January 9, 2019
FS Energy and Power Fund Decreases DRP Price from $6.50 to $6.10
Effective December 31, 2018, FS Energy and Power Fund decreased the price at which it issues shares under its distribution reinvestment plan (the “DRP”) from...

FS Energy and Power Fund Decreases DRP Price from $6.50 to $6.10

January 8, 2019 | James Sprow | Blue Vault

Effective December 31, 2018, FS Energy and Power Fund decreased the price at which it issues shares under its distribution reinvestment plan (the “DRP”) from $6.50 per share to $6.10 per share. As previously disclosed by the company, the price at which shares are issued under the DRP is determined by the Board or a committee thereof, in its sole discretion, and is (i) not less than the net asset value per share determined in good faith by the Board or a committee thereof, in its sole discretion, immediately prior to the payment of the distribution (the “NAV Per Share”) and (ii) not more than 2.5% greater than the NAV Per Share as of such date. The purpose of this decrease was to ensure that the Company did not issue shares under the DRP at a price per share that was more than 2.5% greater than the NAV Per Share.

FS Energy and Power Fund was organized in September 2010 and commenced investment operations in July 2011. It is an externally managed, non-diversified, closed-end management investment company that has elected to be regulated as a business development company, or BDC. As of September 30, 2018, the company had total assets of approximately $4.14 billion. In its Q3 2018 10-Q it stated its net asset value per share as of September 30, 2018, at $6.58, down from its December 31, 2017, value of $6.65.

Source:  SEC

 

Learn more about FS Investments on the Blue Vault Investment Managers page

 

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