Solar Capital Ltd. Buyback
OLI recorded this information on 10/7/2015
Company:
Solar Capital Ltd.
Buyback:
SLRC buyback
$Amount Authorized:
$30,000,000
Buyback Details:
Solar Capital Ltd. (the "Company") (NASDAQ: SLRC) announced today that its board of directors has authorized a new program for the purpose of repurchasing up to $30 million worth of its common stock. Under the repurchase program, the Company may, but is not obligated to, repurchase its outstanding common stock in the open market from time to time provided that the Company complies with the prohibitions under its Insider Trading Policies and Procedures and the guidelines specified in Rule 10b-18 of the Securities Exchange Act of 1934, as amended, including certain price, market volume and timing constraints. Unless amended or extended by the Company's board of directors, the Company expects the repurchase program to be in place until the earlier of October 7, 2016 or until $30 million of the Company's outstanding shares of common stock have been repurchased.
Solar Capital is a closed-end, externally managed, non-diversified management investment company. Co.'s investment objective is to generate both income and capital appreciation through debt and equity investments. Co. invests primarily in middle-market companies in the form of senior secured loans, stretch-senior loans, unitranche loans, mezzanine loans and equity securities. In addition, Co. invests a portion of its portfolio in other types of investments, which include, but are not limited to, direct investments in public companies that are not traded and securities of companies located in select countries outside of the U.S.
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Avg. Broker Rec.
  
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Hold (2.11 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Analysts' Target Price: SLRC Stock Forecast Based on Zacks ABR data; powered by Xignite |
