CNL Strategic Capital, LLC 8-K

What Happened
CNL Strategic Capital, LLC filed an 8‑K on July 24, 2026 announcing the Board’s determination of net asset value (NAV) per share for each class as of June 30, 2026, approval of new public offering prices effective July 31, 2026, and declaration of a monthly cash distribution for August. As of June 30, 2026 the Company reported aggregate NAV of $1,479,902 (amounts in thousands) — roughly $1.48 billion — and total assets of approximately $1.56 billion. NAV per share by class: Class FA $44.34, Class A $39.14, Class T $39.06, Class D $38.87, Class I $39.50, Class S $44.81; each rose modestly versus May 2026. The NAV change was driven mainly by increases in fair value for 14 of 18 portfolio investments.

Key Details

• NAV and shares (amounts in thousands): Total NAV $1,479,902; total outstanding shares 36,952 (thousands).
• New public offering prices (effective July 31, 2026): Class A $42.78, Class T $41.01, Class D $38.87, Class I $39.50. Selling commissions/dealer manager fees shown for Class A (selling $2.57, dealer manager $1.07) and Class T (selling $1.23, dealer manager $0.72).
• Declared monthly distribution for record date Aug 26, 2026, payment Aug 27, 2026: per‑share amounts — FA $0.104167; A $0.104167; T $0.083333; D $0.093750; I $0.104167; S $0.104167.
• Performance and distribution funding: YTD and trailing returns shown by class (example: Class FA YTD 4.5%, 1‑year 10.8%, annualized since inception 11.0%). For the six months ended June 30, 2026, total distributions declared were $22,584k: 55.2% funded from net investment income ($12,468k) and 44.8% from offering proceeds; cash distributions net of reinvested distributions were funded primarily by net investment income.

Why It Matters
This filing gives investors the latest NAV per share and the new public offering prices that will apply to new subscriptions at the July 31 monthly close. The declared August distribution provides the cash payout schedule and amounts by class. Importantly, nearly half of distributions declared in the six‑month period were paid from offering proceeds rather than income or realized gains, a factual point investors should monitor when assessing sustainability of current distribution levels. The filing also discloses performance history by share class and notes that NAV movement for June was driven by fair‑value changes in portfolio company investments.