Item 8.01. Other Events.
Proposed Strategic Transaction
On
If the Transaction is consummated, it will result in a change of control of Crescent, which will result in an assignment of the current investment advisory agreement between the Company and the Advisor under the Investment Company Act of 1940. As a result, the current investment advisory agreement will terminate upon completion of the Transaction, and the Company's stockholders will be asked to approve a new investment advisory agreement between the Company and the Advisor (the "Stockholder Approval"). All terms are expected to remain unchanged from the current investment advisory agreement, except with respect to the initial term of the agreement. The consummation of the Transaction is expected to occur in late 2020 and is subject to customary closing conditions and the receipt of any required regulatory approvals.
The Advisor and Sun Life issued a joint press release regarding the Transaction, a copy of which is furnished as Exhibit 99.1 to this Current Report on Form 8-K. Additionally, an investor presentation has been posted to the Company's website, which representatives of the Company intend to use in discussion with certain parties. A copy of this presentation is furnished as Exhibit 99.2 to this Current Report on Form 8-K.
The information disclosed under this Item 8.01 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.
Forward Looking Statements
The statements in this Current Report on Form 8-K that are not historical facts
may be forward-looking statements. These forward-looking statements involve
substantial risks and uncertainties. Actual results or events could differ
materially from the plans, intentions and expectations disclosed in the
forward-looking statements the Company makes. Forward-looking statements may
include, but are not limited to, statements regarding stockholder liquidity and
investment value and returns. The words "anticipates," "believes," "expects,"
"seeks," "strives," "estimates," "projects," "plans," "intends," "may," "will,"
"would," "should," "targets," "projects," and variations of these words identify
forward-looking statements, although not all forward-looking statements contain
these identifying words. Factors, some of which are beyond our control and
difficult to predict, that might cause such differences include, but are not
limited to, the factors included in the Company's reports filed with the
Item 9.01. Financial Statements and Exhibits.
d) Exhibits. Exhibit Number Description 99.1 Press Release, dated as ofOctober 21, 2020 99.2 Investor Relations Presentation
--------------------------------------------------------------------------------
© Edgar Online, source