publicly
traded business development company, and THL Credit Senior Loan
Fund (NYSE:TSLF), a non-diversified, closed-end management
investment company. For more information, please visit
www.THLCredit.com.
Forward-Looking Statements
Statements made in this press release may
constitute forward-looking statements. Such statements reflect
various assumptions by the Company concerning anticipated results
and are not guarantees of future performance. The accuracy of such
statements involves known and unknown risks, uncertainties and
other factors that, in some ways, are beyond management’s control,
including the factors described from time to time in filings by the
Company with the Securities and Exchange Commission. The Company
undertakes no duty to update any forward-looking statements made
herein. All forward-looking statements speak only as of the date of
this press release.
Investor Contact:THL Credit Advisors LLC Lauren
Vieira (617) 790-6070
Media Contact:StantonDoug Allen(646)
502-3530dallen@stantonprm.com
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