PIAC 8-K
Princeton Capital Corp (PIAC)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 19, 2021
PRINCETON CAPITAL CORPORATION
(Exact name of registrant as specified in its charter)
| Maryland | 814-00710 | 46-3516073 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer ID Number) |
|
800 Turnpike Street Suite 300 North Andover, Massachusetts |
01845 | |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: (978) 794-3366
(Former name or former address, if changed since last report.)
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. ☐
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
| None | None | None |
| Item 8.01. | Other Events. |
On August 19, 2021, Princeton Capital Corporation issued a press release, a copy of which is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference herein.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit No. | Description | |
| 99.1 | Press Release dated August 19, 2021 |
1
SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereto duly authorized.
Dated: August 19, 2021
| PRINCETON CAPITAL CORPORATION | ||
| By: | /s/ Gregory J. Cannella | |
| Name: Gregory J. Cannella | ||
| Title: Chief Financial Officer | ||
2
Exhibit 99.1
|
|
FOR IMMEDIATE RELEASE
Princeton Capital Corporation Provides Strategic Process Update
NORTH ANDOVER, MA – August 19, 2021 - Princeton Capital Corporation (OTC:PIAC) (“Princeton” or the “Company”), today provided an update on its review of strategic alternatives.
On November 15, 2019, the Company announced that the Company’s Board of Directors had initiated a strategic review process to identify, examine, and consider a range of strategic alternatives available to the Company, including but limited to, (i) selling the Company’s assets to a business development company or other potential buyer, (ii) merging with another business development company, (iii) liquidating the Company’s assets in accordance with a plan of liquidation, (iv) raising additional funds for the Company, or (v) otherwise entering into another business combination, with the objective of maximizing stockholder value.
The Company’s strategic options have been enhanced by significant valuation growth in the Company’s portfolio of investments of 31.28% in the second quarter of 2021 and 48.26% for the calendar year through June 30, 2021, as described in the Company’s Form 10-Q filings for the first two quarters of 2021.
While the COVID-19 pandemic temporarily slowed the Company’s efforts, the Company and its Board remain active in reviewing strategic alternatives with the continued objective of maximizing stockholder value. The Board is open to any alternatives for maximizing stockholder value, including a potential strategic transaction.
The Board and the Company’s management team plan to continue to proceed in a timely and orderly manner, but have not set a definitive timetable for completion of the strategic process. There can be no assurance of a successful outcome from these efforts, or of the form or timing of any such outcome.
For more information about the Company, please review the Company’s filings, including the Company’s most recent Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, which are available on its website at https://ir.princetoncapitalcorp.com/all-sec-filings or the U.S. Securities and Exchange Commission website at www.sec.gov.
About Princeton Capital Corporation
Princeton Capital Corporation is an externally managed, non-diversified, closed-end investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. Princeton Capital Corporation’s investment objective is to maximize the total return to our stockholders in the form of current income and capital appreciation through the debt securities and related equity investments. The Company’s investment activities are currently managed by its Investment Adviser, House Hanover, LLC, which is an investment adviser registered under the Investment Advisers Act of 1940, as amended.
Forward-Looking Statements
Statements included herein may constitute “forward-looking statements,” which relate to future events or our future performance or financial condition. These forward-looking statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the U.S. Securities and Exchange Commission. Princeton Capital Corporation undertakes no duty to update any forward-looking statements made herein. All forward-looking statements speak only as of the time of this press release.
Company Contact:
Gregory J. Cannella, Chief Financial Officer
(978) 794-3366