Company Quick10K Filing
BlackRock Capital Investment
10-Q 2020-03-31 Filed 2020-05-06
10-K 2019-12-31 Filed 2020-03-04
10-Q 2019-09-30 Filed 2019-10-30
10-Q 2019-06-30 Filed 2019-07-31
10-Q 2019-03-31 Filed 2019-05-01
10-K 2018-12-31 Filed 2019-03-06
10-Q 2018-09-30 Filed 2018-10-31
10-Q 2018-06-30 Filed 2018-08-01
10-Q 2018-03-31 Filed 2018-05-02
10-K 2017-12-31 Filed 2018-03-07
10-Q 2017-09-30 Filed 2017-11-08
10-Q 2017-06-30 Filed 2017-08-02
10-Q 2017-03-31 Filed 2017-05-03
10-K 2016-12-31 Filed 2017-03-08
10-Q 2016-09-30 Filed 2016-11-02
10-Q 2016-06-30 Filed 2016-07-27
10-Q 2016-03-31 Filed 2016-04-27
10-K 2015-12-31 Filed 2016-03-09
10-Q 2015-09-30 Filed 2015-11-04
10-Q 2015-06-30 Filed 2015-07-29
10-Q 2015-03-31 Filed 2015-04-30
10-K 2014-12-31 Filed 2015-03-05
10-Q 2014-09-30 Filed 2014-11-06
10-Q 2014-06-30 Filed 2014-07-31
10-Q 2014-03-31 Filed 2014-05-01
10-K 2013-12-31 Filed 2014-03-06
10-Q 2013-09-30 Filed 2013-11-07
10-Q 2013-06-30 Filed 2013-08-01
10-Q 2013-03-31 Filed 2013-05-02
10-K 2012-12-31 Filed 2013-03-07
10-Q 2012-09-30 Filed 2012-11-08
10-Q 2012-06-30 Filed 2012-08-02
10-Q 2012-03-31 Filed 2012-05-03
10-K 2011-12-31 Filed 2012-03-01
10-Q 2011-09-30 Filed 2011-11-03
10-Q 2011-06-30 Filed 2011-08-04
10-Q 2011-03-31 Filed 2011-05-09
10-K 2010-12-31 Filed 2011-03-08
10-Q 2010-09-30 Filed 2010-11-04
10-Q 2010-06-30 Filed 2010-08-05
10-Q 2010-03-31 Filed 2010-05-06
10-K 2009-12-31 Filed 2010-03-12
8-K 2020-05-01 Enter Agreement, Earnings, Shareholder Vote, Regulation FD, Exhibits
8-K 2020-04-16 Other Events, Exhibits
8-K 2020-04-16 Other Events, Exhibits
8-K 2020-03-31 Enter Agreement, Exhibits
8-K 2020-03-04 Earnings, Regulation FD, Exhibits
8-K 2019-11-27 Regulation FD
8-K 2019-10-29 Earnings, Regulation FD, Other Events, Exhibits
8-K 2019-08-30 Enter Agreement, Exhibits
8-K 2019-08-28 Regulation FD
8-K 2019-07-31 Earnings, Regulation FD, Exhibits
8-K 2019-06-06 Regulation FD
8-K 2019-05-08 Shareholder Vote
8-K 2019-05-03 Shareholder Vote
8-K 2019-05-01 Earnings, Regulation FD, Exhibits
8-K 2019-03-28 Regulation FD
8-K 2019-03-06 Earnings, Regulation FD, Exhibits
8-K 2018-12-06 Regulation FD
8-K 2018-10-31 Earnings, Regulation FD, Exhibits
8-K 2018-09-10 Regulation FD
8-K 2018-08-01 Earnings, Regulation FD, Exhibits
8-K 2018-05-31 Regulation FD
8-K 2018-05-11 Shareholder Vote
8-K 2018-05-04 Shareholder Vote
8-K 2018-05-02 Earnings, Regulation FD, Exhibits
8-K 2018-04-27 Officers, Amend Bylaw, Exhibits
8-K 2018-03-21 Regulation FD
8-K 2018-03-15 Enter Agreement, Exhibits
8-K 2018-03-06 Earnings, Regulation FD, Other Events, Exhibits
8-K 2018-01-17 Other Events

