On August 14, 2019, Crescent Capital BDC, Inc. and Alcentra Capital Corporation announced that they have entered into a definitive merger agreement under which Crescent Capital will acquire the Company. The Company stated that the transaction is the result of the Company's previously announced review of strategic alternatives led by an independent director committee of its board of directors, and has been unanimously approved by the Committee of Independent Directors, the independent directors of Crescent Capital and the boards of directors of both companies. The Company also stated that consummation of Crescent Capital's acquisition of the Company is subject to the Company’s stockholder approval, customary regulatory approvals, and other closing conditions. The Company added that the transaction is expected to close in the fourth quarter of 2019.