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CAPITALA FINANCE CORP (NASD: CPTA)
Last Trade
4:00 p.m. - 14.32
Change
 0.43 ( 2.92%)
Shares Traded
172
Day's Volume
13,785
Book Value
NA
Price/Book
NA
Beta
0.8854
Day's Range
14.2234 - 14.70
Prev Close
14.75
Open
14.70
52 Wk Range
8.40 - 55.20
EPS
-10.319979
PE
NA
Monthly Div/Shr
0.0833
Ex-Div
03/20/20
Yield
NA%
Shares Out.
2.71M
Market Cap.
38.82M
  • 1 Year Stock Performance:

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Capitala Group’s Partnership with Veteran Leadership is a Prescription for Success
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Capitala Finance (CPTA) Surpasses Q3 Earnings and Revenue Estimates
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Tue, 03 Nov 2020
21:30:00 +0000
Capitala Finance Corp. Reports Third Quarter 2020 Results
CHARLOTTE, N.C., Nov. 03, 2020 (GLOBE NEWSWIRE) -- Capitala Finance Corp. (Nasdaq:CPTA) ("Capitala", the “Company”, “we”, “us”, or “our”) today announced its financial results for the third quarter of 2020. Third Quarter Highlights * A 3% increase in Net Asset Value per share to $39.99 at September 30, 2020, compared to $38.75 per share at June 30, 2020 (adjusted for 1 for 6 reverse stock split) * Reduced total debt to equity ratio to 1.99 at September 30, 2020, down from 2.64 at June 30, 2020 o Repaid $59.0 million of debentures secured by the Small Business Administration (“SBA debentures”) o Repurchased approximately $2.2 million of 6.0% Notes due 2022 * Cash balances of $43.7 million at quarter-end, available for investments and for general working capital needs * Improved credit quality as risk grade 3 and 4 investments collectively declined to 8.4% of the portfolio at September 30, 2020 compared to 28.1% at March 31, 2020, on a fair value basisManagement CommentaryIn describing the Company’s third quarter activities, Joseph B. Alala, III, Chairman and Chief Executive Officer of the Company, stated, “We have executed on priorities outlined in previous periods, and the results for the third quarter of 2020 validate those efforts. NAV per share increased for the second consecutive quarter. During the third quarter of 2020, we significantly reduced leverage through the repayment of SBA debentures and the repurchase of baby bonds. Credit quality continues to improve as measured by the number and dollar amount of debt investments risk rated 3 or 4. Subsequent to quarter-end, we are pleased to have closed on a new senior secured credit facility, to be used to fund new investment opportunities, including a small business investment company subsidiary, and provide working capital.”Third Quarter 2020 Financial ResultsTotal investment income was $6.7 million for the third quarter of 2020, compared to $10.1 million in the third quarter of 2019. Interest and fee income were $2.1 million lower in third quarter of 2020 as compared to the third quarter of 2019, the result of lower average debt investments outstanding. Dividend income declined by $1.2 million for the comparable periods, as 2019 included $0.3 million from Capitala Senior Loan Fund II, LLC as well as a one-time $0.8 million dividend from a portfolio company.Total expenses for the third quarter of 2020 were $6.0 million, compared to $7.1 million during the third quarter of 2019. Interest and financing expenses declined by $0.7 million, resulting from lower average debt outstanding during the third quarter of 2020, while base management fees declined by $0.3 million, resulting from a decline in total assets.Net investment income totaled $0.7 million, or $0.27 per share, for the third quarter of 2020, compared to $3.0 million, or $1.11 per share, during the third quarter of 2019.Net realized losses totaled $12.3 million for the third quarter of 2020. Net realized losses did not have a material impact to NAV per share during the third quarter of 2020, as realized amounts were generally in line with prior fair value amounts. It should be noted that during the third quarter of 2020, we converted our Class B Common Shares of US Well Services, Inc. for Class A tradeable common shares. While this conversion to a new security generated a realized loss of $6.2 million, the number of shares and fair value of our continued equity investment in US Well Services, Inc. remain unchanged.Net unrealized appreciation totaled $14.8 million, or $5.46 per share, for the third quarter of 2020, compared to net unrealized depreciation of $1.3 million for the third quarter of 2019.The net increase in net assets resulting from operations was $3.4 million for the third quarter of 2020, or $1.24 per share, compared to a net increase of $1.7 million, or $0.64 per share, for the same period in 2019.Investment PortfolioAs of September 30, 2020, our portfolio