NGP Capital Resources arranges $5 million private placement of stock

OHA buys common stock at price equal to the net asset value per share

By Devika Patel

Knoxville, Tenn., July 21 – NGP Capital Resources Co. arranged a $5 million private placement of stock with OHA BDC Investor, LLC on July 21, according to an 8-K filed Monday with the Securities and Exchange Commission. Oak Hill Advisors, LP is the agent.

The company will initially sell $1 million of common shares to OHA at a price equal to the net asset value per share of the stock as determined by the company’s board of directors within 48 hours of closing. The remaining $4 million of stock will be sold over the course of one year.

NGP is a Houston-based management investment company that invests primarily in small and mid-sized private energy companies.

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