Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
Market Information
There is not currently, and until an Exchange Listing we do not expect there to be, a public market for our shares, nor can we give any assurance that one will develop.
Our shares may not be sold, transferred, assigned, pledged or otherwise disposed of unless (i) our Adviser consents to such transfer and (ii) the shares are registered under applicable securities laws or specifically exempted from registration (in which case the shareholder may, at our option, be required to provide us with a legal opinion, in form and substance satisfactory to us, that registration is not required). Accordingly, an investor must be willing to bear the economic risk of investment in the shares until we are liquidated. No sale, transfer, assignment, pledge or other disposition, whether voluntary or involuntary, of the shares may be made except by registration of the transfer on our books. Each transferee will be required to execute an instrument agreeing to be bound by these restrictions and the other restrictions imposed on our shares and to execute such other instruments or certifications as we may reasonably require.
Holders
As of February 26, 2021, there were 11,630 holders of record of our shares.
Distributions and Dividend Reinvestment
We generally intend to distribute, out of assets legally available for distribution, substantially all of our available earnings, on a quarterly basis, as determined by the Board in its discretion. We can offer no assurance that we will achieve results that will permit the payment of any cash distributions and, if we issue senior securities, we will be prohibited from making distributions if doing so causes us to fail to maintain the asset coverage ratios stipulated by the 1940 Act or if distributions are limited by the terms of any of our borrowings.
The following table summarizes our distributions declared and payable for the year ended December 31, 2020 (dollars in thousands except per share amounts):
Date Declared Record Date Payment Date Per Share Amount Total Amount
January 29, 2020 January 29, 2020 May 15, 2020 $ 0.1593 $ 10,241
February 26, 2020 March 31, 2020 May 15, 2020 0.3407 27,688
April 7, 2020 April 7, 2020 August 14, 2020 0.0385 3,129
June 29, 2020 June 30, 2020 August 14, 2020 0.4615 44,454
July 14, 2020 July 14, 2020 November 13, 2020 0.0761 7,330
July 27, 2020 July 27, 2020 November 13, 2020 0.0707 7,185
August 26, 2020 September 30, 2020 November 13, 2020 0.3532 36,021
November 5, 2020 November 5, 2020 January 29, 2021 0.1957 19,958
December 14, 2020 December 14, 2020 January 29, 2021 0.2120 22,654
December 14, 2020 December 14, 2020 January 29, 2021 0.3000 32,057 (1)
December 14, 2020 December 31, 2020 January 29, 2021 0.0923 11,968
Total distributions $ 2.3000 $ 222,685
(1) Represents a special distribution
Pursuant to our dividend reinvestment plan, the following table summarizes the amounts received and shares issued to shareholders who have not opted out of our dividend reinvestment plan during the year ended December 31, 2020 (dollars in thousands except share amounts):
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Payment Date DRIP Shares Value DRIP Shares Issued
January 30, 2020 $ 2,882 112,302
May 15, 2020 4,244 194,694
August 14, 2020 5,437 229,591
November 13, 2020 6,182 248,194
Total $ 18,745 784,781
All of the dividends declared during the year ended December 31, 2020 were derived from ordinary income, determined on a tax basis.
Recent Sales of Unregistered Securities and Use of Proceeds
Except as previously reported by the Company on its current reports on Form 8-K, we did not sell any securities during the period covered by this Annual Report that were not registered under the Securities Act.
Item 6. Reserved.
The selected financial data previously required by Item 301 of Regulation S-K has been omitted in reliance on SEC Release No. 33-10890, Management's Discussion and Analysis, Selected Financial Data, and Supplementary Financial Information.
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Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.