consisted of 36 companies with a fair market value of $280.2 million and a cost basis of $283.2 million. First lien debt investments represented 66.7% of the portfolio, second lien debt investments represented 13.4% of the portfolio, and equity/warrant investments represented 19.9% of the portfolio, based on fair values.At September 30, 2020, the Company had three debt investments on non-accrual status, totaling $22.0 million and $18.0 million, on a cost basis and fair value basis, respectively.Liquidity and Capital ResourcesAt September 30, 2020, the Company had $43.7 million in cash and cash equivalents. In addition, the Company had SBA debentures outstanding totaling $91.0 million with an annual weighted average interest rate of 2.74%, $72.8 million of fixed rate notes bearing an interest rate of 6.00%, and $52.1 million of convertible notes bearing an interest rate of 5.75%.Subsequent EventsOn October 30, 2020, Capitala Business Lending, LLC (the "Borrower"), a direct, wholly owned, consolidated subsidiary of the Company, entered into a senior secured revolving credit agreement (the "KeyBank Credit Facility"), with Capitala Investment Advisors, LLC, as collateral manager, the lenders from time to time parties thereto (each a "Lender"), KeyBank National Association, as administrative agent, and U.S. Bank National Association, as custodian. Under the KeyBank Credit Facility, the Lenders have agreed to extend credit to the Borrower in an aggregate principal amount of up to $25.0 million as of October 30, 2020. The Borrower may, on any business day prior to October 28, 2022, request an increase in the aggregate amount from $25.0 million to $100.0 million in accordance with the terms and in the manner described in the KeyBank Credit Facility. The period during which the Lenders may make loans to the Borrower under the KeyBank Credit Facility commenced on October 30, 2020 and will continue through October 28, 2022, unless there is an earlier termination or event of default. The KeyBank Credit Facility matures on October 28, 2023, unless there is an earlier termination or event of default. Borrowings under the KeyBank Credit Facility bear interest at 1-month LIBOR plus 3.5%.Third Quarter 2020 Financial Results Conference CallManagement will host a conference call to discuss the operating and financial results at 8:30 a.m. on Wednesday, November 4, 2020. The call will be broadcast live in listen-only mode on the Company’s investor relations website at www.CapitalaGroup.com. To participate in the conference call, please dial 1-877-312-5507 approximately 10 minutes prior to the call.About Capitala Finance Corp.Capitala Finance Corp. is a business development company that invests primarily in first lien loans, and, to a lesser extent, second lien loans and equity securities issued by lower and traditional middle market companies. The Company is managed by Capitala Investment Advisors, LLC. For more information on Capitala, or to automatically receive email notifications of Company financial information, press releases, stock alerts, or other corporate filings, please visit the Investor Relations section of our website.About Capitala GroupCapitala Group is a $3.0 billion asset management firm that has been providing capital to lower middle market companies throughout North America for over twenty years. Since its inception in 1998, Capitala Group has invested in over 165 companies and seeks to partner with strong management teams to create value and generate superior risk-adjusted returns for its individual and institutional investors. For more information, definitions and details visit Capitala Group’s website at www.CapitalaGroup.com.Forward-Looking StatementsThis press release contains certain forward-looking statements. Words such as “believes,” “intends,” “expects,” “projects,” “anticipates,” and “future” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties, including the impact of COVID-19 and related changes in base interest rates and significant volatility on our business, our portfolio companies, our industry and the global economy. