---

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

Capital Southwest Corporation

---

(Exact name of registrant as specified in its charter)

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:

 

 

---

---

Item 2.02

Results of Operations and Financial Condition.

On May 1, 2015, Capital Southwest Corporation issued a press release, a copy of which has been furnished as Exhibit 99.1 hereto.

The information furnished in this Current Report on Form 8-K, including the exhibit, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1934, except as shall be expressly set forth by reference in such filing.

Item 9.01

Financial Statements and Exhibits.

(d) Exhibits

 

---

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: May 1, 2015

---

EXHIBIT INDEX

---

Exhibit 99.1

 

CAPITAL SOUTHWEST CORPORATION ANNOUNCES MARCH 31, 2015 NET ASSET VALUE

DALLAS – May 1, 2015 – The board of directors of Capital Southwest Corporation (NASDAQ: CSWC), a publicly traded business development company, reported total net assets at March 31, 2015 of $767,418,530, equivalent to $49.30 per share.  Comparative data is summarized below:

During the fiscal year ended March 31, 2015, we sold nine investments resulting in a total realized gain of $164,264,591, of which $54,370,006 was paid in taxes on behalf of our shareholders. Principally as a result of these divestitures, our net unrealized appreciation decreased by $108,377,183. We paid semi-annual dividends of $3,082,911 and incurred a net investment loss of $2,445,341. As a result of these activities, our net assets decreased by $2,969,484.

Assuming reinvestment of all dividends and tax credits on retained long-term capital gains, the March 31, 2015 net asset value per share was 8.4% greater than the net asset value of $49.98 per share at March 31, 2014.

Capital Southwest Corporation (Nasdaq:CSWC) is a Dallas-based publicly traded business development company (“BDC”), with approximately $750 million in assets. On December 2, 2014, Capital Southwest announced its intent to separate into two public companies through the spinoff of certain of its control assets into a diversified industrial growth company and the refocusing of the BDC on lending to strong middle market companies. As a result, our new investment activity is focused on senior "unitranche" debt, second lien and subordinated debt, as well as equity co-investments to support the acquisition and growth of middle market companies. Our control companies are actively seeking growth through add-on acquisitions. 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 be creative in our financing structures and to invest to support the growth of our portfolio companies over long periods of time.

 

---

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 Capital Southwest Corporation.  Any statements preceded or followed by or that include the words “believe,” “expect,” “intend,” “plan,” “should” or words, phrases or similar expressions or the negative thereof, are intended to identify forward-looking statements. These statements are made on the basis of the current beliefs, expectations and assumptions of the management of CSWC. There are a number of risks and uncertainties that could cause CSWC’s actual results to differ materially from the forward-looking statements included in this communication. These risks and uncertainties include, but are not limited to, risks relating to changes in the markets in which the Company operates and in general economic and business conditions, CSWC's ability to obtain all necessary approvals to complete the proposed spin-off transaction and to achieve the expected benefits therefrom.

In light of these risks, uncertainties, assumptions, and other factors inherent in forward-looking statements, actual results may differ materially from those discussed in this communication. Other unknown or unpredictable factors could also have a material adverse effect on CSWC’s actual future results, performance, or achievements. For a further discussion of these and other risks and uncertainties applicable to CSWC and its business, see CSWC’s Annual Report on Form 10-K for the fiscal year ended March 31, 2014 and subsequent filings with the Securities and Exchange Commission (the “SEC”). As a result of the foregoing, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this communication. CSWC does not assume any obligation to update these forward-looking statements to reflect any new information, subsequent events or circumstances, or otherwise, except as may be required by law.

 

---