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The Company 10b5-1 Plan is designed to allow TSL to repurchase its common stock at times when it otherwise might be prevented from doing so under insider trading laws. The Company 10b5-1 Plan will require an agent selected by TSL to repurchase shares of common stock on TSL’s behalf when the market price per share is below the most recently reported net asset value per share. Under the plan, the agent will increase the volume of purchases made as the price of TSL’s common stock declines, subject to volume restrictions. The timing and amount of any stock repurchases will depend on the terms and conditions of the Company 10b5-1 Plan, the market price of the common stock and trading volumes, and no assurance can be given that any particular amount of common stock will be repurchased.
Unless extended or terminated by its Board of Directors, TSL expects
that the Company 10b5-1 Plan will be in effect through the earlier of
As previously disclosed, at the time of TSL’s initial public offering,
The purchase of shares pursuant to the Company 10b5-1 Plan is intended to satisfy the conditions of Rule 10b5-1 and, together with the Advisers 10b5-1 Plan, Rule 10b-18, and will otherwise be subject to applicable law, including Regulation M, which may prohibit purchases under certain circumstances. The Advisers 10b5‐1 Plan will be administered by the agent in tandem with the Company 10b5-1 Plan at identical threshold price levels. Purchases under the Company 10b5-1 Plan and the Advisers 10b5-1 plan will be allocated between the two plans pro rata based on the amount available for purchases under each plan.
TSL is a specialty finance company focused on lending to middle-market
companies. TSL seeks to generate current income primarily in
U.S.-domiciled middle-market companies through direct originations of
senior secured loans and, to a lesser extent, originations of mezzanine
loans and investments in corporate bonds and equity securities. TSL has
elected to be regulated as a business development company, or a BDC,
under the Investment Company Act of 1940 and the rules and regulations
promulgated thereunder. TSL is externally managed by
Statements included herein may constitute “forward-looking statements” that involve substantial risks and uncertainties. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about us, our current and prospective portfolio investments, our industry, our beliefs, and our assumptions. Words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “would,” “should,” “targets,” “projects,” and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond TSL’s control and difficult to predict, that could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements.
TSL’s filings with the