Final phase of the listing is complete
Summary
The final phase of the listing is complete and all shares are available for trading.
Upcoming webinars
To keep you as informed as possible as we approach the listing, we will be hosting regular webinars to provide updates and answer any questions.
- Wednesday, Nov. 9 at 4:00 PM ET register now
Watch the FSCO Q1 2023 earnings call replay
Overview
Ticker
- NYSE: FSCO
Listing date
- November 14, 2022
Post-listing liquidity
- Shareholders and the Fund’s board of directors (the “Board”) approved a proposal for the Fund to implement a phased approach to the listing based on the following schedule
- November 14, 2022: up to 1/3 of shares held by all shareholders were made available for trading. Accounts with balances of $15,000 or less prior to listing had all shares made available for trading at listing.
- February 13, 2023 (90 days post-listing): an additional 1/3 of shares held by all shareholders were made available for trading.
- May 15, 2023 (180 days post-listing): the remaining 1/3 of shares held by all shareholders were made available for trading.
Distribution
- Visit FSCO’s fund page for the latest distribution information.1
Distribution reinvestment plan
- The Board adopted an amended and restated distribution reinvestment plan (A&R DRP), which became effective upon the listing.
- Therefore, monthly distributions were paid in cash during the three phases of the listing.
- To account for the three phases of the listing in November 2022, the A&R DRP was suspended at listing, and we expect the Fund to reinstate the A&R DRP 181 days following the third phase of the listing (May 16, 2023).
- Upon DRP reinstatement, registered shareholders who elected to receive cash prior to the listing and still hold their shares with the Fund’s transfer agent will continue to receive cash distributions.
- To change your distribution election, submit an Account Maintenance form.
Operational letters
- The payment of future distributions on FSCO’s common shares is subject to the discretion of FSCO’s board of directors and applicable legal restrictions and, therefore, there can be no assurance as to the amount or timing of any such future distributions.
CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS
Statements included herein may constitute “forward-looking” statements as that term is defined in Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995, including statements with regard to future events or the future performance or operations of the Company. Words such as “intends,” “will,” “expects,” and “may” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results to differ materially from those projected in these forward-looking statements. Factors that could cause actual results to differ materially include changes in the economy, geo- political risks, risks associated with possible disruption to the Company’s operations or the economy generally due to hostilities, terrorism, natural disasters or pandemics such as COVID-19, future changes in laws or regulations and conditions in the Company’s operating area, unexpected costs, the price at which the Company’s shares of common stock may trade on the New York Stock Exchange and such other factors that are disclosed in the Company’s filings with the Securities and Exchange Commission (the “SEC”). There can be no assurances that the investment fund will be established, and if it is, the amount or timing of any purchases of Company shares. The inclusion of forward-looking statements should not be regarded as a representation that any plans, estimates or expectations will be achieved. Any forward-looking statements speak only as of the date of this communication. Except as required by federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on any of these forward-looking statements.