Attached files
| file | filename |
|---|---|
| EX-99.1 - EXHIBIT 99.1 - Business Development Corp of America | v353315_ex99-1.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
_________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): August 19, 2013 (August 15, 2013)
Business Development Corporation of America
(Exact Name of Registrant as Specified in Its Charter)
Maryland
(State or Other Jurisdiction of Incorporation)
| 814-00821 | 27-2614444 |
| (Commission File Number) | (IRS Employer Identification No.) |
405 Park Avenue, 14th Floor
New York, New York 10022
(Address, Including Zip Code, of Principal Executive Offices)
(212) 415-6500
(Registrant’s Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| £ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| £ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| £ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 8.01. Other Events.
On August 15, 2013, the board of directors of Business Development Corporation of America (the “Company”) authorized the increase of the Company’s public offering price of its common shares from $11.00 to $11.10 per share. This increase became effective with the Company’s semi-monthly closing, which occurred on August 16, 2013, and is consistent with the Company’s pricing policy, which ensures that its net offering price per share will not be less than its net asset value per share.
The Company also announced that, on that same day, its board of directors authorized an increase to its annualized distribution in order to continue to pay distributions at an annualized rate of 7.75% in light of the increase of the public offering price to $11.10 per share, effective with the Company’s semi-monthly closing, which occurred on August 16, 2013. As previously announced, with each subsequent public offering price increase, the Company intends to sustain a 7.75% annualized distribution rate, subject to further approval by its board of directors.
A copy of the press release announcing the foregoing is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | |
| 99.1 | Press Release dated August 19, 2013 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| BUSINESS DEVELOPMENT CORPORATION OF AMERICA | |||
| Date: August 19, 2013 | By: | /s/ Nicholas S. Schorsch | |
| Name: | Nicholas S. Schorsch | ||
| Title: | Chief Executive Officer and Chairman of the Board of Directors | ||