CSC - Capital Southwest Corporation
05/19/2026 | Press release | Distributed by Public on 05/19/2026 15:30
Material Agreement (Form 8-K)
Item 1.01 Entry into a Material Definitive Agreement.
On March 4, 2019, Capital Southwest Corporation (the "Company") established an "at-the-market" offering (the "ATM Program") through which the Company may sell, from time to time through sales agents, shares of the Company's common stock, par value $0.25 per share (the "Shares").
On May 19, 2026, the Company entered into the Sixth Amendments (as defined below) which, among other things, increased the maximum amount of Shares to be sold through the ATM Program to $2.0 billion from $1.0 billion. In connection therewith, on May 19, 2026, the Company entered into separate sixth amendments (the "Sixth Amendments") to (i) the third amended and restated equity distribution agreements, each dated May 26, 2021 (the "Third Amended and Restated Agreements") with each of Jefferies LLC ("Jefferies") and Raymond James & Associates, Inc. ("Raymond James"), and (ii) the amended and restated equity distribution agreements, each dated May 26, 2021 (together with the Third Amended and Restated Agreements, each as amended on each of August 3, 2021, November 2, 2021, August 2, 2022, May 21, 2024, and October 30, 2024, collectively, the "Equity Distribution Agreements") with each of Citizens JMP Securities, LLC (f/k/a JMP Securities LLC) ("Citizens Capital Markets") and B. Riley Securities, Inc. ("B. Riley" and, together with Jefferies, Raymond James and Citizens Capital Markets, the "Sales Agents"). The Equity Distribution Agreements with each of the Sales Agents, each as amended by the respective Sixth Amendments, are on substantially the same terms and conditions as one another. Under the Equity Distribution Agreements, each as amended by the respective Sixth Amendments, the Company may, but has no obligation to, issue and sell up to $2.0 billion in aggregate amount of Shares in the ATM Program, from time to time through Sales Agents, or to them, as principal for their own account. As of May 19, 2026, after giving effect to the Sixth Amendments, up to approximately $1.1 billion in aggregate amount of the Shares remains available for sale under the ATM Program.
Further details regarding the Equity Distribution Agreements, each as amended by the respective Sixth Amendments, and the ATM Program are set forth in the Company's prospectus supplement, dated October 30, 2024, relating to the Shares (including the accompany prospectus, dated October 29, 2024, the "ATM Prospectus Supplement"), supplement no. 1 to the ATM Prospectus Supplement, dated February 20, 2025 ("Supplement No. 1"), supplement no. 2 to the ATM Prospectus Supplement, dated May 20, 2025 ("Supplement No. 2"), supplement no. 3 to the ATM Prospectus Supplement, dated August 7, 2025 ("Supplement No. 3"), supplement no. 4 to the ATM Prospectus Supplement, dated November 3, 2025 ("Supplement No. 4"), supplement no. 5 to the ATM Prospectus Supplement, dated February 2, 2026 ("Supplement No. 5"), and supplement no. 6 to the ATM Prospectus Supplement, dated May 19, 2026 ("Supplement No. 6" and together with the ATM Prospectus Supplement, Supplement No. 1, Supplement No. 2, Supplement No. 3, Supplement No. 4, and Supplement No. 5, and, including, in each case, any information incorporated by reference therein, the "Prospectus"), filed by the Company with the Securities and Exchange Commission.
The foregoing description of the Sixth Amendments is not complete and is qualified in its entirety by reference to the full text of the Sixth Amendments, forms of which are attached hereto as Exhibits 10.1 and 10.2 and are incorporated herein by reference. A copy of the opinion of Eversheds Sutherland (US) LLP relating to the legality of the issuance and sale of the Shares pursuant to the Prospectus is attached as Exhibit 5.1 hereto.
The Shares, if any, will be issued pursuant to the Company's shelf registration statement on Form N-2 (File No. 333-282873) and the Prospectus, as supplemented from time to time.
This Current Report on Form 8-K shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
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