Welcome to our dedicated page for Capital Southwest news (Ticker: CSWC), a resource for investors and traders seeking the latest updates and insights on Capital Southwest stock.
Capital Southwest Corporation (CSWC) is an internally managed business development company listed on Nasdaq and based in Dallas, Texas. The company focuses on providing flexible financing solutions to support the acquisition and growth of middle market businesses, with $5 million to $50 million investments across the capital structure, including first lien, second lien and non-control equity co-investments. Its news flow reflects this middle market lending focus and its role as a public investment company.
On this page, readers can follow CSWC news related to quarterly and annual financial results, portfolio activity and capital structure developments. Recent releases have covered first and second fiscal quarter results, including details on total investment income, pre-tax net investment income, portfolio composition between credit and equity investments, and non-accrual levels. These updates provide insight into how Capital Southwest’s credit portfolio, largely composed of first lien senior secured debt, and its equity co-investments are performing over time.
Capital Southwest also issues frequent announcements about its dividend policy, including monthly regular dividends and quarterly supplemental dividends, as well as information on its dividend reinvestment plan for registered stockholders. Investors can track Board of Directors decisions on dividend amounts per share and payment schedules, along with commentary on taxable income available for distribution.
Other notable news items include capital markets transactions, such as the pricing and issuance of 5.950% Notes due 2030, updates on the Corporate Credit Facility and SPV Credit Facility, and the use of the Equity ATM Program to raise common equity. Governance and corporate developments, including annual meeting voting results, executive promotions and affirmed investment grade ratings from Fitch Ratings, also appear in the company’s news. This page is a central resource for monitoring ongoing developments that affect CSWC’s operations, portfolio and capital structure.
Capital Southwest Corporation (CSWC) announced an increase in its quarterly regular dividend to $0.47 per share for the quarter ending December 31, 2021, reflecting a 6.8% rise from the previous $0.44. Additionally, a final supplemental dividend of $0.50 per share will be paid, accelerating future payments under its supplemental dividend program. This decision stems from strong capital market activities and portfolio performance. The dividends are payable on December 31, 2021, with ex-dividend and record dates set for December 14 and December 15, respectively.
Capital Southwest Corporation (NASDAQ: CSWC) has announced a public offering of $100 million in 3.375% notes due in 2026. The notes are priced at 99.418% of principal, yielding 3.5%. Proceeds will be used to redeem outstanding 5.375% notes due 2024, reducing the company's debt cost by 2%. This transaction is expected to enhance shareholder value by lowering quarterly interest expenses by approximately $0.02 per share. The offering is set to close on August 27, 2021.
Capital Southwest Corporation (Nasdaq: CSWC) announced its support for Kainos Capital’s acquisition of Muenster Milling through a revolving credit facility, first lien term loan, and delayed draw term loan. Capital Southwest is the sole administrative agent in this financing deal. Muenster Milling, a fourth-generation family-owned pet food manufacturer, focuses on high-quality, innovative products. The partnership aims to leverage Muenster's positioning in the growing clean-label, high-protein pet food market.
Capital Southwest (Nasdaq: CSWC) announced its financing of Hybrid Apparel's acquisition of Air Waves via a split lien term loan. As the sole administrative agent for the credit facility, Capital Southwest collaborates with Altamont Capital Partners and Main Street Capital Corporation in this strategic partnership. Hybrid Apparel, a leading apparel distribution company, aims to enhance its service offering with Air Waves' print-on-demand capabilities, benefiting both companies. This acquisition is expected to bolster Hybrid's market position within the apparel industry.
Capital Southwest Corporation (CSWC) announced an amendment to its senior secured credit facility, reducing the interest rate from LIBOR plus 2.50% to LIBOR plus 2.15%. The advance rate on unquoted first lien assets increased to 70%, and share repurchases were permitted to rise by $20 million. Additionally, the revolving period and final maturity dates were extended to August 2025 and August 2026, respectively. CFO Michael Sarner expressed confidence in the amendment, citing lender support as an indicator of the Company’s investment strategy success.
Capital Southwest Corporation (CSWC) reported a pre-tax net investment income of $0.45 per share for the quarter ending June 30, 2021, reflecting a solid performance with $9.4 million in pre-tax net income. The company also increased its regular dividend to $0.44 per share, along with a supplemental dividend of $0.10. The total investment portfolio stood at $798.6 million, with a credit portfolio of $671.3 million. The net asset value per share rose to $16.58, and the company closed new commitments of approximately $139 million during the quarter.
Capital Southwest Corporation (Nasdaq: CSWC) is set to release its Q1 2022 earnings on August 2, 2021, post-market close. A conference call will follow on August 3, 2021, at 11:00 a.m. ET, allowing investors to engage via phone or webcast. The company, based in Dallas, focuses on flexible financing solutions for middle-market businesses, with approximately $336 million in net assets as of March 31, 2021. Forward-looking statements highlight the uncertainties faced, particularly from the COVID-19 pandemic, affecting market dynamics and financial performance.
Capital Southwest Corporation (CSWC) announced its support for New Harbor Capital's investment in Food Technology and Design, LLC (FoodPharma). This investment includes a revolving credit facility, first lien term loan, delayed draw term loan, and minority equity co-investment. FoodPharma specializes in functional foods, particularly in the soft chew category for bariatric nutrition, and has over 500 proprietary formulas. Capital Southwest, with approximately $336 million in net assets, focuses on providing financing solutions for middle-market businesses.
Capital Southwest Corporation (CSWC) announced its support for Enhanced Healthcare Partners in refinancing NeuroPsychiatric Hospitals (NPH). As the sole administrative agent in this credit facility, CSWC is contributing to NPH's expansion, which focuses on providing care for patients with complex psychiatric and medical needs. CSWC's net assets were approximately $336 million as of March 31, 2021, and it specializes in middle market lending, offering flexible financing solutions ranging from first lien to non-control equity co-investments.
Capital Southwest Corporation (CSWC) reported a pre-tax net investment income of $0.44 per share for the quarter ending March 31, 2021, with total investment income of $17.2 million. The company increased its regular dividend to $0.43 per share, totaling $0.52 per share for the quarter. Their total investment portfolio reached $688.4 million, a 24.5% year-over-year growth. The NAV per share increased to $16.01. Cash and cash equivalents stood at $31.6 million. CSWC also received its Small Business Investment Company license in April 2021.