UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to section 13 or 15(d)
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Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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| Item 2.01 | Completion of Acquisition or Disposition of Assets |
On December 9, 2021, CNL Strategic Capital, LLC (referred to herein as “we”, “us”, “our” or the “Company”), through its wholly-owned subsidiary, Clarion Strategic Capital EquityCo, LLC, completed its acquisition of a controlling interest in Clarion Safety Systems, LLC (“Clarion”).
The Company hereby amends the Current Report on Form 8-K originally filed on December 9, 2021 to include the unaudited summarized financial statements of Clarion.
| Item 9.01 | Financial Statements and Exhibits |
(a) Financial Statements of Business Acquired
The following tables present unaudited summarized operating data for Clarion for the nine months ended September 30, 2021 and 2020, and the year ended December 31, 2020, and unaudited summarized balance sheet data as of September 30, 2021 and December 31, 2020:
Summarized Operating Data (Unaudited)
Nine Months Ended September 30, | Year Ended December 31, | |||||||||||
| 2021 | 2020 | 2020 | ||||||||||
| Revenues | $ | 9,385,300 | $ | 7,180,567 | $ | 9,909,308 | ||||||
| Expenses | (5,549,260 | ) | (4,769,732 | ) | (6,576,727 | ) | ||||||
| Net income | $ | 3,836,040 | $ | 2,410,835 | $ | 3,332,581 | ||||||
Summarized Balance Sheet Data (Unaudited)
| September 30, 2021 | December 31, 2020 | |||||||
| Current assets | $ | 3,784,520 | $ | 2,672,238 | ||||
| Non-current assets | 16,795,208 | 16,780,290 | ||||||
| Current liabilities | 1,951,069 | 1,962,896 | ||||||
| Non-current liabilities | 4,926,644 | 5,898,657 | ||||||
| Stockholders’ equity | 13,702,015 | 11,590,975 | ||||||
SIGNATURE
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.
| CNL STRATEGIC CAPITAL, LLC | |||
| a Delaware limited liability company | |||
| Date: January 21, 2022 | By: | /s/ Tammy J. Tipton | |
| TAMMY J. TIPTON | |||
| Chief Financial Officer | |||
| (Principal Financial and Accounting Officer) | |||