trending Market Intelligence /marketintelligence/en/news-insights/trending/PwUg9LhdUEAU4J3XoC1-yg2 content esgSubNav
In This List

Fifth Street Asset Management discloses common share transaction under settlement agreement with RiverNorth Capital

Blog

Insight Weekly: Global stock performance; hydrogen pilot projects; Powell's Fed future unsure

Blog

How Financial Institutions are Managing Exposure to U.S. Municipals

Blog

Top 100 Banks: Capital Ratios Show Resilience to the Pandemic

Blog

Banking Essentials Newsletter: October Edition


Fifth Street Asset Management discloses common share transaction under settlement agreement with RiverNorth Capital

disclosedin a Form 8-K filed March 29 that Fifth Street Holdings LP on March 24 purchased4,078,304 of Fifth Street FinanceCorp. common shares from certain sellers pursuant to a purchase andsettlement agreement.

The agreementwas made among Fifth Street Asset Management, Fifth Street Finance, Fifth StreetHoldings and Leonard Tannenbaum, as buyers, and RiverNorth Capital Management LLC, RiverNorth Capital PartnersLP, RiverNorth Institutional Partners LP, RiverNorth Core Opportunity Fund, RiverNorth/DoubleLineStrategic Income Fund, Randy Rochman, Fred Steingraber and Murray Wise, as sellers.

Fifth StreetHoldings on March 24 bought the Fifth Street Finance common shares from the sellersfor about $25.0 million in cash, representing the aggregate purchase price payableafter crediting certain dividends payable to Fifth Street Holdings pursuant to theterms of the agreement. On March 24 and March 29, the remaining 5,142,296 FifthStreet Finance common shares that the buyers were obligated to purchase under theterms and subject to the conditions of the agreement were purchased by Tannenbaum.

Fifth StreetHoldings is a limited partnership for which Fifth Street Asset Management servesas the general partner. Tannenbaum is the chairman and CEO of Fifth Street AssetManagement.