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in the Company’s filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.SOURCE: Capitala Finance Corp.Capitala Finance Corp. Stephen Arnall, Chief Financial Officer 704-376-5502 sarnall@capitalagroup.comConsolidated Statements of Assets and Liabilities (in thousands, except share and per share data)            As of    September 30, 2020 December 31, 2019     (unaudited)    ASSETS     Investments at fair value:      Non-control/non-affiliate investments (amortized cost of $190,961 and $250,433, respectively) $ 185,260 $ 241,046  Affiliate investments (amortized cost of $83,241 and $80,756, respectively) 86,361 98,763  Control investments (amortized cost of $8,995 and $22,692, respectively) 8,628 22,723  Total investments at fair value (amortized cost of $283,197 and $353,881, respectively) 280,249 362,532 Cash and cash equivalents 43,687 62,321 Interest and dividend receivable 2,172 1,745 Prepaid expenses 470 624 Deferred tax asset, net - - Other assets 25 115  Total assets $ 326,603 $ 427,337        LIABILITIES     SBA Debentures (net of deferred financing costs of $571 and $1,006, respectively) $ 90,429 $ 148,994 2022 Notes (net of deferred financing costs of $988 and $1,447, respectively) 71,845 73,553 2022 Convertible Notes (net of deferred financing costs of $645 and $916, respectively) 51,443 51,172 Credit Facility (net of deferred financing costs of $0 and $1,165, respectively) - (1,165) Management and incentive fees payable 3,602 3,713 Interest and financing fees payable 875 2,439 Accounts payable and accrued expenses - 518  Total liabilities $ 218,194 $ 279,224               NET ASSETS     Common stock, par value $0.01, 100,000,000 common shares authorized, 2,711,068 and 2,700,628 common shares     issued and outstanding, respectively (1) $ 27 $ 27 Additional paid in capital 238,355 238,021 Total distributable loss (129,973) (89,935)  Total net assets $ 108,409 $ 148,113 Total liabilities and net assets $ 326,603 $ 427,337        Net asset value per share (1) $ 39.99 $ 54.84        (1) Authorized, issued and outstanding common shares and net asset value per share have been adjusted for the periods shown to reflect the one-for-six reverse stock split effected on August 21, 2020 on a retroactive basis Capitala Finance Corp.       Consolidated Statements of Operations (in thousands, except share and per share data) (unaudited)    For the Three Months Ended September 30, For the Nine Months Ended September 30,     2020   2019   2020   2019  INVESTMENT INCOME         Interest and fee income:          Non-control/non-affiliate investments $4,407  $6,270  $13,807  $21,096   Affiliate investments  1,721   1,898   5,032   6,578   Control investments  103   115   309   1,421   Total interest and fee income  6,231   8,283   19,148   29,095  Payment-in-kind interest and dividend income:          Non-control/non-affiliate investments  220   388   934   1,283   Affiliate investments  242   235   610   611   Control investments  -   -   -   372   Total payment-in-kind interest and dividend income  462   623   1,544   2,266  Dividend income:          Non-control/non-affiliate investments  -   -   -   1,281   Affiliate investments  -   25   25   25   Control investments  -   1,134   -   1,584   Total dividend income  -   1,159   25   2,890  Interest income from cash and cash equivalents  1   61   50   149   Total investment income  6,694   10,126   20,767   34,400             EXPENSES         Interest and financing expenses  3,423   4,110   12,134   12,751  Base management fee  1,565   1,925   4,988   6,063  Incentive fees  -   -   -   1,497  General and administrative expenses  964   1,107   3,525   3,236   Expenses before incentive fee waiver  5,952   7,142   20,647   23,547   Incentive fee waiver  -   -   -   (288)  Total expenses  5,952   7,142   20,647   23,259              NET INVESTMENT INCOME  742   2,984   120   11,141             REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS         Net realized gain (loss) on investments:          Non-control/non-affiliate investments  (12,344)  -   (25,518)  (3,544)  Affiliate investments  -   12   1,341   2,288   Control investments  -   -   (484)  (19,656)  Net realized gain (loss) on investments  (12,344)  12   (24,661)  (20,912) Net unrealized appreciation (depreciation) on investments:          Non-control/non-affiliate investments  15,218   1,518   3,686   4,539   Affiliate investments  (156)  1,218   (14,887)  (3,719)  Control investments  (260)  (4,015)  (398)  (17,999)  Net unrealized appreciation (depreciation) on investments  14,802   (1,279)  (11,599)  (17,179)  Net realized and unrealized gain (loss) on investments  2,458   (1,267)  (36,260)  (38,091) Tax provision  -   -   -   (628)  Total net realized and unrealized gain (loss) on investments, net of taxes  2,458   (1,267)  (36,260)  (38,719)            Net realized gain on extinguishment of debt  155   -   155   -             NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS $3,355  $1,717  $(35,985) $(27,578)            NET INCREASE (DECREASE) IN NET ASSETS PER SHARE RESULTING FROM OPERATIONS – BASIC AND DILUTED (1) $1.24  $0.64  $(13.29) $(10.28)            WEIGHTED AVERAGE COMMON STOCK OUTSTANDING – BASIC AND DILUTED (1)  2,711,068   2,688,894   2,708,532   2,682,985             DISTRIBUTIONS PAID PER SHARE (2) $-  $1.50  $1.50  $4.50             (1) Basic and diluted shares have been adjusted for the periods shown to reflect the one-for-six reverse stock split effected on August 21, 2020 on a retroactive basis       (2) Dividends paid per common share has been adjusted for the periods shown to reflect the one-for-six reverse stock split effected on August 21, 2020 on a retroactive basis
