Source Capital Inc. Cmn Shs of BI filed SEC Form 8-K: Other Events, Financial Statements and Exhibits
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Item 8.01 Other Events
The Board of Trustees (the “Board”) of Source Capital (NYSE: SOR) (the “Fund”), announced that for the Fund’s Discount Management Program (the “Program”) measurement period from January 1, 2025 through December 31, 2025, the Fund traded at an average discount to net asset value (NAV) of less than 10%. In fact, the Fund traded at a premium during the fourth quarter, peaking at a premium to NAV of 1.20% on November 28, 2025. As a result of the average discount to NAV remaining under 10%, the tender offer for calendar year 2025 under the Fund’s Program will not occur.
In addition to the contingent tender offer in place for calendar year 2026 (as described in the January 16, 2025 press release), the Board approved a contingent tender offer for calendar year 2027. Under the terms of the updated Program, the Board approved extending the Program through the year ending December 31, 2027. Under the Program’s extension, the Fund will conduct a tender offer for 10% of the Fund’s outstanding shares of common stock at a price equal to 98% of NAV per share if its shares trade at an average discount to NAV of more than 10% during the measurement period from January 1, 2027 through December 31, 2027. Should a tender offer be required it shall close no later than June 30, 2028. In the future, the Board may determine to extend the Program beyond 2027.
These matters are more fully described in the press release published on January 16, 2026, which is attached to this Current Report on Form 8-K as Exhibit 99.1
Item 9.01 Financial Statements and Exhibits
| Exhibit No. | Description | |
| 99.1 | Press release dated January 16, 2026 |
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.
| Source Capital | ||
| (Registrant) | ||
| /s/ Diane Drake | ||
| Name: | Diane Drake | |
| Title: | Secretary | |
| Dated: January 30, 2026 | ||
| Exhibit No. | Description | |
| 99.1 | Press release dated January 16, 2026 |