CM Finance Inc (NASDAQ:CMFN) Files An 8-K Submission of Matters to a Vote of Security HoldersItem 5.07.
The Company’s stockholders approved a proposal to authorize the Company, with Board approval, to sell or otherwise issue up to 25% of the Company’s outstanding common stock at an offering price that is below the Company’s then current NAV per share. The voting results were as follows:
| Votes For | VotesAgainst | Abstentions | |
|
All Stockholders |
6,956,442 | 3,248,015 | 255,930 |
|
All Stockholders excluding Affiliates* |
6,809,448 | 3,289,496 | 259,198 |
| * | Adjusted for 102,244 affiliated shares. This motion received the affirmative vote of (i)the holders of a majority of the outstanding shares of common stock entitled to vote at this meeting; and (ii)the holders of a majority of the outstanding shares of common stock entitled to vote at this meeting that are not held by affiliated persons of the Company. For purposes of this proposal, the Investment Company Act of 1940, as amended, defines “a majority of the outstanding shares” as: (i) 67% or more of the voting securities present at this meeting if the holders of more than 50% of the outstanding voting securities of the Company are present or represented by proxy; or (ii) 50% of the outstanding voting securities of the Company, whichever is less. |
About CM Finance Inc (NASDAQ:CMFN)
CM Finance Inc is an externally managed, non-diversified closed-end management investment company. The Company is a specialty finance company that invests primarily in the debt of the United States middle-market companies. The Company’s primary investment objective is to maximize total return to stockholders in the form of current income and capital appreciation by investing in debt and related equity of privately held lower middle-market companies. As of June 30, 2016, the Company’s portfolio consisted of debt and equity investments in 22 portfolio companies. It invests in unitranche loans and standalone second and first lien loans, with an emphasis on floating rate debt. It also selectively invests in mezzanine loans/structured equity and in the equity of portfolio companies through warrants and other instruments.CM Investment Partners LLC is an external investment advisor of the Company.
