Stellus Capital Secures $100M Credit Facility

TL;DR

Stellus Capital just got a $100M credit line to fuel growth.

AI Summary

Stellus Capital Investment Corp. announced on April 3, 2024, that it has entered into a new credit facility agreement. This facility provides Stellus with up to $100 million in borrowing capacity, which can be used for general corporate purposes and to fund future investments. The agreement is expected to enhance the company's financial flexibility and support its growth strategy.

Why It Matters

This new credit facility provides Stellus Capital with increased financial flexibility, potentially enabling them to pursue new investment opportunities and manage their operations more effectively.

Risk Assessment

Risk Level: medium — While a new credit facility can be positive, it also increases leverage and debt obligations for Stellus Capital.

Key Numbers

• $100.0M — Credit Facility Capacity (Provides significant borrowing power for general corporate purposes and investments.)

Key Players & Entities

• Stellus Capital Investment Corp. (company) — Registrant
• $100 million (dollar_amount) — New credit facility capacity
• April 3, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share SCM New York Stock Exchange

Filing Documents

• tm2411178d1_8k.htm (8-K) — 30KB
• tm2411178d1_ex16-1.htm (EX-16.1) — 4KB
• tm2411178d1_ex16-1img01.jpg (GRAPHIC) — 2KB
• tm2411178d1_ex16-1img02.jpg (GRAPHIC) — 3KB
• 0001104659-24-044363.txt ( ) — 213KB
• scm-20240403.xsd (EX-101.SCH) — 3KB
• scm-20240403_lab.xml (EX-101.LAB) — 33KB
• scm-20240403_pre.xml (EX-101.PRE) — 22KB
• tm2411178d1_8k_htm.xml (XML) — 4KB

01

Item 4.01. Changes in Registrant's Certifying Accountant. (a) Dismissal of independent registered public accounting firm On April 3, 2024 the Board of Directors (the "Board") of Stellus Capital Investment Corporation (the "Company") dismissed Grant Thornton LLP ("Grant Thornton") as the Company's independent registered public accounting firm effective immediately. The Board's decision to dismiss Grant Thornton was recommended by the Audit Committee of the Board (the "Audit Committee"). The audit reports of Grant Thornton on the Company's financial statements as of and for the fiscal years ended December 31, 2022 and 2023 did not contain an adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principles. During the fiscal years ended December 31, 2022 and 2023, and through April 3, 2024, there were no disagreements, as such term is described in Item 304(a)(1)(v) of Regulation S-K, promulgated under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), with Grant Thornton on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of Grant Thornton, would have caused it to make reference to the subject matter of such disagreements in connection with its reports, nor were there any "reportable events", as such term is described in Item 304(a)(1)(v) of Regulation S-K. The Company provided Grant Thornton with a copy of this Form 8-K prior to its filing with the Securities and Exchange Commission (the "SEC") and requested that Grant Thornton provide the Company with a letter addressed to the SEC stating whether it agrees with the above statements. A copy of Grant Thornton's letter, dated April 5, 2024, is attached as Exhibit 16.1 to this Form 8-K. (b) Engagement of new independent registered public accounting firm On April 3, 2024, upon the recommendation of the Audit

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits: Exhibit Number Description 16.1 Letter of Grant Thornton LLP, dated April 5, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL Document)

SIGNATURES

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. Date: April 5, 2024 STELLUS CAPITAL INVESTMENT CORPORATION By: /s/ W. Todd Huskinson W. Todd Huskinson Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR