HOUSTON--(BUSINESS WIRE)--Stellus Capital Investment Corporation (the “Company”) (NYSE: SCM), a business development company, today announced that its wholly-owned subsidiary, Stellus Capital SBIC, LP ("Stellus SBIC"), has received approval for a license from the United States Small Business Administration ("SBA") to operate as a Small Business Investment Company ("SBIC"). The license will allow Stellus SBIC to obtain leverage by issuing SBA-guaranteed debentures, subject to the issuance of a capital commitment by the SBA and customary procedures.
“We are pleased to have obtained approval from the SBA for our initial SBIC license and we look forward to working closely with the SBA in the years ahead,” said Robert T. Ladd, Chief Executive Officer of the Company. “This is a significant milestone for our company and will contribute meaningfully to our long term capital plans.”
About Stellus Capital Investment Corporation
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 by investing primarily in private middle-market companies (typically those with $5.0 million to $50.0 million of EBITDA (earnings before interest, taxes, depreciation and amortization)) through first lien, second lien, unitranche and mezzanine debt financing, and corresponding equity investments. The Company’s investment activities are managed by its investment adviser, Stellus Capital Management. To learn more about Stellus Capital Investment Corporation, visit www.stelluscapital.com under the Stellus Capital Investment Corporation link.
Statements included herein may contain “forward-looking statements” which relate to future performance or financial condition. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of assumptions, risks and uncertainties, which change over time. Actual results may differ materially from those anticipated in any forward-looking statements as a result of a number of factors, including those described from time to time in filings by the Company with the Securities and Exchange Commission including the final prospectus that will be filed with the Securities and Exchange Commission. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.