FS Bancorp Expands Share Repurchase Program

The authorization allows for the repurchase of up to $5.0 million in additional common stock over the next year.

Leadership Change on the Board

On October 23, CNL Strategic Capital made two important updates. First, the board accepted the resignation of Arthur Levine, who’s stepping away from board service effective October 31 as part of succession planning at Levine Leichtman Capital Partners (LLCP).

Second, they named Andrew M. Schwartz—also from LLCP—as his replacement. Schwartz brings a strong background in private equity and investment oversight, and will serve as a Class III director through the 2027 shareholder meeting.

Net Asset Value and Portfolio Performance

CNL also released its latest performance data, giving investors a full view of how the portfolio is tracking. As of September 30, total assets stood at approximately $1.43 billion, with an aggregate net asset value (NAV) of $1.37 billion.

Most share classes saw small month-over-month increases in NAV per share. These movements were tied to changes in the fair value of underlying portfolio companies:

• 10 portfolio companies increased in value


• 5 saw declines


• 2 remained unchanged

New Offering Prices

The firm also adjusted its public offering prices across share classes. These new prices, effective October 30, incorporate the latest NAVs and reflect updated selling commissions and dealer manager fees. They’ll apply to the October 31 subscription closing, as well as purchases made through the distribution reinvestment plan.