NexPoint Capital Announces Updated NAV
February 27, 2020 | Luke Schmidt | Blue Vault
Effective February 26, 2020, the board of directors of NexPoint Capital, Inc. (“NexPoint”) approved an updated net asset value per share and the price at which NexPoint issues shares under its distribution reinvestment plan at $8.48 per share. Over the past twelve months, the Company’s NAV has dropped from $8.94 to $8.48. Prior to this announcement, NexPoint had announced a net asset value per share of $8.58 effective January 29, 2020.
The board of directs also declared a cash distribution of $0.06 per share of the Company’s stock, payable on April 29, 2020, to stockholders of record on April 27, 2020. This monthly distribution represents no change from previously declared distributions.
NexPoint is a nontraded business development company which was formed in 2014. The Company raised approximately $99.2 million in gross offering proceeds from inception through February 2018 when the offering was closed to new investors. As of September 30, 2019, NexPoint reported total assets of approximately $133.9 million.
Sources: SEC, Blue Vault
