NexPoint Capital Inc. is offering to repurchase up to 2.5% of its outstanding common stock, according to a tender offer statement filed by the company.
The offer will expire at 4 p.m. ET on Sept. 30, unless extended.
The company will purchase each share at an amount not less than the net asset value per share next calculated following the expiration date and not more than 2.5% greater than the NAV per share as of such date, plus any unpaid dividends accrued through Sept. 30, less any applicable withholding taxes and without interest.
The company's NAV per share as of July 30 was $8.61, according to the filing.
NexPoint Capital will use the proceeds received from the sale of common stock under its distribution reinvestment plan to pay for shares tendered. At the sole discretion of the board, the company may also use cash on hand, cash available from borrowings and cash from liquidation of investments as of the end of the applicable period to buy back shares.
DST Systems Inc. is the tender agent for the offer.
