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SCP Private Credit Income BDC

Filed: 11 Jun 19, 9:47pm

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM8-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 10, 2019

 

 

SCP Private Credit Income BDC LLC

(Exact name of registrant as specified in its charter)

 

 

 

Delaware 814-01294 83-0634992

(State or Other Jurisdiction

of Incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

500 Park Avenue, New York, NY 10022
(Address of Principal Executive Offices) (Zip Code)

Registrant’s telephone number, including area code: (212)993-1670

Not Applicable

(Former name or former address, if changed since last report.)

 

 

Check the appropriate box below if the Form8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant toRule 14a-12 under the Exchange Act (17 CFR240.14a-12)

 

Pre-commencement communications pursuant toRule 14d-2(b) under the Exchange Act (17 CFR240.14d-2(b))

 

Pre-commencement communications pursuant toRule 13e-4(c) under the Exchange Act (17 CFR240.13e-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

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 Rule12b-2 of the Securities Exchange Act of 1934 (17 CFR§240.12b-2).

Emerging growth company   ☒

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. ☐

 

 

 


Item 5.02.

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On June 10, 2019, the Board of Directors (the “Board”) of SCP Private Credit Income BDC LLC (the “Company”) appointed each of Mr. Michael S. Gross and Mr. Bruce J. Spohler to serve as the Company’sCo-Chief Executive Officers effective immediately (the “Appointment”). Prior to the Appointment, Mr. Gross served as the Company’s Chief Executive Officer and President and Mr. Spohler served as the Company’s Chief Operating Officer. Messrs. Gross and Spohler will continue to serve in their roles as the Company’s President and Chief Operating Officer, respectively.

Mr. Gross, age 57, has been the Chairman of the Board of Directors, Chief Executive Officer and President of the Company since 2018. Mr. Gross has also been the Chairman of the Board of Directors, Chief Executive Officer and President of Solar Senior Capital Ltd. since December 2010. In addition, Mr. Gross has served as the Managing Member, the Chairman of the Board of Directors and the Chief Executive Officer of Solar Capital LLC since its inception in February 2007. Solar Capital LLC converted to Solar Capital Ltd. in November 2007. Mr. Gross has been the Chairman of the Board of Directors of Solar Capital Ltd. since December 2007, and Chief Executive Officer and President since November 2007. In addition, Mr. Gross also currently serves as a Managing Member of the Company’s investment adviser, Solar Capital Partners, LLC.

Mr. Spohler, age 58, has served as the Chief Operating Officer and Director of the Company since 2018. Mr. Spohler has also been the Chief Operating Officer and a Director of Solar Senior Capital Ltd. since December 2010. In addition, Mr. Spohler was a Senior Vice President of Solar Capital LLC from its inception in February 2007. Solar Capital LLC converted to Solar Capital Ltd. in November 2007. Mr. Spohler has been a member of the Board of Directors of Solar Capital Ltd. since September 2009, and the Chief Operating Officer since December 2007. In addition, Mr. Spohler also currently serves as a Managing Member of the Company’s investment adviser, Solar Capital Partners, LLC.

Messrs. Gross and Spohler: (i) were not appointed as the Company’sCo-Chief Executive Officers pursuant to any arrangement or understanding with any other person; (ii) do not have a family relationship with any of the Company’s directors or other executive officers; (iii) have not engaged, since the beginning of the Company’s last fiscal year, nor propose to engage, in any transaction in which the Company was or is a participant; and (iv) have not entered into, nor expect to enter into, any material plan, contract, arrangement, grant or award in connection with their Appointment as the Company’sCo-Chief Executive Officers.


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 hereunto duly authorized.

 

  SCP Private Credit Income BDC LLC
Date: June 11, 2019  By: 

/s/ Richard L. Peteka

   

Richard L. Peteka

Secretary