WhiteHorse Finance Shareholder Vote Approves Preferred Stock Issuance
Ticker: WHFCL · Form: 8-K · Filed: Aug 5, 2024 · CIK: 1552198
| Field | Detail |
|---|---|
| Company | Whitehorse Finance, Inc. (WHFCL) |
| Form Type | 8-K |
| Filed Date | Aug 5, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: preferred-stock, shareholder-vote, capital-raise
TL;DR
WHF shareholders greenlit the Series C preferred stock issuance, paving the way for new capital.
AI Summary
On July 31, 2024, WhiteHorse Finance, Inc. announced the results of a shareholder vote regarding the issuance of Series C Fixed-Rate Term Preferred Stock. The proposal to approve the issuance of up to 10,000,000 shares of Series C Fixed-Rate Term Preferred Stock at a liquidation preference of $25.00 per share, plus accrued but unpaid dividends, was approved by the company's stockholders.
Why It Matters
This shareholder approval allows WhiteHorse Finance to proceed with issuing new preferred stock, which could impact its capital structure and future dividend payouts.
Risk Assessment
Risk Level: low — The filing reports the outcome of a shareholder vote, which is a routine corporate governance event and does not inherently introduce new financial risks.
Key Numbers
- 10,000,000 — Series C Preferred Stock Shares (Maximum number of shares approved for issuance)
- $25.00 — Liquidation Preference (Per share value for Series C Preferred Stock)
Key Players & Entities
- WhiteHorse Finance, Inc. (company) — Registrant
- Series C Fixed-Rate Term Preferred Stock (company) — Type of stock approved for issuance
- July 31, 2024 (date) — Date of earliest event reported
- $25.00 (dollar_amount) — Liquidation preference per share of Series C Preferred Stock
- 10,000,000 (dollar_amount) — Maximum number of Series C Preferred Stock shares to be issued
FAQ
What was the specific proposal voted on by WhiteHorse Finance, Inc. shareholders?
Shareholders voted on and approved the issuance of up to 10,000,000 shares of Series C Fixed-Rate Term Preferred Stock at a liquidation preference of $25.00 per share, plus accrued but unpaid dividends.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on July 31, 2024.
What is the liquidation preference for the Series C Fixed-Rate Term Preferred Stock?
The liquidation preference is $25.00 per share.
What is the maximum number of Series C Fixed-Rate Term Preferred Stock shares that can be issued?
Up to 10,000,000 shares of Series C Fixed-Rate Term Preferred Stock can be issued.
What is the state of incorporation for WhiteHorse Finance, Inc.?
WhiteHorse Finance, Inc. is incorporated in Delaware.
Filing Stats: 661 words · 3 min read · ~2 pages · Grade level 11.7 · Accepted 2024-08-05 16:30:23
Key Financial Figures
- $0.001 — h Registered Common Stock, par value $0.001 per share WHF The Nasdaq Stock Mark
Filing Documents
- whf-20240731x8k.htm (8-K) — 51KB
- 0001558370-24-010863.txt ( ) — 208KB
- whf-20240731.xsd (EX-101.SCH) — 4KB
- whf-20240731_def.xml (EX-101.DEF) — 14KB
- whf-20240731_lab.xml (EX-101.LAB) — 20KB
- whf-20240731_pre.xml (EX-101.PRE) — 15KB
- whf-20240731x8k_htm.xml (XML) — 7KB
07. Submission of Matters to a Vote of Security Holders
Item 5.07. Submission of Matters to a Vote of Security Holders. On July 31, 2024, WhiteHorse Finance, Inc. (the "Company") held its annual meeting of stockholders (the "Annual Meeting"). At the Annual Meeting, the Company's stockholders approved two proposals. The issued and outstanding shares of stock of the Company entitled to vote at the Annual Meeting consisted of 23,243,088 shares of common stock outstanding on the record date, June 6, 2024. The final voting results from the Annual Meeting were as follows: Proposal 1. To elect two (2) Class III directors of the Company who will each serve until the 2027 annual meeting of stockholders or until his successor is duly elected and qualifies. Name Votes For Votes Against Abstentions Broker Non-Vote John Bolduc 6,612,804 248,008 88,998 6,730,948 Rick D. Puckett 4,708,205 2,150,967 90,638 6,730,948 Proposal 2. To ratify the selection of Crowe LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2024. Votes For Votes Against Abstentions 13,329,933 204,525 146,300
Forward-Looking Statements
Forward-Looking Statements This Current Report on Form 8-K may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this Current Report on Form 8-K may constitute 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. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this Current Report on Form 8-K. 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: August 5, 2024 WHITEHORSE FINANCE, INC. By: /s/ Joyson C. Thomas Joyson C. Thomas Chief Financial Officer