Capitala Finance Corp.
|Company Name||Capitala Finance Corp.|
On January 4, 2016, Capitala announced that Capitala Investment Advisors, LLC, the affiliate that manages the Company's investment activities, had agreed to waive its quarterly incentive fee. On August 7, 2017, Capitala disclosed that six of its investments were on non-accrual status—twice as many as in the previous quarter. Then on August 8, 2017, the Company disclosed that Capitala Investment Advisors had been losing professional talent in underwriting and portfolio management since waiving its incentive fee, which had caused an increase in the number of the Company's nonaccrual investments.
On this news, shares of Capitala fell nearly 30%, over the next three trading days to close at $8.99 on August 10, 2017, thereby injuring investors.
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