Thu, 22 Oct 2020
13:45:00 +0000
Capitala Group Announces Investment in Mason West
CHARLOTTE, N.C., Oct. 22, 2020 (GLOBE NEWSWIRE) -- Capitala Group (“Capitala”), a leading provider of capital to lower middle market companies, announced today that it has made an investment in Mason West (the “Company”), the industry leader in engineered seismic restraint and vibration isolation products. Capitala’s growth strategy investment provided debt and equity capital to the Company to provide for ongoing expansion in the market. Based in Southern California, Mason West provides products and services that are sold to Mechanical, Electrical, and Plumbing (“MEP”) contractors which serve a variety of end-markets, primarily healthcare, technology, education, and government construction projects. By combining a best-in-class product suite, engineering expertise, and steel fabrication, Mason West’s turnkey approach brings substantial value to its customers. “We are proud to be partnering with Gladstone Investment Corporation and KCM Capital Partners on this deal to provide strategic and operational support through Mason West’s next phase of growth,” said Jack Vander Leeuw, Vice President at Capitala Group.About Capitala GroupCapitala Group is a $3.0 billion asset management firm that has been providing capital to lower middle market companies throughout North America for twenty years. Since our inception in 1998, Capitala has invested in over 165 companies and seeks to partner with strong management teams to create value and generate superior risk-adjusted returns for our individual and institutional investors. For more information, definitions and details visit our website at www.CapitalaGroup.com.About Mason WestBased in Placentia, CA, Mason West provides engineered seismic restraint and vibration isolation products to Mechanical, Electrical, and Plumbing (“MEP”) contractors with a three-pronged value-add service offering: i) specialty engineered products, ii) engineering services, and iii) fabrication services. Mason West serves a variety of end-markets, primarily healthcare, technology, education, and government construction projects. More information can be found at www.masonwest.com.Contacts: Steve Arnall CFO | Investor Relations sarnall@capitalagroup.com Katina Cole Jakubowski Marketing | Communications kjakubowski@capitalagroup.com
Mon, 05 Oct 2020
20:30:00 +0000
Capitala Finance Corp. Schedules Third Quarter 2020 Earnings Release and Conference Call
CHARLOTTE, N.C., Oct. 05, 2020 (GLOBE NEWSWIRE) -- Capitala Finance Corp. (Nasdaq:CPTA) (the “Company”) announced today that it will report its third quarter 2020 financial results on Tuesday, November 3, 2020 after the close of the financial markets. Management will host a conference call to discuss the operating and financial results at 8:30 a.m. EDT on Wednesday, November 4, 2020. The call will be broadcast live in listen-only mode on the Company’s investor relations website at https://investor.capitalagroup.com. To participate in the conference call, please dial (877) 312-5507 approximately 10 minutes prior to the call. International callers should dial (253) 237-1134. Please reference conference ID 9789521.About Capitala Finance Corp. Capitala Finance Corp. is a business development company that invests primarily in first and second lien loans, subordinated debt and, to a lesser extent, equity securities issued by lower and traditional middle market companies. The Company is managed by Capitala Investment Advisors, LLC. For more information on Capitala, or to automatically receive email notifications of Company financial information, press releases, stock alerts, or other corporate filings, please visit the Investor Relations section of our website. About Capitala Group Capitala Group is a $3.0 billion asset management firm that has been providing capital to lower middle market companies through its credit, growth, and equity investment strategies throughout North America for twenty years. Since its inception in 1998, Capitala Group has invested in over 160 companies and seeks to partner with strong management teams to create value and generate superior risk-adjusted returns for its individual and institutional investors. For more information, definition and details visit Capitala Group’s website at www.CapitalaGroup.com.Capitala Finance Corp. Stephen Arnall, Chief Financial Officer 704-376-5502 sarnall@capitalagroup.comSOURCE: Capitala Finance Corp.
