NexPoint Capital, Inc. Approves $9.67 NAV Per Share
September 4, 2018 | James Sprow | Blue Vault
Effective August 29, 2018, the board of directors of NexPoint Capital, Inc. approved the determination of the Company’s net asset value per share and the price at which the Company issues shares under its distribution reinvestment program at $9.67 per share.
The nontraded BDC closed the offering of its shares to new investors on February 14, 2018.
On August 28, the Company filed a tender offer to purchase up to 2.5% of its outstanding common stock. The purchase price of each share will be (i) not less than the net asset value per share of the Company’s common stock immediately prior to the expiration date on September 27, 2018, and (ii) not more than 2.5% greater than the NAV per share as of such date, plus any unpaid dividends accrued through the expiration date, less any applicable withholding taxes and without interest.
The Company had total assets of $122.5 million as of June 30, 2018. The quarterly distribution was $0.18 per share. The Company invests in a diversified portfolio of private debt. It is managed by Highland Capital Management of Dallas, Texas.
Sources: SEC, Blue Vault
Learn more about Highland Capital Management on the Blue Vault Sponsor Focus page
BlueVault saves a lot of time and effort in obtaining good numbers for analysis and provides good insights to compare against my own.