HMS Income Fund (“HMSIF”), a publicly registered, non-traded business development company, announced a suspension of its share repurchase program and decreased its monthly distribution reinvestment plan share sale price, citing the COVID-19 pandemic.
HMSIF will suspend repurchases for the second quarter of 2020 and will reevaluate its program depending on circumstances going forward. HMSIF also announced a reduction of the price at which it sells shares to investor pursuant to its monthly distribution reinvestment plan (known as a “DRIP”) from $7.80 to $6.65 a share beginning with the April 1, 2020 distribution.
HMSIF focuses on loans and investment in small and mid-size companies throughout the United States. HMSIF reportedly has raised approximately $236.3 million in its public offerings including proceeds from the DRIP of approximately $104.6 million.