SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): January 13, 2021
FIRST EAGLE ALTERNATIVE CAPITAL BDC, INC.
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of
incorporation or organization)
500 Boylston St., Suite 1200,
Boston, MA 02116
(Address of principal executive offices)
Registrants telephone number, including area code (800) 450-4424
Securities registered pursuant to 12(b) of the Act:
Title of Each Class
Name of Each Exchange
on Which Registered
|Common Stock, par value $0.001 per share||FCRD||NASDAQ Global Select Market|
|6.75% Senior Notes due 2022||FCRZ||The New York Stock Exchange|
|6.125% Senior Notes due 2023||FCRW||The New York Stock Exchange|
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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. ☐
|Item 5.02.|| |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 13, 2021, Terrence W. Olson, Chief Financial Officer, Chief Operating Officer, Assistant Secretary and Treasurer of First Eagle Alternative Capital BDC, Inc. (the Company), notified the Company that he intends to retire on June 30, 2021 from the Company and the Companys investment adviser First Eagle Alternative Credit, LLC (the Adviser). A search process has been initiated to identify his replacement.
|Item 7.01|| |
Regulation FD Disclosure.
On January 20, 2021, the Company issued a press release, included herewith as Exhibit 99.1, announcing Terrence W. Olsons intent to retire from the Company and the Adviser effective June 30, 2021 and the Companys search for his replacement.
The information disclosed under this Item 7.01, including Exhibit 99.1, is being furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934 and shall not be deemed incorporated by reference into any filing made under the Securities Act of 1933, except as expressly set forth by specific reference in such filing.
|Item 9.01.|| |
Financial Statements and Exhibits.
|Press Release, dated January 20, 2021|
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.
FIRST EAGLE ALTERNATIVE CAPITAL BDC, INC.
|Date: January 20, 2021||By:||/s/ TERRENCE W. OLSON|
|Terrence W. Olson|
Chief Financial Officer, Chief
Operating Officer & Treasurer
First Eagle Alternative Credit
COO & CFO Terry Olson to Retire
BOSTON, January 20, 2021First Eagle Alternative Credit, LLC today announced that Terry Olson, chief operating officer and chief financial officer, has elected to retire effective June 30, 2021. The Company will implement a plan that includes a search to identify a replacement CFO and transition of Olsons operating responsibilities.
On behalf of everyone at First Eagle, I extend our heartfelt gratitude to Terry for his many years of service and important contributions to our growth and success, said Chris Flynn, President of First Eagle Alternative Credit. He has helped make us a better business, a more cohesive team, and played a vital role as we joined forces with First Eagle over the last year. We appreciate his commitment to assuring a seamless transition to his successor and wish him well in the future.
Olson joined THL Credit Advisors in February 2008, and over the years played a central role in leading the financial and operations teams, as well as guiding key strategic initiatives of the firm. He serves on the investment committee of the firms Direct Lending platform and as the CFO for First Eagle Alternative Capial BDC, Inc. (NASDAQ: FCRD). First Eagle Investment Management, LLC completed the acquisition of THL Credit Advisors, LLC in January 2020, and subsequently changed the name of the new credit business to First Eagle Alternative Credit, LLC.
We are extremely proud of the accomplishments over the years as we have grown this business organically and through acquisition, and the work we do every day to deliver results for our investors, said Olson. Im grateful for the opportunity to have been part of a terrific executive team and am confident First Eagle Alternative Credit will continue to grow and thrive as a leading global credit platform under Chris leadership.
Olson began his career at PricewaterhouseCoopers, providing services to public and private companies in the financial services and technology sectors for nearly 10 years. He then spent a decade at Highland Capital Partners, a Cambridge, MA-based venture capital firm where he was responsible for financial, tax and operational matters for Highlands funds.
About First Eagle Alternative Credit, LLC
First Eagle Alternative Credit ( https://www.feac.com/) is an alternative credit investment manager for both direct lending and broadly syndicated investments through public and private vehicles, collateralized loan obligations, separately managed accounts and co-mingled funds. First Eagle Alternative Credit maintains a variety of advisory and sub-advisory relationships across its investment platforms. First Eagle Alternative Credit is a wholly owned subsidiary of First Eagle Investment Management, LLC.
Statements made in this press release may constitute forward-looking statements. Such statements reflect various assumptions by the Company concerning anticipated results and are not guarantees of future performance. The accuracy of such statements involves known and unknown risks, uncertainties and other factors that, in some ways, are beyond managements control, including the factors described from time to time in filings by the Company with the Securities and Exchange Commission. The Company undertakes no duty to update any forward-looking statements made herein. All forward-looking statements speak only as of the date of this press release.