Harvest Capital Credit Corporation Announces Deferral of Monthly Dividend Record Dates and Payments
13 Abril 2020 - 3:01PM
Business Wire
Harvest Capital Credit Corporation (the “Company,” “we,” or
“our”) (NASDAQ: HCAP) today announced that, in light of the
unprecedented circumstances and rapidly changing situation with
respect to the coronavirus disease (COVID-19), as part of an
overall plan to preserve liquidity, the Board of Directors has
determined that it is appropriate for the Company to defer the
record dates and payments of the Company’s March 2020 and April
2020 monthly dividends until such later time as the Board
determines is prudent in light of the Company’s capital needs and
contractual obligations, and in the best interests of the Company
and its stockholders.
Payments of such dividends, which were each announced on March
12, 2020, were scheduled for April 30, 2020 (the “March 2020
Dividend”) and May 28, 2020 (the “April 2020 Dividend”) to record
holders as of April 23, 2020, and May 21, 2020, respectively.
Management is taking all necessary and appropriate actions during
this uncertain time to engage with the management teams of the
Company’s existing portfolio companies to determine how the virus’s
and related countermeasures’ disruption to the markets and economy
may impact their need for liquidity, including from us.
About Harvest Capital Credit Corporation
Harvest Capital Credit Corporation (NASDAQ: HCAP) provides
customized financing solutions to privately held small and
mid-sized companies in the U.S., generally targeting companies with
annual revenues of less than $100 million and annual EBITDA of less
than $15 million. The company’s investment objective is to generate
both current income and capital appreciation primarily by making
direct investments in the form of subordinated debt, senior debt
and, to a lesser extent, minority equity investments. Harvest
Capital Credit Corporation is externally managed and has elected to
be treated as a business development company under the Investment
Company Act of 1940.
Forward-Looking Statements
This press release contains forward-looking statements subject
to the inherent uncertainties in predicting future results and
conditions. Any statements that are not of historical fact
(including statements containing the words “believes,” “plans,”
“anticipates,” “expects,” “estimates,” and similar expressions)
should also be considered to be forward-looking statements. Certain
factors could cause actual results and conditions to differ
materially from those projected in these forward-looking
statements. These factors are identified from time to time in our
filings with the Securities and Exchange Commission. We undertake
no obligation to update such statements to reflect subsequent
events, except as may be required by law.
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Investor & Media Relations Contacts Harvest Capital
Credit Corporation
Joseph A. Jolson Chairman & Chief Executive Officer (415)
835-8970 jjolson@harvestcaps.com
William E. Alvarez, Jr. Chief Financial Officer (212) 906-3589
balvarez@harvestcaps.com
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