Business Development Corporation of America – BDCA – Update

BDCA to issue shares of common stock at a price below NAV The White Law Group continues to investigate potential claims involving broker dealers who may have improperly recommended BDCA to investors. BDCA is a Business Development Company (BDC) that invests primarily in first and second lien senior secured loans and mezzanine debt issued by middle market companies. The company commenced its initial public offering in January 2011 and raised $1.9 billion before closing the offering in April 2015. According to reports, BDCA was the focus of a proxy fraud scandal at the end of 2015. Its sponsor at the time, AR Capital and its dealer manager, Realty Capital Securities, were also involved in a series of scandals which led to the termination of all AR Capital-sponsored investment programs and an agreement by RCS to terminate its business. Update on BDCA On July 9, 2018, Business Development Corporation of America announced that shareholders had approved a proposal to allow…

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