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

January 9, 2019

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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