BKCC 10Q Quarterly Report

Part I.
Item 1.
Item 2.
Item 3.
Item 4.
Part II.
Item 1.
Item 1A.
Item 2.
Item 3.
Item 4.
Item 5.
Item 6.
Part I. Financial Information
Item 1. Consolidated Financial Statements
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II. Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 3. Defaults Upon Senior Securities
Item 4. Mine Safety Disclosures
Item 5. Other Information
Item 6. Exhibits.
EX-4.1 bkcc-ex41_55.htm
EX-31.1 bkcc-ex311_6.htm
EX-31.2 bkcc-ex312_8.htm
EX-32 bkcc-ex32_7.htm

BlackRock Capital Investment Earnings 2020-03-31

Balance SheetIncome StatementCash Flow

10-Q 1 bkcc-10q_20200331.htm 10-Q bkcc-10q_20200331.htm

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

FORM 10-Q

 

(Mark One)

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the quarterly period ended March 31, 2020

OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the transition period from                  to                 

Commission file number 814-00712

BLACKROCK CAPITAL INVESTMENT CORPORATION

(Exact Name of Registrant as Specified in Its Charter)

 

 

 

 

Delaware

20-2725151

(State or Other Jurisdiction of

Incorporation or Organization)

(I.R.S. Employer

Identification No.)

 

 

40 East 52nd Street, New York, NY

10022

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: 212-810-5800

 

      

 

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes      No  

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes      No  

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer     Accelerated filer     Non-Accelerated filer     

Smaller reporting company     Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes      No  

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

Trading symbol(s)

Name of each exchange on which registered

Common Stock, $0.001 par value

BKCC

NASDAQ Global Select Market

The number of shares of the Registrant’s common stock, $.001 par value per share, outstanding at May 6, 2020 was 68,139,955.

 

 

 


 

BLACKROCK CAPITAL INVESTMENT CORPORATION

FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2020

Table of Contents

 

 

INDEX

PAGE NO.

 

 

 

PART I.

FINANCIAL INFORMATION

 

 

 

 

Item 1.

CONSOLIDATED FINANCIAL STATEMENTS

3

 

 

 

 

Consolidated Statements of Assets and Liabilities as of March 31, 2020 and December 31,
2019 (unaudited)

3

 

 

 

 

Consolidated Statements of Operations for the three months ended March 31, 2020 and 2019 (unaudited)

4

 

 

 

 

Consolidated Statements of Changes in Net Assets for the three months ended March 31, 2020 and 2019 (unaudited)

5

 

 

 

 

Consolidated Statements of Cash Flows for the three months ended March 31, 2020 and
2019 (unaudited)

6

 

 

 

 

Consolidated Schedules of Investments as of March 31, 2020 and December 31, 2019 (unaudited)

7

 

 

 

 

Notes to Consolidated Financial Statements (unaudited)

22

 

 

 

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

44

 

 

 

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

52

 

 

 

Item 4.

Controls and Procedures

52

 

 

 

PART II.

OTHER INFORMATION

 

 

 

 

Item 1.

Legal Proceedings

53

 

 

 

Item 1A.

Risk Factors

53

 

 

 

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

54

 

 

 

Item 3.

Defaults Upon Senior Securities

54

 

 

 

Item 4.

Mine Safety Disclosures

54

 

 

 

Item 5.

Other Information

55

 

 

 

Item 6.

Exhibits

56

 

 

SIGNATURES

57

 

 

 

2


 

PART I. FINANCIAL INFORMATION

In this Quarterly Report, “Company”, “we”, “us” and “our” refer to BlackRock Capital Investment Corporation unless the context states otherwise.

