Colorado's Keating Capital to change name, ticker in sale of Keating Investments
Kathleen Lavine|Denver Business Journal
Timothy Keating, CEO of Keating Capital, which is now known as BDCA Venture Inc.
- Heather Draper[1]
- Reporter- Denver Business Journal
- This email address is being protected from spambots. You need JavaScript enabled to view it.[2] | Google+[3] | Twitter[4] | Finance Etc. blog[5]
Keating Capital[6] Inc. said Tuesday that members of its investment adviser, Keating Investments LLC, sold 100 percent of their issued and outstanding equity interests of Keating Investments to New York-based BDCA Adviser.
BDCA Adviser is a wholly owned subsidiary of AR Capital LLC and is the external investment adviser to Business Development Corporation of America (BDCA), a nontraded, closed-end investment company. AR (American Realty) Capital is a private equity real estate investing firm.
As result of the July 1 transaction, Keating Investments became a wholly owned subsidiary of BDCA Adviser and its name was changed to BDCA Venture Adviser LLC.
In addition, Greenwood Village-based Keating Capital Inc. (Nasdaq: KIPO) changed its name to BDCA Venture Inc.
The stockholders of Keating Capital Inc. will continue to own the same amount and type of shares in BDCA Venture Inc.
Shares of BDCA Venture will continue to be listed on Nasdaq and will begin trading under the new ticker “BDCV” on Wednesday.
Keating Capital did not raise any capital or issue any new securities in connection with the transaction.
“Over the longer term, BDCA Venture has the potential to benefit from access to capital by being part of the AR Capital platform,” said Timothy Keating[7], CEO of the company now known as BDCA Venture. “This could potentially result in an increased capital base, increased investment sizes, more opportunities to act as a lead investor, increased deal flow, and increased visibility and brand recognition.”
Keating, Kyle L. Rogers[8] and Frederic M. Schweiger[9] will continue to manage the day-to-day operations of the company and will remain employed with BDCA Venture Adviser.
Heather Draper covers banking, finance, law and sports business for the Denver Business Journal and writes for the "Finance Etc." blog. Phone: 303-803-9230.
References
- ^ Heather Draper (feeds.bizjournals.com)
- ^ This email address is being protected from spambots. You need JavaScript enabled to view it. (feeds.bizjournals.com)
- ^ Google+ (plus.google.com)
- ^ Twitter (twitter.com)
- ^ Finance Etc. blog (www.bizjournals.com)
- ^ Keating Capital (www.bizjournals.com)
- ^ Timothy Keating (feeds.bizjournals.com)
- ^ Kyle L. Rogers (feeds.bizjournals.com)
- ^ Frederic M. Schweiger (feeds.bizjournals.com)