UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) April 29, 2013
Capital Southwest Corporation
(Exact name of registrant as specified in its charter)
| Texas |
811-1056
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75-1072796
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| (State or other jurisdiction |
(Commission
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(IRS Employer
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| of incorporation) |
File Number)
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Identification No.)
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12900 Preston Road, Suite 700, Dallas, Texas
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75230
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(Address of principal executive offices)
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(Zip Code)
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Registrant’s telephone number, including area code 972-233-8242
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.02 Results of Operations and Financial Condition.
On April 29, 2013, Capital Southwest Corporation (the “Company”) issued a press release reporting the net asset value of the Company at March 31, 2013. A copy of the press release is attached hereto as Exhibit 99.1. Pursuant to the rules and regulations of the Securities and Exchange Commission, such exhibit and the information set forth therein and herein shall not be deemed to be filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and shall not be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01Financial Statements and Exhibits.
| (a) | None. |
| (b) | None. |
| (c) | None. |
| (d) | Exhibits |
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Exhibit
Number
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Description
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99.1
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Press Release dated April 29, 2013
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: April 29, 2013
| By: | /s/ Gary L. Martin |
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Name: Gary L. Martin
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Title: Chairman and President
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 |
12900 Preston Road, Suite 700
Dallas, Texas 75230
T 972.233.8242
F 972.233.7362
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CAPITAL SOUTHWEST CORPORATION ANNOUNCES 3/31/2013 NET ASSET VALUE
DALLAS – April 29, 2013 – Capital Southwest Corporation (NASDAQ: CSWC) today reported total net assets at March 31, 2013 of $659,776,933 equivalent to $173.20 per share. Comparative data is summarized below:
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March 31, 2013
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December 31, 2012
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March 31, 2012
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||||||||||
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Net assets
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$ | 659,776,933 | $ | 628,089,815 | $ | 628,707,006 | ||||||
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Shares outstanding
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3,809,316 | 3,798,393 | 3,754,538 | |||||||||
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Net assets per share
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$ | 173.20 | $ | 165.36 | $ | 167.45 | ||||||
During the twelve months ended March 31, 2013, net assets increased $31,069,927. This increase is primarily related to improved earnings and multiple acquisitions by our restricted holdings, which are offset by the elimination of unrealized appreciation due to the sale of 2,774,250 shares of common stock of Encore Wire, Inc. and the sale of 9,317,310 shares of common stock of Heelys, Inc. The total unrealized gains included in earnings that relate to assets still held at March 31, 2013 are $120,777,969
Assuming reinvestment of all dividends and tax credits on retained long-term capital gains, the March 31, 2013 net asset value was 27.0% greater than the March 31, 2012 net asset value of $167.45 per share and 7.2% above the December 31, 2012 net asset value of $165.36 per share. It is important to note that during the twelve months ended March 31, 2013, we distributed $77,300,714 or $20.34 per share of capital gains dividends and $3,025,032 or $0.80 per share in ordinary dividends to our shareholders. The assumed reinvestment of the capital gains distribution has positively impacted the rate of return.
About Capital Southwest Corporation
Since Capital Southwest was formed in 1961, we have always sought to invest in companies with strong management teams and sound financial performance. As a public company, we are fortunate to have the flexibility to hold investments indefinitely. It is our dedication to this patient investment strategy that enables our portfolio companies to achieve their full potential. Visit our website www.capitalsouthwest.com to learn about our investment criteria and how our capital can accelerate your company’s growth.
This press release may contain historical information and forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 with respect to the business, financial condition and results of operations of the Company. The words "believe," "expect," "intend," "plan," "should" and similar expressions are intended to identify forward-looking statements. Such statements reflect the current views, assumptions and expectations of the Company with respect to future events and are subject to risks and uncertainties. Many factors could cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in the markets in which the Company operates and in general economic and business conditions, competitive pressures, changes in business strategy and various other factors, both referenced and not referenced in this press release. Certain factors that may affect the Company and its results of operations, are included in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2012 and the Company’s subsequent periodic filings with the Securities and Exchange Commission. The Company does not assume any obligation to update these forward-looking statements. This release may also contain non-GAAP financial measures. These measures are included to facilitate meaningful comparisons of our results to those in prior periods and future periods and to allow a better evaluation of our operating performance, in management’s opinion. Our reference to any non-GAAP measures should not be considered as a substitute for results that are presented in a manner consistent with GAAP. These non-GAAP measures are provided only to enhance investors overall understanding of our financial performance.
| Contact: | Gary L. Martin or Tracy L. Morris |
| 972-233-8242 |
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