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
September 22, 2011
Date of Report (Date of earliest event reported)
NewStar Financial, Inc.
(Exact name of registrant as specified in its charter)
| Delaware | 001-33211 | 54-2157878 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
500 Boylston Street, Suite 1250, Boston, MA 02116
(Address of principal executive offices) (Zip Code)
(617) 848-2500
(Registrant’s telephone number, including area code)
N/A
(Former name or former address, if changed since last report.)
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 7.01 | Regulation FD Disclosure. |
On September 22, 2011, NewStar Financial, Inc. (the “Company”) received notice from Natixis Financial Products LLC (“NATIXIS”) that NATIXIS elected to extend the revolving period under the Amended and Restated Secured Loan and Servicing Agreement, dated as of May 4, 2010, by and among NewStar Short-Term Funding LLC as the borrower, the Company as the originator and as the servicer, MMP-7 Funding, LLC as the lender, NATIXIS as the Administrative Agent, and U.S. Bank National Association as the trustee from September 23, 2011 to October 23, 2011.
The Company expects to enter into an agreement with NATIXIS to further extend the revolving period of the credit facility on or before October 23, 2011, and NATIXIS has the ability, in its discretion, to further extend the revolving period for any period of time up to May 19, 2012. If the Company and NATIXIS do not agree on terms to extend the revolving period on or before October 23, 2011, and NATIXIS does not otherwise elect to extend the revolving period, the Company’s ability to make new borrowings under the facility will terminate. The facility had an outstanding balance of $12.0 million on September 22, 2011.
Important Cautionary Statement About Forward-Looking Statements
The information in this report contains forward-looking statements, including statements regarding the Company’s intention to enter into an agreement to extend its credit facility with NATIXIS. There can be no assurance that the Company will extend this facility. Statements that do not describe historical or current facts, including statements about beliefs and expectations, are forward-looking statements. These statements often include the words “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “targets,” “initiatives,” “potentially,” “probably,” “projects,” “outlook” or similar expressions or future conditional verbs such as “may,” “will,” “should,” “would,” and “could.” Such statements are based upon the current beliefs and expectations of management and on information currently available to management. The forward-looking statements are intended to be subject to the safe harbor provided by Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements speak as of the date hereof, and the Company does not assume any obligation to update the statements made herein or to update the reasons why actual results could differ from those contained in such statements in light of new information or future events. Forward-looking statements are subject to significant risks and uncertainties. Investors are cautioned against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Factors that could cause actual results to differ materially from those described in the forward-looking statements include the Company’s ability to come to terms with NATIXIS on the terms of an extension, in addition to those factors that can be found in the Company’s filings with the Securities and Exchange Commission, including Item 1A (“Risk Factors”) of its Annual Report on Form 10-K for the year ended December 31, 2010, as supplemented by the Risk Factors contained in its Quarterly Reports on Form 10-Q, and are incorporated by reference herein.
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.
| NEWSTAR FINANCIAL INC. | ||||
| Date: September 23, 2011 |
By: | /s/ JOHN KIRBY BRAY | ||
| John Kirby Bray | ||||
| Chief Financial Officer | ||||