CNL Strategic Capital LLC
10/25/2024 | Press release | Distributed by Public on 10/25/2024 04:01
Material Event Form 8 K
Item 8.01 Other Events.
Determination of Net Asset Value for Outstanding Shares for the month ended September 30, 2024
On October 24, 2024, the board of directors (the "Board") determined CNL Strategic Capital, LLC's (the "Company") net asset value per share for each share class in a manner consistent with the Company's valuation policy, as described under "Determination of Net Asset Value" in the Company's Prospectus. This table provides the Company's aggregate net asset value and net asset value per share for its Class FA, Class A, Class T, Class D, Class I, and Class S shares as of September 30, 2024 (in thousands, except per share data):
|
Month Ended September 30, 2024 |
Class FA | Class A |
Class T |
Class D |
Class I | Class S | Total | ||||||||||||||
| Net Asset Value | $ | 155,153 | $ | 257,844 | $ | 89,487 | $ | 106,647 | $ | 487,709 | $ | 67,080 | $ | 1,163,920 | |||||||
| Number of Outstanding Shares | 4,040 | 7,413 | 2,569 | 3,089 | 13,832 | 1,721 | 32,664 | ||||||||||||||
| Net Asset Value, Per Share | $ | 38.41 | $ | 34.78 | $ | 34.83 | $ | 34.53 | $ | 35.26 | $ | 38.96 | |||||||||
| Net Asset Value, Per Share Prior Month | $ | 37.93 | $ | 34.40 | $ | 34.44 | $ | 34.14 | $ | 34.90 | $ | 38.53 | |||||||||
| Increase/Decrease in Net Asset Value, Per Share from Prior Month | $ | 0.48 | $ | 0.38 | $ | 0.39 | $ | 0.39 | $ | 0.36 | $ | 0.43 |
The increase in the Company's net asset value per share for each applicable share class for the month ended September 30, 2024 was primarily driven by the increases in the fair value of eleven out of sixteen of the Company's portfolio company investments. The fair value of four of the Company's portfolio company investments decreased during the same period. The fair value of one of the Company's portfolio company investments did not change. As of September 30, 2024, the Company had total assets of approximately $1.20 billion.
Public Offering Price Adjustment
On October 24, 2024, the Board approved the new per share public offering price for each share class in the Company's offering. The new public offering prices will be effective as of October 31, 2024 and will be used for the Company's next monthly closing for subscriptions on October 31, 2024. The purchase price for Class A, Class T, Class D, and Class I shares purchased under our distribution reinvestment plan will be equal to the net asset value per share for each share class as of September 30, 2024. The following table provides the new public offering prices and applicable upfront selling commissions and dealer manager fees for each share class available in this offering:
| Class A | Class T | Class D | Class I | ||||||||||
| Public Offering Price, Per Share | $ | 38.01 | $ | 36.57 | $ | 34.53 | $ | 35.26 | |||||
| Selling Commissions, Per Share | $ | 2.28 | $ | 1.10 | |||||||||
| Dealer Manager Fees, Per Share | $ | 0.95 | $ | 0.64 |
We have also posted this information on our website at www.cnlstrategiccapital.com. A subscriber may also obtain this information by calling us by telephone at (866) 650-0650.
Declaration of Distributions
On October 24, 2024, the Board declared cash distributions on the outstanding shares of all classes of our common shares based on a monthly record date, as set forth below:
| Distribution Record Date |
Distribution Payment Date |
Declared Distribution Per Share for Each Share Class | |||||||||||||||
| Class FA | Class A | Class T | Class D | Class I | Class S | ||||||||||||
| November 25, 2024 | November 26, 2024 | $0.104167 | $ | 0.104167 | $ | 0.083333 | $ | 0.093750 | $ | 0.104167 | $ | 0.104167 |