Investcorp Credit Management BDC, Inc. Cancels Conference Call and Advises Investors Not to Rely on Previously Issued Press Release Containing Financial Results for the Quarter Ended December 31, 2023
Investcorp Credit Management BDC, Inc. (NASDAQ: ICMB) cancels conference call and delays Form 10-Q filing due to review of accrued expenses for the second quarter ended December 31, 2023.
Negative
Delayed conference call and Form 10-Q filing may create uncertainty among investors.
Review of accrued expenses indicates potential financial reporting discrepancies.
02/13/2024 - 09:34 AM
NEW YORK --(BUSINESS WIRE)--
Investcorp Credit Management BDC, Inc. (NASDAQ: ICMB) (the “Company”) announced today that it has cancelled its conference call for the second quarter ended December 31, 2023, initially scheduled for today, February 13, 2024, at 1:00 p.m. Eastern Time, and that investors should not rely on the press release it issued on February 12, 2024 containing its financial results for the second quarter ended December 31, 2023. The Company will also delay the filing of its Form 10-Q for the second quarter ended December 31, 2023 with the SEC until it can complete its review of whether certain expenses had been properly accrued in the correct periods and, if not, the impact of any such adjustments on its consolidated financial statements.
About Investcorp Credit Management BDC, Inc.
The Company is an externally managed, closed-end, non-diversified management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940. The Company’s investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments by targeting investment opportunities with favorable risk-adjusted returns. The Company seeks to invest primarily in middle-market companies that have annual revenues of at least $50 million $15 million www.icmbdc.com .
Forward-Looking Statements
Statements included in this press release may contain “forward-looking statements,” which relate to future performance, operating results, events and/or financial condition. Words such as “anticipates,” “expects,” “intends,” “plans,” “will,” “may,” “continue,” “believes,” “seeks,” “estimates,” “would,” “could,” “should,” “targets,” “projects,” and variations of these words and similar expressions are intended to identify forward-looking statements. Any forward-looking statements, including statements other than statements of historical facts, included in this press release are based upon current expectations, are inherently uncertain, and involve a number of assumptions and substantial risks and uncertainties, many of which are difficult to predict and are generally beyond the Company’s control.
Investors are cautioned not to place undue reliance on these forward-looking statements. Any such statements are likely to be affected by other unknowable future events and conditions, which the Company may or may not have considered, including, without limitation, changes in base interest rates and the effects of significant market volatility on our business, our portfolio companies, our industry and the global economy. Accordingly, such statements cannot be guarantees or assurances of any aspect of future performance or events. Actual results may differ materially from those anticipated in any forward-looking statements as a result of a number of factors and risks. More information on these risks and other potential factors that could affect actual events and the Company’s performance and financial results, including important factors that could cause actual results to differ materially from plans, estimates or expectations included herein or discussed on the earnings call, is or will be included in the Company’s filings with the SEC, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. All forward-looking statements speak only as of the date they are made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
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Investcorp Credit Management BDC, Inc.
icmbinvestorrelations@investcorp.com
Source: Investcorp Credit Management BDC
Why did Investcorp Credit Management BDC, Inc. (ICMB) cancel its conference call for the second quarter ended December 31, 2023?
Investcorp Credit Management BDC, Inc. cancelled its conference call to review accrued expenses for potential discrepancies in financial reporting.
Why is the filing of Form 10-Q for the second quarter ended December 31, 2023 delayed by Investcorp Credit Management BDC, Inc. (ICMB)?
The filing of Form 10-Q is delayed as the company is reviewing whether certain expenses were properly accrued in the correct periods and assessing the impact of any adjustments on its financial statements.
What impact does the cancellation of the conference call and delay in filing Form 10-Q have on Investcorp Credit Management BDC, Inc. (ICMB) investors?
The cancellation and delay may lead to uncertainty among investors about the company's financial performance and reporting accuracy.
What was the initial schedule for the conference call by Investcorp Credit Management BDC, Inc. (ICMB) for the second quarter ended December 31, 2023?
The conference call was initially scheduled for February 13, 2024, at 1:00 p.m. Eastern Time.
When will Investcorp Credit Management BDC, Inc. (ICMB) complete its review of accrued expenses for the second quarter ended December 31, 2023?
The company will complete its review before filing its Form 10-Q with the SEC.
What does the review of accrued expenses by Investcorp Credit Management BDC, Inc. (ICMB) imply about its financial statements?
The review suggests potential discrepancies in financial reporting that need to be addressed.
How might the delay in filing Form 10-Q impact Investcorp Credit Management BDC, Inc. (ICMB)'s financial transparency?
The delay could affect the company's financial transparency as investors await the revised financial statements.
