PFLT Relocates Principal Executive Offices to Miami Beach

TL;DR

**PFLT moved its main office to Miami Beach, watch for bigger changes.**

AI Summary

PennantPark Floating Rate Capital Ltd. (PFLT) filed an 8-K on January 12, 2024, to update its principal executive offices from 590 Madison Avenue, New York, NY to 1691 Michigan Avenue, Miami Beach, Florida. This change in address, while seemingly minor, could signal a strategic shift or operational restructuring for the company. Investors should monitor future filings for any related announcements that might impact the company's operations or financial performance.

Why It Matters

A change in a company's principal executive office can sometimes precede or accompany broader strategic shifts, operational changes, or cost-saving initiatives, which could affect investor sentiment and future performance.

Risk Assessment

Risk Level: low — The filing primarily reports a change of address, which is generally a low-risk event unless it's tied to other undisclosed significant corporate actions.

Analyst Insight

Investors should monitor future filings and company announcements from PFLT for any strategic implications or operational changes that might be associated with this relocation, as a change in headquarters can sometimes signal broader corporate shifts.

Key Players & Entities

• PennantPark Floating Rate Capital Ltd. (company) — the registrant filing the 8-K
• PFLT (company) — trading symbol for PennantPark Floating Rate Capital Ltd.
• New York Stock Exchange (company) — exchange where PFLT common stock is registered
• 590 Madison Avenue, 15th Floor, New York, NY 10022 (dollar_amount) — former business address
• 1691 Michigan Avenue, Miami Beach, Florida 33139 (dollar_amount) — new principal executive offices address

Forward-Looking Statements

• PennantPark Floating Rate Capital Ltd. may announce further operational changes or strategic initiatives following its relocation to Miami Beach. (PennantPark Floating Rate Capital Ltd.) — medium confidence, target: 2024-07-12

FAQ

Key Financial Figures

• $0.001 — ch Registered Common Stock, par value $0.001 per share PFLT The New York Stock Exc
• $11.17 — e per share was estimated to be between $11.17 and $11.22 per common share at December
• $11.22 — was estimated to be between $11.17 and $11.22 per common share at December 31, 2023.
• $11.13 — o a net asset value per common share of $11.13 at September 30, 2023. - Net investm
• $0.32 — ment income was estimated to be between $0.32 and $0.34 per common share for the quar
• $0.34 — e was estimated to be between $0.32 and $0.34 per common share for the quarter ended
• $260.9 million — at cost, the Company had approximately $260.9 million of borrowings outstanding under the Cre
• $185.0 million — outstanding under the Credit Facility, $185.0 million in aggregate principal amount of 4.25%
• $228.0 million — of 4.25% Notes due 2026 outstanding and $228.0 million in aggregate principal amount of asset-
• $75.8 million — December 31, 2023, we had approximately $75.8 million in cash and approximately $125.1 millio
• $125.1 million — $75.8 million in cash and approximately $125.1 million in unused capacity under our credit fac

Filing Documents

• f8k_011224.htm (8-K) — 28KB
• 0001171843-24-000243.txt ( ) — 197KB
• pflt-20240112.xsd (EX-101.SCH) — 3KB
• pflt-20240112_lab.xml (EX-101.LAB) — 33KB
• pflt-20240112_pre.xml (EX-101.PRE) — 22KB
• f8k_011224_htm.xml (XML) — 3KB

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition Preliminary Estimates of Results as of December 31, 2023 On January 12, 2024, PennantPark Floating Rate Capital Ltd. (the "Company") announced certain preliminary estimates of its financial results for the quarter ended December 31, 2023. - Net asset value per share was estimated to be between $11.17 and $11.22 per common share at December 31, 2023. This compares to a net asset value per common share of $11.13 at September 30, 2023. - Net investment income was estimated to be between $0.32 and $0.34 per common share for the quarter ended December 31, 2023. This compares to net investment income of $0.32 per common share for the quarter ended September 30, 2023. - Core net investment income (1) was estimated to be between $0.32 and $0.34 per common share for the quarter ended December 31, 2023. This compares to core net investment income of $0.32 per common share for the quarter ended September 30, 2023. - Two loans were removed from non-accrual status in the quarter resulting in one loan currently on non-accrual making up 0.1% of the portfolio at cost and 0.0% at fair market value for the quarter ended December 31, 2023. - As of December 31, 2023, at cost, the Company had approximately $260.9 million of borrowings outstanding under the Credit Facility, $185.0 million in aggregate principal amount of 4.25% Notes due 2026 outstanding and $228.0 million in aggregate principal amount of asset-backed debt consisting of various notes due in 2031. - At December 31, 2023, we had approximately $75.8 million in cash and approximately $125.1 million in unused capacity under our credit facility. These estimates are subject to the completion of the Company's financial closing procedures and are not a comprehensive statement of the Company's financial position, results of operations or cash flows for the quarter ended December 31, 2023. Final results may differ materially from these estimates as a resu

Forward-Looking Statements

Forward-Looking Statements This report on Form 8-K may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. You should understand that under Section 27A(b)(2)(B) of the Securities Act and Section 21E(b)(2)(B) of the Exchange Act the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 do not apply to forward-looking statements made in periodic reports PennantPark Floating Rate Capital Ltd. files under the Exchange Act. All statements other than statements of historical facts included in this press release are forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. 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 filings with the Securities and Exchange Commission. PennantPark Floating Rate Capital Ltd. undertakes no duty to update any forward-looking statement made herein. You should not place undue influence on such forward-looking statements as such statements speak only as of the date on which they are made.

01 Other Information

Item 8.01 Other Information The information set forth under Item 2.02 above is incorporated herein by reference. SIGNATURE 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. Dated: January 12, 2024 PENNANTPARK FLOATING RATE CAPITAL LTD. By: /s/ Richard T. Allorto, Jr. Richard T. Allorto, Jr. Chief Financial Officer & Treasurer

View Full Filing

View this 8-K filing on SEC EDGAR