Item 1. Consolidated Financial Statements

BlackRock Capital Investment Corporation

Consolidated Statements of Assets and Liabilities

(Unaudited)

 

 

 

March 31,

2020

 

 

December 31,

2019

 

Assets

 

 

 

 

 

 

 

 

Investments at fair value:

 

 

 

 

 

 

 

 

Non-controlled, non-affiliated investments (cost of $403,211,038 and $389,156,775)

 

$

364,178,726

 

 

$

377,136,394

 

Non-controlled, affiliated investments (cost of $64,329,264 and $65,825,475)

 

 

12,697,200

 

 

 

22,473,524

 

Controlled investments (cost of $386,676,602 and $400,561,551)

 

 

304,385,236

 

 

 

350,249,163

 

Total investments at fair value (cost of $854,216,904 and $855,543,801)

 

 

681,261,162

 

 

 

749,859,081

 

Cash and cash equivalents

 

 

2,286,143

 

 

 

14,678,878

 

Receivable for investments sold

 

 

703,635

 

 

 

1,871,435

 

Interest, dividends and fees receivable

 

 

5,344,432

 

 

 

5,708,324

 

Prepaid expenses and other assets

 

 

1,667,532

 

 

 

1,945,709

 

Total Assets

 

$

691,262,904

 

 

$

774,063,427

 

Liabilities

 

 

 

 

 

 

 

 

Debt (net of deferred financing costs of $2,064,873 and $2,298,004)

 

$

308,021,849

 

 

$

313,569,694

 

Interest and credit facility fees payable

 

 

2,463,333

 

 

 

757,472

 

Distributions payable

 

 

9,543,152

 

 

 

9,637,075

 

Base management fees payable

 

 

3,295,687

 

 

 

3,251,194

 

Incentive management fees payable

 

 

1,849,597

 

 

 

1,849,597

 

Payable for investments purchased

 

 

482,500

 

 

 

7,312,500

 

Accrued administrative services

 

 

313,561

 

 

 

372,407

 

Other accrued expenses and payables

 

 

2,048,668

 

 

 

1,704,507

 

Total Liabilities

 

 

328,018,347

 

 

 

338,454,446

 

Commitments and Contingencies (See Note 9)

 

 

 

 

 

 

 

 

Net Assets

 

 

 

 

 

 

 

 

Common stock, par value $.001 per share, 200,000,000 common shares authorized, 77,861,287 and 77,861,287 issued and 67,849,701 and 68,836,255 outstanding

 

 

77,861

 

 

 

77,861

 

Paid-in capital in excess of par

 

 

849,240,398

 

 

 

849,240,398

 

Distributable earnings (losses)

 

 

(419,776,843

)

 

 

(351,040,023

)

Treasury stock at cost, 10,011,586 and 9,025,032 shares held

 

 

(66,296,859

)

 

 

(62,669,255

)

Total Net Assets

 

 

363,244,557

 

 

 

435,608,981

 

Total Liabilities and Net Assets

 

$

691,262,904

 

 

$

774,063,427

 

Net Asset Value Per Share

 

$

5.35

 

 

$

6.33

 

 

The accompanying notes are an integral part of these consolidated financial statements.

 

3


 

BlackRock Capital Investment Corporation

Consolidated Statements of Operations

(Unaudited)

 

 

 

 

 

 

 

Three Months Ended

March 31, 2020

 

 

Three Months Ended

March 31, 2019

 

Investment Income:

 

 

 

 

 

 

 

 

Non-controlled, non-affiliated investments:

 

 

 

 

 

 

 

 

Cash interest income

 

$

8,121,923

 

 

$

5,942,016

 

PIK interest income

 

 

1,095,431

 

 

 

240,184

 

Fee income

 

 

46,167

 

 

 

475,407

 

Total investment income from non-controlled, non-affiliated investments

 

 

9,263,521

 

 

 

6,657,607

 

Non-controlled, affiliated investments:

 

 

 

 

 

 

 

 

Cash interest income

 

 

125,474

 

 

 

1,222,251

 

PIK interest income

 

 

108,831

 

 

 

PIK dividend income

 

 

 

 

 

220,480

 

Fee income

 

 

1,435

 

 

 

Total investment income from non-controlled, affiliated investments

 

 

235,740

 

 

 

1,442,731

 

Controlled investments:

 

 

 

 

 

 

 

 

Cash interest income

 

 

5,415,835

 

 

 

6,900,738

 

PIK interest income

 

 

873,508

 

 

 

