UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 8, 2022
Silver Spike Investment Corp.
(Exact name of Registrant as Specified in Its Charter)
| Maryland | 001-40564 | 86-2872887 |
| (State or Other Jurisdiction | (Commission File Number) | (IRS Employer |
| of Incorporation) | Identification No.) |
| 660 Madison Avenue, Suite 1600 | |
| New York, New York | 10065 |
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s Telephone Number, Including Area Code: (212) 905-4923
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
| o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock, $0.01 par value per share | SSIC | The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934. Emerging growth company x
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
| Item 8.01 | Other Events. |
On February 8, 2022, Silver Spike Investment Corp. issued a press release announcing the closing of its initial public offering of shares of its common stock. This press release is included as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference.
Item 9.01.
Financial Statements and Exhibits.
(d) Exhibits
| Exhibit | Description |
| Number | |
|
|
Press Release, dated February 8, 2022.
|
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| Silver Spike Investment Corp. | |||
| February 8, 2022 | |||
| By: | /s/ Gregory Gentile | ||
| Name: | Gregory Gentile | ||
| Title: | Chief Financial Officer | ||
Exhibit 99.1
Silver Spike Investment Corp. Announces Closing of Initial Public Offering
NEW YORK, February 8, 2022 – Silver Spike Investment Corp. (NASDAQ: SSIC), a newly-organized closed-end management investment company that has elected to be treated as a business development company, today announced that it closed its initial public offering of 6,071,429 shares of its common stock, at a price to the public of $14.00 per share, on February 8, 2022. SSIC’s shares of common stock began trading on the NASDAQ Stock Market on February 4, 2022 under the symbol “SSIC.”
SSIC received net proceeds from the offering of approximately $83.3 million, after deducting estimated organizational and offering expenses, which it intends to use to make investments in accordance with its investment objective and strategies and for general corporate purposes.
Stifel and Piper Sandler acted as joint book-running managers for the offering. Canaccord Genuity and Cantor acted as co-managers for the offering.
This press release will not constitute an offer to sell or the solicitation of an offer to buy the securities described above nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to their registration or qualification under the securities laws of any such state or jurisdiction.
About Silver Spike Investment Corp.
Silver Spike Investment Corp. (“SSIC”) is a newly-organized specialty finance company formed to invest across the cannabis ecosystem through investments in the form of direct loans to, and equity ownership of, privately held cannabis companies. SSIC has elected to be treated as a business development company under the Investment Company Act of 1940, as amended. SSIC is managed by Silver Spike Capital, LLC. Silver Spike Capital, LLC is an investment manager focused on the cannabis and alternative health and wellness industries.
Forward-Looking Statements
Certain information contained herein may constitute “forward-looking statements” that involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and other factors and undue reliance should not be placed thereon. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about SSIC, its current and prospective portfolio investments, its industry, its beliefs and opinions, and its assumptions. Words such as “anticipates,” “expects,” “intends,” “plans,” “will,” “may,” “continue,” “believes,” “seeks,” “estimates,” “would,” “could,” “should,” “targets,” “projects,” “outlook,” “potential,” “predicts” and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond SSIC’s control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements including, without limitation, the risks, uncertainties and other factors identified in SSIC’s filings with the U.S. Securities and Exchange Commission. Investors should not place undue reliance on these forward-looking statements, which apply only as of the date on which SSIC makes them. SSIC does not undertake any obligation to update or revise any forward-looking statements or any other information contained herein, except as required by applicable law.
Investor Contact:
Bill Healy
212-905-4933
bill@silverspikecap.com
Media Contact:
Alan Oshiki and Will Braun
Abernathy MacGregor
silverspikecapital@abmac.com
212-371-5999