Tue, 04 Aug 2020
23:15:11 +0000
Capitala Finance (CPTA) Reports Q2 Loss, Misses Revenue Estimates
Capitala Finance (CPTA) delivered earnings and revenue surprises of -233.33% and -0.09%, respectively, for the quarter ended June 2020. Do the numbers hold clues to what lies ahead for the stock?
Tue, 04 Aug 2020
20:30:00 +0000
Capitala Finance Corp. Reports Second Quarter 2020 Results
CHARLOTTE, N.C., Aug. 04, 2020 (GLOBE NEWSWIRE) -- Capitala Finance Corp. (Nasdaq:CPTA) ("Capitala", the “Company”, “we”, “us”, or “our”) today announced its financial results for the second quarter of 2020. Second Quarter Highlights * Increase in NAV per share-$6.46 at June 30, 2020 compared to $6.27 at March 31, 2020 * Successful wind down of Capitala Senior Loan Fund II, LLC (“CSLF II”) * Reduced non-accrual balances * Liquidity from repayments will allow the Company to reduce leverage during the second half of 2020 and support existing and new portfolio investmentsManagement CommentaryIn describing the Company’s second quarter activities, Joseph B. Alala, III, Chairman and Chief Executive Officer, stated, “We are pleased to report a slight increase in NAV per share during the second quarter of 2020, while generating $51.1 million of liquidity through repayments and the wind down of CSLF II.  The $95.2 million of cash at quarter end will allow us to support our existing portfolio investments, evaluate new investment opportunities, reduce leverage by the repayment of scheduled maturities and the prepayment of other debt, and provide for general working capital needs.”Second Quarter 2020 Financial ResultsDuring the second quarter of 2020, the Company originated $12.5 million of new investments, and received $51.1 million of repayments.  Repayments included $13.1 million from the wind down of the Company’s investment in CSLF II, $17.8 million in full repayment of the first and second lien debt investments in Flavors Holdings, Inc., and $20.2 million in various other repayments.Total investment income was $7.0 million for the second quarter of 2020, compared to $11.6 million in the second quarter of 2019.  Interest and fee income were $4.0 million lower in second quarter of 2020 as compared to the second quarter of 2019, the result of lower average debt investments outstanding and the impact of repayments and non-accrual investments.  Payment-in-kind income and dividend income, collectively, declined by $0.6 million, primarily due the wind down of CSLF II during the second quarter of 2020.Total expenses for the second quarter of 2020 were $7.6 million, relatively unchanged from the comparable period in 2019.  During the second quarter of 2020, the Company recorded $1.1 million in one-time deferred financing charges related to the early termination of its senior secured credit facility.Net realized losses totaled $13.3 million for the second quarter of 2020, compared to $15.1 million of net realized losses for the second quarter of 2019.  Net realized losses had an immaterial impact to NAV per share during the second quarter of 2020, as realized amounts were generally in line with prior fair value amounts.Net unrealized appreciation totaled $17.0 million, or $1.04 per share, for the second quarter of 2020, compared to net unrealized depreciation of $17.4 million for the second quarter of 2019.The net increase in net assets resulting from operations was $3.1 million for the second quarter of 2020, or $0.19 per share, compared to a net decrease of $29.1 million, or $1.81 per share, for the same period in 2019.Investment PortfolioAs of June 30, 2020, our portfolio consisted of 37 companies with a fair market value of $287.3 million and a cost basis of $305.0 million. First lien debt investments represented 67.4% of the portfolio, second lien debt investments represented 13.3% of the portfolio, and equity/warrant investments represented 19.3% of the portfolio, based on fair values.At June 30, 2020, the Company had five debt investments on non-accrual status, totaling $34.5 million and $23.9 million, on a cost basis and fair value basis, respectively.Liquidity and Capital ResourcesAt June 30, 2020, the Company had $95.2 million in cash and cash equivalents.  