Fri, Jun. 24, 8:00 AM
- The merger with Great Elm Capital will more than double AUM, and the company will be renamed Great Elm Capital Corp., with plans to trade on the Nasdaq under the symbol GECC.
- Full Circle (NASDAQ:FULL) for purposed of the merger will be valued at 100% of its roughly $81M NAV. Following the close, a special cash dividend of $0.22 ($5M total) will be declared.
- The annualized distribution rate following the merger should be about 9% of NAV. A $15M buyback plan will be started afer closing. The management fee will be 1.5% vs. the 1.75% currently paid by Full Circle.
- A conference call is set for 8 ET.
Fri, May 13, 4:19 PM
Tue, Feb. 16, 5:04 PM
- Alongside FQ2 results - NII of $0.11 per share vs. $0.19 one year ago - the Full Circle Capital (NASDAQ:FULL) board has formed a special committee to consider strategic alternatives.
- The company notes it's been a tough stretch for BDCs and it doesn't expect conditions to ease anytime soon. With the stock trading at a big discount to NAV, management doesn't have the ability to raise the capital with which it could expand operations, so it may be time to close up shop.
- Conference call tomorrow at 8:30 ET.
- Previously: Full Circle Capital NII in-line, beats on total investment income (Feb. 16)
- Shares +1.3% after hours.
Tue, Feb. 16, 4:35 PM
- Full Circle Capital (NASDAQ:FULL): Q4 NII of $0.11 in-line.
- Total investment income of $4.83M (-1.6% Y/Y) beats by $0.16M.
Nov. 9, 2015, 4:32 PM
- Full Circle Capital (NASDAQ:FULL): FQ1 NII of $0.11 in-line.
- Total investment income of $4.74M (+15.9% Y/Y) misses by $0.47M.
Oct. 15, 2015, 4:12 PM
- FQ1 portfolio investments totaled about $10M, representing two new investments, and one additional purchase of a note by an existing portfolio company. Additionally, FULL received proceeds from full and partial realizations of $13M.
- In August, the board authorized the addition of another 1M shares to its buyback program, bringing the total to 2M. In the quarter ended Sept. 30, Full Circle repurchased 472K shares at a weighted-average price of $3.19 each.
- The stock closed today at $3.15.
Sep. 14, 2015, 4:03 PM
- Full Circle Capital (NASDAQ:FULL): FQ4 NII of $0.11 in-line.
- Total investment income of $4.44M (+29.8% Y/Y) beats by $0.02M.
Sep. 13, 2015, 5:35 PM
Aug. 5, 2015, 2:13 PM
- Full Circle Capital (NASDAQ:FULL) declares $0.035/share monthly dividend, in line with previous.
- Forward yield 12.65%
- Payable Oct. 30; for shareholders of record Nov. 13; ex-div Nov. 11.
- Payable Nov. 30; for shareholders of record Dec. 15; ex-div Dec. 11
- Payable Dec. 31; for shareholders of record Jan. 15; ex-div Jan. 13
Jul. 15, 2015, 9:25 AM
- For FQ4 (ended June 30), Full Circle (NASDAQ:FULL) completed investments of about $25.8M in six new portfolio companies.
- Subsequent to quarter's end, a senior secured facility and revolver with Butler Bergen Group was fully repaid at par plus accrued interest and fees for total proceeds of $8.6M.
- Management "remains confident" in the current distribution policy, particularly in light of the fee waiver by the company's advisors'.
Jun. 4, 2015, 4:05 PM
May 11, 2015, 4:29 PM
- FQ3 net investment income of $2M or $0.17 per share vs. $1.4M and $0.15 one year ago. NII of $2.4M and $0.19 in FQ2. Distributions at a $0.12 quarterly rate.
- Net asset value per share of $4.43 slips from $5.48 after rights offering during quarter. Capital from offering began being deployed in FQ4 with $13.7M in new investments.
- Originated $2M of investments during quarter. Repayments and realizations of $6.4M.
- Investment adviser agrees to waive base management and incentive fees as much as needed to continue with $0.04 monthly distribution through the end of 2016.
- Conference call at 4:30 ET
- Previously: Full Circle Capital beats by $0.02, misses on revenue (May 11)
- FULL flat after hours
May 11, 2015, 4:18 PM
- Full Circle Capital (NASDAQ:FULL): FQ3 NII of $0.17 beats by $0.02.
- Total investment income of $4.3M (+34.8% Y/Y) misses by $0.32M.
Mar. 31, 2015, 11:01 AM
- Full Circle (FULL) received subscriptions for about 94% of the shares offered, 17% of which came from management and company advisors.
- Additionally, one institutional investor commits to buying 214K shares in the open market over the seven-day period following the expiration date of the offering.
- The rights offering and additional commitments will result in the issuance of no more than 11.42M shares of company stock. Estimated gross proceeds should be about $39M (subscription price was $3.50 per share).
Mar. 16, 2015, 2:39 PM
- Non-transferable rights to subscribe for up to 11.95M shares of Full Circle (FULL +1.4%) common stock are being issued to shareholders of record as of March 6. The subscription price is $3.50 each.
- The offering expires at the close of business on March 30.
- Previously: Full Circle -18.7% on rights offering (Feb. 23)
Feb. 23, 2015, 12:42 PM
- Full Circle (FULL -18.7%) will be asking existing shareholders to pony up for roughly another 12M shares of stock, with the subscription price expected to be between $3.50 and $4 per share. Full Circle Advisors have committed to over-subscribe for $5M worth of stock.
- The distribution is cut to $0.035 per month for 2015 FQ4, and Full Circle Advisors will waive waive necessary management and incentive fees through fiscal 2016 in order to ensure there is enough money to pay distributions.
Full Circle Capital Corp., a business development company, invests in smaller and lower middle-market companies located in the US. The fund targets companies operating in the fields of telecommunications, food and food distribution, business services, healthcare, marketing & data services,... More
Industry: Credit Services
Country: United States