NewStar Financial, Inc. (NASDAQ:NEWS) Files An 8-K Other Events
Item 8.01 Other Events.
On December 9, 2016, NewStar Financial, Inc. (NewStar) announced
that its Board of Directors (the Board) had authorized a new
stock repurchase plan, under which NewStar may repurchase of up
to $30.0 million of its common stock from time to time in open
market or privately negotiated transactions.The timing and amount
of any shares purchased will be determined by NewStars management
based on its evaluation of market conditions and other factors.
The new stock repurchase program will commence immediately upon
the scheduled expiration of NewStars previously announced stock
repurchase program on December 31, 2016.The new repurchase plan
is scheduled to expire on December 31, 2017, unless extended by
the Board, and may be suspended or discontinued at any time.
A copy of the press release of NewStar is attached hereto as
Exhibit 99.1 and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
|
Exhibit Number |
Description |
|
99.1 |
Press Release of NewStar Financial, Inc. dated December |
About NewStar Financial, Inc. (NASDAQ:NEWS)
NewStar Financial, Inc. (NewStar) is a commercial finance company with specialized lending platforms focused on meeting the financing needs of companies and private investors in the middle market. The Company and its wholly owned investment management subsidiary, NewStar Capital LLC, are registered investment advisors and provide asset management services to institutional investors. The Company manages various private credit funds that co-invest in loan origination through its leveraged finance lending platform. Through its wholly owned subsidiary, the Company also manages a series of funds structured as collateralized loan obligations (CLOs) that invest primarily in broadly syndicated loans, as well as other sponsored funds and managed accounts that invest across various asset classes, including broadly syndicated loans, high yield bonds and distressed credits. The Company’s loan portfolio includes loans, leases and other debt products. NewStar Financial, Inc. (NASDAQ:NEWS) Recent Trading Information
NewStar Financial, Inc. (NASDAQ:NEWS) closed its last trading session up +0.09 at 8.99 with 423,113 shares trading hands.
