Fifth Street Asset Management informed the U.S. Securities and Exchange Commission that it would not be able to file its second-quarter report on Form 10-Q in a timely manner without unreasonable effort and expense.

The company said the delay in the filing is the result of a series of postponements in preparing the financial information required to be disclosed in connection with an asset purchase agreement. Under the agreement, Oaktree Capital Group LLC's unit Oaktree Capital Management LP will pay $320 million in cash to undertake management of Fifth Street Finance Corp. and Fifth Street Senior Floating Rate Corp.

Fifth Street Asset Management anticipates that it will be able to complete and file the Form 10-Q within an extension period of five calendar days, the company said in a regulatory filing.