Cash dividend income

 

 

2,907,503

 

 

 

4,191,703

 

Fee income

 

 

3,187

 

 

 

121,862

 

Total investment income from controlled investments

 

 

9,200,033

 

 

 

11,214,303

 

Total investment income

 

 

18,699,294

 

 

 

19,314,641

 

Expenses:

 

 

 

 

 

 

 

 

Base management fees

 

 

3,295,687

 

 

 

2,923,149

 

Incentive management fees

 

 

1,924,398

 

 

 

2,280,836

 

Interest and credit facility fees

 

 

4,212,274

 

 

 

3,392,434

 

Professional fees

 

 

525,012

 

 

 

473,043

 

Administrative services

 

 

313,561

 

 

 

363,305

 

Director fees

 

 

184,750

 

 

 

193,000

 

Investment advisor expenses

 

 

87,500

 

 

 

87,500

 

Other

 

 

458,523

 

 

 

478,029

 

Total expenses, before incentive management fee waiver

 

 

11,001,705

 

 

 

10,191,296

 

Incentive management fee waiver (See Note 3)

 

 

(1,924,398

)

 

 

(2,280,836

)

Expenses, net of incentive management fee waiver

 

 

9,077,307

 

 

 

7,910,460

 

Net Investment Income

 

 

9,621,987

 

 

 

11,404,181

 

Realized and Unrealized Gain (Loss):

 

 

 

 

 

 

 

 

Net realized gain (loss):

 

 

 

 

 

 

 

 

Non-controlled, non-affiliated investments

 

 

5,485

 

 

 

325,489

 

Non-controlled, affiliated investments

 

 

(1,535,092

)

 

 

(269,226

)

Net realized gain (loss)

 

 

(1,529,607

)

 

 

56,263

 

Net change in unrealized appreciation (depreciation) on:

 

 

 

 

 

 

 

 

Non-controlled, non-affiliated investments

 

 

(27,026,956

)

 

 

(2,684,053

)

Non-controlled, affiliated investments

 

 

(8,280,114

)

 

 

4,560,914

 

Controlled investments

 

 

(31,402,329

)

 

 

4,497,067

 

Foreign currency translation

 

 

(576,649

)

 

 

134,330

 

Net change in unrealized appreciation (depreciation)

 

 

(67,286,048

)

 

 

6,508,258

 

Net realized and unrealized gain (loss)

 

 

(68,815,655

)

 

 

6,564,521

 

Net Increase (Decrease) in Net Assets Resulting from Operations

 

$

(59,193,668

)

 

$

17,968,702

 

Net Investment Income Per Share—basic

 

$

0.14

 

 

$

0.17

 

Earnings (Loss) Per Share—basic

 

$

(0.86

)

 

$

0.26

 

Average Shares Outstanding—basic

 

 

68,613,956

 

 

 

68,837,612

 

Net Investment Income Per Share—diluted

 

$

0.14

 

 

$

0.16

 

Earnings (Loss) Per Share—diluted

 

$

(0.86

)

 

$

0.24

 

Average Shares Outstanding—diluted (See Note 4)

 

 

85,607,693

 

 

 

85,831,349

 

Distributions Declared Per Share

 

$

0.14

 

 

$

0.18

 

 

The accompanying notes are an integral part of these consolidated financial statements.

 

4


 

BlackRock Capital Investment Corporation

Consolidated Statements of Changes in Net Assets

(Unaudited)

 

 

 

Three Months Ended

 

 

 

March 31, 2020

 

 

March 31, 2019

 

Net Assets at December 31

 

$

435,608,981

 

 

$

487,020,154

 

Net Increase (Decrease) in Net Assets Resulting from Operations:

 

 

 

 

 

 

 

 

Net investment income

 

 

9,621,987

 

 

 

11,404,181

 

Net realized gain (loss)

 

 

(1,529,607

)

 

 

56,263

 

Net change in unrealized appreciation (depreciation) before taxes

 

 

(67,286,048

)

 

 

6,508,258

 

Net increase (decrease) in net assets resulting from operations

 

 

(59,193,668

)

 

 

17,968,702

 

Distributions to Stockholders from(1):

