CNL Strategic Capital, LLC 8-K

What Happened
CNL Strategic Capital filed an 8‑K on May 22, 2026 reporting the Company’s net asset value (NAV) per share by class as of April 30, 2026 (amounts in the filing table are in thousands). The Board determined NAV consistent with the prospectus valuation policy, approved new per‑share public offering prices effective May 29, 2026, and declared monthly cash distributions with a June 26, 2026 record date and June 29, 2026 payment date. The Board noted NAV changes were mainly driven by fair value increases in 10 of 18 portfolio investments; total assets were approximately $1.50 billion as of April 30, 2026.

Key Details

• NAV (amounts in thousands) and outstanding shares (in thousands): aggregate NAV by class — Class FA $159,709; Class A $360,049; Class T $75,824; Class D $114,665; Class I $683,031; Class S $73,690; Total NAV $1,466,968. Total outstanding shares (in thousands): 37,122.
• NAV per share (April 30, 2026) and month change: Class FA $43.63 (+$0.05); Class A $38.61 (no change); Class T $38.53 (-$0.01); Class D $38.33 (no change); Class I $39.02 (-$0.01); Class S $44.11 (+$0.04).
• New public offering prices (effective May 29, 2026): Class A $42.20; Class T $40.45; Class D $38.33; Class I $39.02. Upfront selling commissions: Class A $2.53/share, Class T $1.21/share. Dealer manager fees: Class A $1.06/share, Class T $0.71/share.
• Distribution declared (record date June 26, payment June 29, 2026): Class FA/A/I/S $0.104167/share; Class T $0.083333/share; Class D $0.093750/share.
• Performance and funding: YTD returns (through Apr 30, 2026) around 1.9%–2.4% across classes; 1‑year returns about 8.9%–10.8% depending on class. For the four months ended Apr 30, 2026 total distributions declared were $14,958k: net investment income funded $8,125k (54.3%) and offering proceeds funded $6,833k (45.7%).

Why It Matters

• NAV updates show recent portfolio valuation changes and the small per‑share NAV moves reflect gains in several private investments; investors watch NAV for fund performance and liquidity valuation.
• The Board’s new public offering prices and disclosed selling commissions/fees determine what new investors will pay (and the upfront costs charged), and distribution reinvestment purchases use the April 30 NAV.
• Distributions are partly funded by offering proceeds (45.7% for the four months ended Apr 30, 2026), not solely by investment income—important for investors who track sustainability of payouts.
• The filing includes standard forward‑looking disclaimers; past performance and current NAV may change and are not guarantees of future results.