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) June 14, 2022
ArrowMark Financial Corp.
(Exact Name of Registrant as Specified in Charter)
| Delaware | 333-189307 | 90-0934878 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
|
100 Fillmore Street, Suite 325, Denver, Colorado |
80206 |
||
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code (303) 398-2929
(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 Instruction 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 | BANX | NASDAQ |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company o
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 June 14, 2022, ArrowMark Financial Corp. (NASDAQ: BANX) (the “Company”), a closed-end investment company, issued a press release announcing its estimated May 2022 net asset value per share and that Dana Staggs has been appointed as the President of the Company, effective as of June 9, 2022. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits:
| Exhibit Number | Description |
| 99.1 | Press Release, dated June 14, 2022 |
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 hereunto duly authorized.
| ARROWMARK FINANCIAL CORP. | ||
| Date: June 16, 2022 | ||
| By: | /s/ Patrick J. Farrell | |
| Name: Patrick J. Farrell | ||
| Title: Chief Financial Officer | ||
| Exhibit Index | |
| 99.1 | Press Release, dated June 14, 2022 |
Exhibit 99.1
ArrowMark Financial Corp. Announces Estimated May 2022 Net Asset Value and Announces the Appointment of ArrowMark Financial Corp. President, Dana Staggs
June 14, 2022
DENVER, June 14, 2022 (GLOBE NEWSWIRE) -- ArrowMark Financial Corp., (NASDAQ: BANX) (“ArrowMark Financial” or the “Company”), today announced that the Company’s May 31, 2022, estimated and unaudited Net Asset Value (“NAV”) was$21.34, down $0.02 from the prior month.
In addition, ArrowMark Financial announced the appointment of Dana Staggs as President. Mr. Staggs has more than 27 years of experience leading organizations. He has been with ArrowMark Partners for five years as a Managing Director, helping lead the private debt and equity investments strategy at the firm. Mr. Staggs has been working on the ArrowMark Financial Corp. team since 2020, focused on origination, diligence, and management of the investment portfolio.
Prior to joining ArrowMark Partners in 2017, Mr. Staggs worked in similar capacities at Goldman Sachs Asset Management and Barclays Bank PLC. He served over 10 years in the U.S. Navy attaining the rank of Lieutenant Commander after graduating from the United States Naval Academy.
“Dana has been contributing his expertise as a leader and his knowledge in corporate development and origination toArrowMark Financial Corp. for over two years. I am pleased to have Dana as an official member of the management team,” stated Sanjai Bhonsle, Chairman and CEO.
About ArrowMark Financial Corp.
ArrowMark Financial is an SEC registered non-diversified, closed-end investment company listed on the NASDAQ Global Select Market. ArrowMark Financial is managed by ArrowMark Asset Management, LLC. To learn more, visit ir.arrowmarkfinancialcorp.com.
Disclaimer and Risk Factors:
There is no assurance that ArrowMark Financial will achieve its investment objective. ArrowMark Financial is subject to numerous risks, including investment and market risks, management risk, income and interest rate risks, banking industry risks, preferred stock risk, convertible securities risk, debt securities risk, liquidity risk, valuation risk, leverage risk, non-diversification risk, credit and counterparty risks, market at a discount from net asset value risk and market disruption risk. Shares of closed-end investment companies may trade above (a premium) or below (a discount) their net asset value. Shares of ArrowMark Financial may not be appropriate for all investors. Investors should review and consider carefully ArrowMark Financial's investment objective, risks, charges and expenses. Past performance does not guarantee future results.
Contact:
Julie Muraco
Investor Relations
212-468-5441
Source: ArrowMark Financial Corp.