 

 

 

 

 

 

 

 

Net investment income

 

 

(9,543,152

)

 

 

(12,390,525

)

Capital Share Transactions:

 

 

 

 

 

 

 

 

Purchases of treasury stock

 

 

(3,627,604

)

 

 

(469,227

)

Net increase (decrease) in net assets resulting from capital share transactions

 

 

(3,627,604

)

 

 

(469,227

)

Total Increase (Decrease) in Net Assets

 

 

(72,364,424

)

 

 

5,108,950

 

Net Assets at March 31

 

$

363,244,557

 

 

$

492,129,104

 

Capital Share Activity:

 

 

 

 

 

 

 

 

Purchases of treasury stock

 

 

(986,554

)

 

 

(85,543

)

Net increase (decrease) in shares outstanding

 

 

(986,554

)

 

 

(85,543

)

 

(1)

Sources of distribution to stockholders will be adjusted on an annual basis, if necessary, and calculated in accordance with federal income tax regulations.

The accompanying notes are an integral part of these consolidated financial statements.

 

5


 

BlackRock Capital Investment Corporation

Consolidated Statements of Cash Flows

(Unaudited)

 

 

 

Three Months Ended

 

 

 

March 31, 2020

 

 

March 31, 2019

 

Operating Activities:

 

 

 

 

 

 

 

 

Net increase (decrease) in net assets resulting from operations

 

$

(59,193,668

)

 

$

17,968,702

 

Adjustments to reconcile net increase (decrease) in net assets resulting from operations:

 

 

 

 

 

 

 

 

PIK interest, dividends and fees

 

 

(2,077,770

)

 

 

(460,664

)

Net amortization on investments

 

 

(190,304

)

 

 

(164,987

)

Amortization of debt issuance costs and discount

 

 

618,650

 

 

 

602,286

 

Net change in unrealized (appreciation) depreciation on investments

 

 

66,709,399

 

 

 

(6,373,928

)

Net change in unrealized (appreciation) depreciation on foreign currency translation

 

 

576,649

 

 

 

(134,330

)

Net realized (gain) loss on investments

 

 

1,529,607

 

 

 

(56,263

)

Changes in operating assets:

 

 

 

 

 

 

 

 

Purchase of investments

 

 

(35,542,803

)

 

 

(57,790,703

)

Proceeds from disposition of investments

 

 

37,255,503

 

 

 

55,679,170

 

Change in receivable for investments sold

 

 

1,167,800

 

 

 

 

Change in interest, dividends and fees receivable

 

 

701,529

 

 

 

(5,621,325

)

Change in prepaid expenses and other assets

 

 

111,681

 

 

 

173,405

 

Changes in operating liabilities:

 

 

 

 

 

 

 

 

Change in payable for investments purchased

 

 

(6,830,000

)

 

 

(989,460

)

Change in interest and credit facility fees payable

 

 

1,705,861

 

 

 

1,853,414

 

Change in base management fees payable

 

 

44,493

 

 

 

(571,371

)

Change in accrued administrative services

 

 

(58,846

)

 

 

363,305

 

Change in other accrued expenses and payables

 

 

344,163

 

 

 

153,885

 

Net cash provided by (used in) operating activities

 

 

6,871,944

 

 

 

4,631,136

 

Financing Activities:

 

 

 

 

 

 

 

 

Distributions paid in cash

 

 

(9,637,075

)

 

 

(12,552,214

)

Proceeds from debt

 

 

50,000,000

 

 

 

55,000,000

 

Repayments of debt

 

 

(56,000,000

)

 

 

(33,000,000

)

Purchase of treasury stock

 

 

(3,627,604

)

 

 

(469,227

)

Net cash provided by (used in) financing activities

 

 

(19,264,679

)

 

 

8,978,559

 

Net increase (decrease) in cash and cash equivalents

 

 

(12,392,735

)

 

 

13,609,695

 

Cash and cash equivalents, beginning of period

 

 

14,678,878

 

 

 

13,497,320

 

Cash and cash equivalents, end of period

 

$

2,286,143

 

 

$

27,107,015

 

Supplemental disclosure of cash flow information and non-cash financing activities:

 

 

 

 

 

 

 

 

Cash paid during period for:

 

 

 

 

 

 

 

 

Interest

 

$

1,684,343

 

 

$

622,776

 

Taxes

 

$

28,050

 

 

$

6,395

 

Share issuance — distribution reinvestment

 

$

 

 

$

 

 

The accompanying notes are an integral part of these consolidated financial statements.