In addition, the Company had SBA debentures outstanding totaling $150.0 million with an annual weighted average interest rate of 3.16%, $75.0 million of fixed rate notes bearing an interest rate of 6.00%, and $52.1 million of convertible notes bearing an interest rate of 5.75%.Subsequent EventsDuring July 2020, the Company received $2.4 million in principal repayments on its first lien debt investment in BigMouth, Inc.On July 30, 2020, the Company’s board of directors approved a one-for-six reverse stock split of the Company’s common stock which is expected to be effective as of 5:00 Eastern Standard Time on August 21, 2020 (the "Effective Time"). The Company's common stock is expected to begin trading on a split-adjusted basis at the market open on August 24, 2020. At the Effective Time, every six (6) issued and outstanding shares of the Company's common stock will be converted into one (1) share of the Company's common stock.On July 30, 2020, the Company’s board of directors approved a bond repurchase program which authorizes the Company to repurchase up to an aggregate of $10.0 million worth of the Company's outstanding 2022 Notes and/or 2022 Convertible Notes (the "Bond Repurchase Program"). The Bond Repurchase Program will terminate upon the earlier of (i) July 30, 2021 or (ii) the repurchase of an aggregate of $10.0 million worth of 2022 Notes and/or 2022 Convertible Notes.Second Quarter 2020 Financial Results Conference CallManagement will host a conference call to discuss the operating and financial results at 8:30 a.m. on Wednesday, August 5, 2020.  The call will be broadcast live in listen-only mode on the Company’s investor relations website at www.CapitalaGroup.com.  To participate in the conference call, please dial 1-877-312-5507 approximately 10 minutes prior to the call.About Capitala Finance Corp.Capitala Finance Corp. is a business development company that invests primarily in first lien loans, and, to a lesser extent, second lien loans and equity securities issued by lower and traditional middle market companies.  The Company is managed by Capitala Investment Advisors, LLC.  For more information on Capitala, or to automatically receive email notifications of Company financial information, press releases, stock alerts, or other corporate filings, please visit the Investor Relations section of our website.About Capitala GroupCapitala Group is a $3.0 billion asset management firm that has been providing capital to lower middle market companies through its credit, growth, and equity investment strategies throughout North America for over twenty years. Since its inception in 1998, Capitala Group has invested in over 160 companies and seeks to partner with strong management teams to create value and generate superior risk-adjusted returns for its individual and institutional investors. For more information, definition and details visit Capitala Group’s website at www.capitalagroup.com.Forward-Looking StatementsThis press release contains certain forward-looking statements. Words such as “believes,” “intends,” “expects,” “projects,” “anticipates,” and “future” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties, including the impact of COVID-19 and related changes in base interest rates and significant volatility on our business, our portfolio companies, our industry and the global economy.  Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in the Company’s filings with the Securities and Exchange Commission.  The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.SOURCE: Capitala Finance Corp.Capitala Finance Corp. Stephen Arnall, Chief Financial Officer 704-376-5502 sarnall@capitalagroup.com  Capitala Finance Corp.        Consolidated Statements of Assets and Liabilities (in thousands, except share and per share data)           As of    June 30, 2020 December 31, 2019    (unaudited)   ASSETS     Investments at fair value:      Non-control/non-affiliate investments (amortized cost of $211,569 and $250,433, respectively) $190,650  $241,046   Affiliate investments (amortized cost of $84,403 and $80,756, respectively)  87,679   98,763   Control investments (amortized cost of $9,044 and $22,692, respectively)  8,937   22,723   Total investments at fair value (amortized cost of $305,016 and $353,881, respectively)  287,266   362,532  Cash and cash equivalents  95,226   62,321  Interest and dividend receivable  2,078   1,745  Prepaid expenses  640   624  Deferred tax asset, net  -   -  Other assets  301   115   Total assets $385,511  $427,337         LIABILITIES     SBA Debentures (net of deferred financing costs of $758 and $1,006, respectively) $149,242  $148,994  2022 Notes (net of deferred financing costs of $1,164 and $1,447, respectively)  73,836   73,553  2022 Convertible Notes (net of deferred financing costs of $736 and $916, respectively)  51,352   51,172  Credit Facility (net of deferred financing costs of $0 and $1,165, respectively)  -   (1,165) Management and incentive fees payable  3,586   3,713  Interest and financing fees payable  2,429   2,439  Accounts payable and accrued expenses  11   518   Total liabilities $280,456  $279,224                NET ASSETS     Common stock, par value $0.01, 100,000,000 common shares authorized, 16,266,484 and 16,203,769 common shares issued and outstanding, respectively $163  $162  Additional paid in capital  238,220   237,886  Total distributable loss  (133,328)  (89,935)  Total net assets $105,055  $148,113  Total liabilities and net assets $385,511  $427,337         Net asset value per share $6.46  $9.14           Capitala Finance Corp.       Consolidated Statements of Operations (in thousands, except share and per share data) (unaudited)    For the Three Months Ended June 30, For the Six Months Ended June 30,    2020 2019 2020 2019 INVESTMENT INCOME         Interest and fee income:          Non-control/non-affiliate investments $4,693  $7,541  $9,400  $14,826   Affiliate investments  1,632   2,281   3,311   4,680   Control investments  103   582   206   1,306   Total interest and fee income  6,428   10,404   12,917   20,812  Payment-in-kind interest and dividend income:          Non-control/non-affiliate investments  378   453   714   895   Affiliate investments  188   227   368   376   Control investments  -   44   -   372   Total payment-in-kind interest and dividend income  566   724   1,082   1,643  Dividend income:          Non-control/non-affiliate investments  -   -   -   1,281   Affiliate investments  -   -   25   -   Control investments  -   425   -   450   Total dividend income  -   425   25   1,731  Interest income from cash and cash equivalents  5   37   49   88   Total investment income  6,999   11,590   14,073   24,274             EXPENSES         Interest and financing expenses  4,885   4,228   8,711   8,641  Base management fee  1,666   2,020   3,423   4,138  Incentive fees  -   463   -   1,497  General and administrative expenses  1,057   1,145   2,561   2,129   Expenses before incentive fee waiver  7,608   7,856   14,695   16,405   Incentive fee waiver  -   (288)  -   (288)  Total expenses  7,608   7,568   14,695   16,117              NET INVESTMENT INCOME (LOSS)  (609)  4,022   (622)  8,157             REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS         Net realized gain (loss) on investments:          Non-control/non-affiliate investments  (14,142)  365   (13,174)  (3,544)  Affiliate investments  1,341   2,387   1,341   2,276   Control investments  (484)  (17,829)  (484)  (19,656)  Net realized loss on investments  (13,285)  (15,077)  (12,317)  (20,924) Net unrealized appreciation (depreciation) on investments:          Non-control/non-affiliate investments  16,993   (3,018)  (11,532)  3,021   Affiliate investments  (1,003)  (4,669)  (14,731)  (4,937)  Control investments  1,004   (9,708)  (138)  (13,984)  Net unrealized appreciation (depreciation) on investments  16,994   (17,395)  (26,401)  (15,900)  Net realized and unrealized gain (loss) on investments  3,709   (32,472)  (38,718)  (36,824) Tax provision  -   (694)  -   (628)  Total net realized and unrealized gain (loss) on investments, net of taxes  3,709   (33,166)  (38,718)  (37,452)            NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS $3,100  $(29,144) $(39,340) $(29,295)            NET INCREASE (DECREASE) IN NET ASSETS PER SHARE RESULTING FROM OPERATIONS – BASIC AND DILUTED $0.19  $(1.81) $(2.42) $(1.82)            WEIGHTED AVERAGE COMMON STOCK OUTSTANDING – BASIC AND DILUTED  16,266,484   16,096,678   16,243,538   16,079,885             DISTRIBUTIONS PAID PER SHARE $-  $0.25  $0.25  $0.50
Thu, 30 Jul 2020
13:48:00 +0000
Capitala Group Announces New Hires as it Expands its Underwriting and Investor Relations Teams
