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Garrison Capital board member dies

Garrison Capital Inc. board member Bruce Shewmaker has died.

Shewmaker had served on the board since 2011. He has served as a managing director for MVC Capital Inc. and a senior investment professional for The Tokarz Group Advisers LLC.

As a result, Garrison Capital notified the Nasdaq Global Select Market that it is out of compliance with the rule requiring each Nasdaq-listed company to have a majority of independent directors. The company is considering various options to regain compliance with the rule before the expiration of the cure period granted by Nasdaq. The cure period will expire upon the earlier of the company's next annual shareholders meeting or Dec. 7, 2017. If the next shareholders meeting is before June 5, 2017, the cure period will not expire until June 5, 2017.