 

6


 

BlackRock Capital Investment Corporation

Consolidated Schedules of Investments

March 31, 2020

(Unaudited)

 

Portfolio Company(r)

 

Industry(t)

 

Interest Rate

 

 

Maturity

 

Principal Amount or Number of

Shares/Units

 

 

Cost(a)

 

 

Fair

Value(b)

 

Senior Secured Notes—0.14%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advanced Lighting Technologies, LLC, Second Lien(d)(f)(j)(u)

 

Electrical Equipment

 

18.87% (L + 1700, 1.00% Floor PIK)

 

 

10/4/23

 

$

8,525,898

 

 

$

2,181,306

 

 

$

 

AGY Holding Corp., Second Lien(d)(g)(j)(u)

 

Chemicals

 

11.00% PIK

 

 

11/15/25

 

 

26,959,923

 

 

 

24,503,088

 

 

 

512,239

 

Total Senior Secured Notes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

26,684,394

 

 

 

512,239

 

Unsecured Debt—33.80%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CB-HDT Holdings, Inc.(d)(j)

 

Aerospace & Defense

 

12.00% PIK

 

 

3/6/21

 

 

9,120,639

 

 

 

9,120,639

 

 

 

9,120,639

 

Gordon Brothers Finance Company(g)(p)

 

Diversified Financial Services

 

12.36% (L + 1100, 1.00% Floor)

 

 

10/31/21

 

 

113,650,416

 

 

 

113,650,416

 

 

 

113,650,416

 

Total Unsecured Debt

 

 

 

 

 

 

 

 

 

 

 

 

 

 

122,771,055

 

 

 

122,771,055

 

Subordinated Debt—9.49%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

First Boston Construction Holdings, LLC(d)(g)(k)

 

Thrifts & Mortgage Finance

 

12.00%

 

 

2/23/23

 

 

36,975,000

 

 

 

36,975,000

 

 

 

34,479,092

 

Total Subordinated Debt

 

 

 

 

 

 

 

 

 

 

 

 

 

 

36,975,000

 

 

 

34,479,092

 

Senior Secured Loans—112.28%(e)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advanced Lighting Technologies, LLC, First Lien(f)

 

Electrical Equipment

 

9.37% (L + 750, 1.00% Floor)

 

 

10/4/22

 

 

5,076,022

 

 

 

5,023,510

 

 

 

3,654,737

 

AGY Holding Corp., First Lien(d)(g)

 

Chemicals

 

12.00% PIK

 

 

9/15/20

 

 

26,282,814

 

 

 

26,282,814

 

 

 

26,282,814

 

AGY Holding Corp., First Lien Incremental(d)(g)

 

Chemicals

 

12.00% PIK

 

 

9/15/20

 

 

1,011,078

 

 

 

909,970

 

 

 

1,011,078

 

AGY Holding Corp., Delayed Draw Term Loan(d)(g)

 

Chemicals

 

12.00% PIK

 

 

9/15/20

 

 

4,835,008

 

 

 

4,645,431

 

 

 

4,835,008

 

AmeriLife Holdings, LLC, Second Lien

 

Insurance

 

9.50% (L + 850, 1.00% Floor)

 

 

3/18/28

 

 

6,697,322

 

 

 

6,563,547

 

 

 

6,563,375

 

Aretec Group, Inc., Second Lien

 

Diversified Financial Services

 

9.24% (L+ 825)

 

 

10/1/26

 

 

3,563,440

 

 

 

3,521,369

 

 

 

2,494,408

 

Barri Financial Group, LLC, First Lien

 

Consumer Finance

 

8.79% (L + 775, 1.00% Floor)

 

 

10/23/24

 

 

9,081,456

 

 

 

8,869,304

 