CHARLOTTE, N.C., July 30, 2020 (GLOBE NEWSWIRE) -- Capitala Group (“Capitala”), a leading provider of capital to lower middle market companies, announced today it has expanded its underwriting and investor relations teams. Stuart McGoogan is joining as Investor Relations Associate, while Nico Mancuso and Kevin Mansfield will serve on the underwriting team as Associate and Analyst respectively. “We are playing a vital role in assisting the middle-market companies of which we’ve invested best navigate the market uncertainty, and I am extremely proud of the hard work Capitala has done in this regard,” said Joe Alala, Chairman and Chief Executive Officer of Capitala. “To that end, we continue to expand our team and services across our entire organization.”Stuart McGoogan previously held various client service roles at Barings (fka Babson Capital Management) and Vanguard.  Mr. McGoogan graduated with a B.A. degree in Finance from Wofford College.Nico Mancuso served on the Syndicate Desk at SunTrust Robinson Humphrey in the Leveraged Finance group where he executed debt financings and provided advisory services across various industries. Mr. Mancuso graduated from the University of North Carolina at Wilmington with a B.S. in Business Administration with concentrations in Finance and Economics.Kevin Mansfield was a Senior Analyst in Ernst and Young’s Transaction Advisory Services practice and a staff accountant in the Assurance practice. Mr. Mansfield graduated cum laude from the University of South Carolina, where he received a B.S. in Business Administration with a degree in both Accounting and Finance. Mr. Mansfield is a Certified Public Accountant.About Capitala GroupCapitala Group is a $3.0 billion asset management firm that has been providing capital to lower middle market companies throughout North America for twenty years. Since our inception in 1998, Capitala has invested in over 160 companies and seeks to partner with strong management teams to create value and generate superior risk-adjusted returns for our individual and institutional investors. For more information, definitions and details visit our website at www.CapitalaGroup.com.Contacts: Steve Arnall COO | CFO  sarnall@capitalagroup.comKatina Cole Jakubowski Director of Marketing   kjakubowski@capitalagroup.com
Tue, 28 Jul 2020
16:32:04 +0000
Earnings Preview: Capitala Finance (CPTA) Q2 Earnings Expected to Decline
Capitala Finance (CPTA) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Tue, 14 Jul 2020
20:30:10 +0000
Capitala Finance Corp. Announces Portfolio Activity
CHARLOTTE, N.C., July 14, 2020 -- Capitala Finance Corp. (the “Company”, “our”, or “Capitala”) announced portfolio activity for the second quarter. During the second quarter.
Tue, 07 Jul 2020
20:30:10 +0000
Capitala Finance Corp. Schedules Second Quarter 2020 Earnings Release and Conference Call
CHARLOTTE, N.C., July 07, 2020 -- Capitala Finance Corp. (Nasdaq:CPTA) (the “Company”) announced today that it will report its second quarter 2020 financial results on Tuesday,.
Tue, 16 Jun 2020
12:03:34 +0000
Edited Transcript of CPTA.OQ earnings conference call or presentation 5-May-20 12:30pm GMT
Q1 2020 Capitala Finance Corp Earnings Call
Thu, 04 Jun 2020
22:42:45 +0000
Is Capitala Finance Corp (CPTA) A Good Stock To Buy?
Before we spend countless hours researching a company, we like to analyze what insiders, hedge funds and billionaire investors think of the stock first. This is a necessary first step in our investment process because our research has shown that the elite investors' consensus returns have been exceptional. In the following paragraphs, we find out […]
Tue, 05 May 2020
14:49:02 +0000
UPDATE: Capitala Finance Corp. Reports First Quarter 2020 Results
CHARLOTTE, N.C., May 05, 2020 -- Capitala Finance Corp. (NASDAQ:CPTA) ("Capitala", the “Company”, “we”, “us”, or “our”) today announced its financial results for the first.
Mon, 04 May 2020
23:35:11 +0000
Capitala Finance (CPTA) Reports Break-Even Earnings for Q1
Capitala Finance (CPTA) delivered earnings and revenue surprises of -100.00% and -30.29%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
Mon, 04 May 2020
20:30:10 +0000
Capitala Finance Corp. Reports First Quarter 2020 Results
CHARLOTTE, N.C., May 04, 2020 -- Capitala Finance Corp. (NASDAQ:CPTA) ("Capitala", the “Company”, “we”, “us”, or “our”) today announced its financial results for the first.

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Capitala Finance Corp (CPTA)