Welcome to our dedicated page for Stellus Cap Invt SEC filings (Ticker: SCM), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Stellus Capital Investment Corporation filings document a business development company structure, common stock registered on the New York Stock Exchange under SCM, and an externally managed investment program focused on private middle-market portfolio companies. Proxy materials describe annual meeting proposals, director elections, stockholder voting results and investment advisory agreement matters involving Stellus Capital Management.
Recent 8-K disclosures cover material financing and capital-structure events, including senior secured revolving credit facility amendments, an at-the-market common stock distribution agreement, note offerings and redemption notices for outstanding notes. The filings also record governance items and other events tied to the company’s BDC financing model and external-adviser framework.
Stellus Capital Investment Corporation completed a $50 million offering of 7.250% Notes due 2030, issued as an additional series under its existing indenture. The sale generated total proceeds of $50,648,000 before underwriting discounts and expenses and increases the outstanding principal of this note series to $125,000,000.
The notes pay 7.250% interest semi-annually starting October 1, 2025, mature on April 1, 2030, and rank as the company’s direct unsecured, unsubordinated debt, alongside its existing 4.875% Notes due 2026. Stellus may redeem the notes at a make-whole premium before October 1, 2029, and at par thereafter, and must offer to repurchase them at 100% of principal if a defined change of control event occurs. The company expects to use the net proceeds to repay a portion of its 2026 notes.
Stellus Capital Investment Corporation has priced a public reopening of $50.0 million aggregate principal amount of 7.25% notes due 2030. These new notes are an additional issuance to the $75.0 million of 7.25% notes due 2030 issued on April 1, 2025, bringing the total outstanding for this series to $125.0 million.
The new notes will form a single series with the existing notes, sharing the same terms, CUSIP number, and equal ranking under the indenture. Closing is subject to customary conditions, with delivery expected on or about September 25, 2025. Stellus intends to use the net proceeds to repay part of its $100.0 million of 4.875% notes due 2026.
Stellus Capital Investment Corporation has amended its senior secured revolving credit facility, increasing total lender commitments from $315 million to $335 million and raising the accordion feature cap from $350 million to $365 million. The amendment extends the Commitment Termination Date to September 11, 2029 and the Final Maturity Date to September 11, 2030, lengthening the life of this key funding source.
The company also reduced borrowing costs, setting the applicable margin on Eurocurrency, SOFR and SONIA loans to a range of 2.25% to 2.50%, and on ABR and Canadian Prime Rate loans to a range of 1.25% to 1.50%. In addition, the amendment removes credit spread adjustments and updates certain borrowing base and financial covenant calculations, refining how much the company can draw and on what terms.
Stellus Capital Investment Corporation entered into an equity distribution agreement with Keefe, Bruyette & Woods and Raymond James to establish an at-the-market stock offering program. The company may issue and sell from time to time up to $100,000,000 in aggregate offering price of its common shares through these firms as sales agents or to them as principal.
The company plans to use any net proceeds from this at-the-market program to repay outstanding indebtedness and to make investments in portfolio companies consistent with its investment objective and strategies. The sales agents will receive a 1.5% commission on the gross sales price of any shares sold, plus reimbursement of certain expenses. Sales will be made under an effective shelf registration statement on Form N-2 and related prospectus materials.
Stellus Capital Investment Corporation (SCM) reported a material event on an 8-K indicating it filed a notice of redemption for its 4.875% Notes due 2026. The filing lists Item 8.01 (Other Events) and Item 9.01 (Financial Statements and Exhibits) and identifies Exhibit 99.1 as the "Notice of Redemption of 4.875% Notes due 2026." The document provides the exhibit description but does not include the full redemption terms, timing, payment amounts, or source of funds within the text provided here.
Stellus Capital Investment Corporation (NYSE: SCM) disclosed the results of its 17 June 2025 Annual Meeting in an 8-K filed on 20 June 2025 (Item 5.07).
Voting participation: 15,187,040 of 28,416,148 eligible shares (≈53.4%) were represented in person or by proxy.
Proposal 1 – Election of Directors:
- Dean D’Angelo: 14,468,514 FOR / 718,526 WITHHELD (≈95.3% support)
- William C. Repko: 13,693,643 FOR / 1,493,396 WITHHELD (≈90.2% support)
Both nominees were elected for three-year terms expiring at the 2028 Annual Meeting.
Proposal 2 – Authorization to Issue Shares Below NAV: Shareholders approved permitting the Board to sell or issue up to 25 % of outstanding common stock at prices below the then-current net asset value (NAV) per share.
- All shareholders: 11,161,327 FOR (≈70.2%), 3,306,930 AGAINST, 718,771 ABSTAIN
- Non-affiliate shareholders: 10,028,907 FOR, 3,306,930 AGAINST, 718,771 ABSTAIN
The authorization provides the company with added financing flexibility typical for Business Development Companies (BDCs) but could be dilutive if executed.
No other matters were brought before the meeting, and no financial performance data were presented in this filing.