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VII Peaks-KBR Co-Optivist BDC II announces initial share offer
By Toni Weeks
San Diego, March 6 - VII Peaks-KBR Co-Optivist Income BDC II, Inc. announced plans to offer 75 million shares of its common stock at $10 per share in an initial offering, according to a 497 filing with the Securities and Exchange Commission.
KBR Capital Markets, LLC is the dealer manager for the offering. The minimum permitted purchase is $5,000 of shares. The offering is subject to minimum proceeds of $1 million in the first year.
The newly organized closed-end management investment company intends to invest in discounted corporate debt and equity-linked debt securities of public and private companies that trade on the secondary loan market for institutional investors and provide distributions to investors.
The company will seek to generate current income and capital appreciation using cooperative activism, also called a Co-Optivist approach, a strategy created and trademarked by VII Peaks Capital, LLC.
The strategy entails proactively engaging the target company management on average two years prior to a redemption event, such as a put or maturity event, to create an opportunity for growth in investments. The company intends to meet its investment objectives with the acquisition, management and liquidation of corporate debt securities, the distribution of available distributable cash to its shareholders and preservation of shareholder's capital investments.
Gupreet S. Chandhoke and Quinlan D. Fange will serve as the portfolio managers.
The sales load will be 10%, or $1 per share.
San Francisco-based VII-KBR BDC Advisor II, LLC, the investment manage, is wholly owned by VII Peaks-KBR, LLC, a joint venture between VII Peaks Capital, LLC and KBR Capital Advisors, LLC.
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