 

 

8,654,628

 

Bluefin Holding, LLC, Second Lien

 

Software

 

8.75% (L+ 775)

 

 

9/6/27

 

 

7,309,535

 

 

 

7,205,970

 

 

 

6,680,915

 

Cambrex Corporation, Second Lien

 

Pharmaceuticals

 

10.00% (L+ 900, 1.00% Floor)

 

 

12/6/27

 

 

11,903,098

 

 

 

11,673,321

 

 

 

9,820,056

 

CareATC, Inc., First Lien

 

Health Care Technology

 

8.25% (L + 725, 1.00% Floor)

 

 

3/14/24

 

 

4,733,036

 

 

 

4,657,225

 

 

 

4,576,846

 

CareATC, Inc., Revolving Term Loan

 

Health Care Technology

 

8.47% (L + 725, 1.00% Floor)

 

 

3/14/24

 

 

338,074

 

 

 

332,614

 

 

 

326,918

 

Diamondback Acquisition, Inc. et al, First Lien

 

Energy Equipment & Services

 

10.31% (L + 881, 1.00% Floor)

 

 

6/14/22

 

 

13,649,615

 

 

 

13,451,787

 

 

 

13,322,024

 

Dude Solutions Holdings Inc., First Lien

 

Professional Services

 

8.57% (L + 750, 1.00% Floor)

 

 

6/13/25

 

 

9,345,183

 

 

 

9,157,167

 

 

 

8,915,304

 

Dude Solutions Holdings Inc., Revolving Term Loan(v)

 

Professional Services

 

8.57% (L + 750, 1.00% Floor)

 

 

6/13/25

 

 

325,050

 

 

 

301,185

 

 

 

268,979

 

ECI Macola/Max Holding, LLC, Second Lien

 

Diversified Telecommunication Services

 

9.45% (L + 800, 1.00% Floor)

 

 

9/29/25

 

 

5,125,000

 

 

 

5,070,982

 

 

 

4,884,125

 

FinancialForce.com, First Lien

 

Internet Software & Services

 

9.50% (L + 675, 2.75% Floor)

 

 

2/1/24

 

 

10,000,000

 

 

 

9,842,831

 

 

 

10,110,000

 

GlobalTranz Enterprises LLC, Second Lien

 

Road & Rail

 

9.18% (L + 825)

 

 

5/15/27

 

 

10,808,429

 

 

 

10,612,891

 

 

 

9,630,310

 

Juul Labs, Inc., First Lien(d)

 

Tobacco Related

 

11.25% (L + 800, 1.50% Floor Cash / 1.50% PIK)

 

 

8/2/23

 

 

13,177,083

 

 

 

13,065,226

 

 

 

12,913,542

 

Kaseya Traverse Inc., First Lien(d)

 

Software

 

8.91% (L + 400, 1.00% Floor Cash / 3.00% PIK)

 

 

5/3/25

 

 

8,029,875

 

 

 

7,892,730

 

 

 

7,676,560

 

Kaseya Traverse Inc., Delayed Draw Term Loan(d)(v)

 

Software

 

8.91% (L + 400, 1.00% Floor Cash / 3.00% PIK)

 

 

5/3/25

 

 

125,455

 

 

 

116,839

 

 

 

83,152

 

Kaseya Traverse Inc., Revolving Term Loan(v)

 

Software

 

7.50% (L + 650, 1.00% Floor)

 

 

5/3/25

 

 

665,904

 

 

 

654,390

 

 

 

636,308

 

The accompanying notes are an integral part of these consolidated financial statements.

 

7


 

BlackRock Capital Investment Corporation

Consolidated Schedules of Investments—(Continued)

March 31, 2020  

(Unaudited)

 

Portfolio Company(r)

 

Industry(t)

 

Interest Rate

 

 

Maturity

 

Principal Amount or Number of

Shares/Units

 

 

Cost(a)

 

 

Fair

Value(b)

 

Kellermeyer Bergensons Services, LLC, First Lien

 

Commercial Services & Supplies

 

8.24% (L + 650, 1.00% Floor)

 

 

11/7/26

 

$

1,629,902

 

 

$