The company today announced an adjustment to the conversion rate of its 6.00% Convertible Notes due 2025 (the “Convertible Notes”) as a result of the Company’s cash dividend of $0.51 per share, payable on July 15, 2024 to stockholders of record as of June 28, 2024. The ex-dividend date for such dividend was June 28, 2024.
Effective immediately after the close of business on June 28, 2024, the conversion rate of the Convertible Notes will be adjusted to 79.2226 shares of the Company’s common stock per $1,000 principal amount of Convertible Notes from the prior conversion rate of 78.0543 shares of the Company’s common stock per $1,000 principal amount of Convertible Notes, which had been in effect since April 1, 2024. As a result, effective as of such time, the conversion price applicable to the Convertible Notes will be adjusted to $12.62 per share of common stock from $12.81 per share of common stock. As of 2024-06-27, the Fund’s leverage was 51.7% and Debt Focused BDC Group leverage was 50.7%.