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FSAM - Fifth Street Asset Management Inc. Announces Distribution of $0.145 per share and Provides a Business Update


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  • December, 18 2020 04:30 PM
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WEST PALM BEACH, Fla., Dec. 18, 2020 (GLOBE NEWSWIRE) -- Fifth Street Asset Management (OTCPK:FSAM) (“FSAM” or the “Company”) today announced that on December 17, 2020 its Board of Directors declared a distribution of $0.145 per share payable on December 29, 2020.

NASD UPC (Uniform Practice Code) rule 11140 provides that, in respect to dividends or distributions that are 25 percent or greater of the value of the subject security, the ex-dividend date shall be the first business day following the payable date. Accordingly, an FSAM investor that sells shares of FSAM common stock prior to the payment date of December 29, 2020 will not receive the distribution for the FSAM shares that are sold.

FSAM expects to distribute less than $0.02 per share in the first half of 2021 as a final liquidating distribution.

FSAM is conducting a final liquidating audit of its 2020 fiscal year, which the Company plans to release to all investors once complete.

About Fifth Street Asset Management Inc.

Prior to the closing of the asset sale to Oaktree Capital Management, L.P. on October 17, 2017, Fifth Street Asset Management Inc. was a nationally recognized credit-focused asset manager.

Forward-Looking Statements

Some of the statements in this press release may include, and certain oral statements made by our representatives from time to time may include, forward-looking statements that reflect current views with respect to future events and financial performance. Statements that include the words “should,” “expect,” “will,” “intend” and similar statements of a future or forward-looking nature identify forward-looking statements in this press release or similar oral statements for purposes of the U.S. federal securities laws or otherwise, although not all forward-looking statements include such words. Such statements are “forward looking” statements, as such term is defined in the Private Securities Litigation Reform Act of 1995, and involve assumptions, risks and uncertainties, all of which can change over time. Actual results could differ materially from those expressed or implied in these forward-looking statements for any reason.  Risks and uncertainties specific to FSAM include (a) that FSAM has limited to no revenue generating operations, (b) that future dividends and distributions of proceeds relating to the transaction with Oaktree to FSAM Class A stockholders must be declared by the FSAM Board, subject to applicable law, (c) that any amounts distributed to FSAM Class A stockholders may not be reflective of the price at which any investor has purchased, or may purchase, shares of FSAM Class A common stock and (d) that ongoing operational costs at FSAM and its subsidiaries and potential wind-down costs may impact amounts that may be available for distribution by FSAM to its Class A stockholders. FSAM undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

CONTACT:

Investor Contact:
Robyn Friedman
(561) 510-2293
rfriedman@fifthstreetfinance.com


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