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FS/KKR Advisor, LLC has completed the merger of FS KKR Capital Corp. (FSK) and FS KKR Capital Corp. II (FSKR), creating a unified entity trading under the FSK ticker on the NYSE. FSKR shareholders received 0.9498 FSK shares per share held, reflecting the respective net asset values of $26.77 for FSK and $25.42 for FSKR as of June 14, 2021. The merger combines approximately $15 billion in assets and enhances market reach. Additionally, FSK has authorized a $100 million share repurchase program to buy back shares at prices below the current net asset value.
On May 24, 2021, FS/KKR Advisor announced that shareholders of FS KKR Capital Corp. (FSK) and FS KKR Capital Corp. II (FSKR) approved the merger during special meetings held on May 21, 2021. The merger, expected to close around June 16, 2021, will create a single entity with approximately $15 billion in assets. The combined company will benefit from a diversified investment portfolio and an enhanced capital market presence. Post-merger, shareholders of FSKR will receive shares of FSK equivalent to the NAV of their holdings, with distributions planned for early July 2021.
FS KKR Capital Corp. II (FSKR) reported a net investment income of $97 million or $0.57 per share for Q1 2021, compared to $0.59 per share in Q4 2020. The net asset value increased to $25.33 per share from $25.10 as of December 31, 2020. Despite a total net realized and unrealized gain dropping to $0.21 per share from $0.35, the company maintained a consistent cash distribution of $0.55 per share. The net debt to equity ratio improved to 74% from 85% in the previous quarter.
FS KKR Capital Corp. (NYSE: FSK) will announce its first quarter 2021 results on May 10, 2021. A conference call is scheduled for May 11, 2021, at 8:00 a.m. ET to discuss these results. Interested parties can join via phone or listen to the webcast on the company's Investor Relations website. An investor presentation will also be available on the same date. FS KKR Capital Corp. is a publicly traded business development company focusing on credit solutions for private middle market U.S. companies and is advised by FS/KKR Advisor, LLC.
FS KKR Capital Corp. II (NYSE: FSKR) will release its first quarter 2021 results after market close on May 10, 2021. The company will host a conference call on May 11, 2021, at 10:00 a.m. ET to discuss these results. Interested participants can join by dialing (833) 519-1290 or through a webcast available on FSKR's Investor Relations website. An investor presentation will also be accessible after the May 10 results release. FSKR is a prominent business development company focused on customized credit solutions for private middle market U.S. companies.
FS KKR Capital Corp. (NYSE: FSK) announced financial results for Q4 and year-end 2020, reporting a net investment income of $0.63 per share. Adjusted net investment income rose to $0.72 per share. The company declared a Q1 2021 distribution of $0.60 per share, payable on April 2, 2021. Total net realized and unrealized gains were $0.53 per share, a decline from Q3 2020. The net asset value increased to $25.02 per share. The total fair value of investments decreased to $6.78 billion. The company is optimistic about future prospects, especially following its proposed merger with FSKR.
FS KKR Capital Corp. II (NYSE: FSKR) reported its financial results for Q4 and full year 2020. The company achieved a net investment income of $0.59 per share, up from $0.52 in Q3 2020, while declaring a first-quarter 2021 distribution of $0.55 per share. The net asset value increased to $25.10 per share, a 1.8% rise from Q3. However, total net realized and unrealized loss for 2020 was $4.30 per share, a significant decline from a loss of $1.73 in 2019. The company originated about $1.9 billion in new investments in Q4 2020, a positive sign for growth.
FS KKR Capital Corp. (FSK) and FS KKR Capital Corp. II (FSKR) announced preliminary financial results for Q4 2020, reflecting an active investment environment. FSK estimates a net asset value per share of $24.95 to $25.05, up from $24.46 in Q3. Estimated net investment income per share is between $0.59 and $0.61, exceeding guidance of $0.57. FSKR estimates its net asset value per share at $25.00 to $25.10, compared to $24.66 previously, with estimated net investment income at $0.57 to $0.59, above guidance of $0.52 to $0.55. Earnings calls are scheduled for March 2, 2021.
FS/KKR Advisor announced a merger between FS KKR Capital Corp (FSK) and FS KKR Capital Corp II (FSKR) on Nov. 24, 2020. This merger will create one of the largest business development companies in the U.S., with $14.9 billion in assets and $7.2 billion in net asset value. FSK will remain as the surviving entity on NYSE under the symbol 'FSK.' The merger aims to enhance market presence, reduce expenses, and increase capital access, projected to yield approximately $5 million in annual synergies. The transaction is expected to close in the second or third quarter of 2021.
FS KKR Capital Corp. (NYSE: FSK) reported its financial results for Q3 2020, highlighting a net investment income of $0.63 per share, down from $0.89 per share in Q3 2019. The company announced a fourth quarter distribution of $0.60 per share, payable on January 5, 2021. Total fair value of investments decreased to $6.649 billion from $7.357 billion year-over-year. However, a total net gain of $1.06 per share was noted compared to a loss in the same quarter last year. The net asset value per share rose 4.7% to $24.46.
