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Flat Rock Opportunity Fund Declares Special Distribution

The board of Flat Rock Opportunity Fund (Ticker: FROPX), a closed-end interval fund investing in collateralized loan obligations, has declared a special distribution.

The board of Flat Rock Opportunity Fund (Ticker: FROPX), a closed-end interval fund investing in collateralized loan obligations, has declared a special distribution of $0.35 per share, which will paid on May 18th to shareholders of record at the close of business on May 16th.

The closing price of the fund was $22.07 per share, as of March 31, 2022. Its current regular monthly distribution rate is $0.221 per share, and the fund has increased its distribution rate since inception, most recently in August 2021 from $0.183 to $0.221 per share.

“Flat Rock Opportunity Fund had a strong first quarter, and we continue to see exciting investment opportunities while remaining highly selective in our approach,” said Robert Grunewald, founder and chief executive officer of Flat Rock Global. “We are pleased that the fund’s performance allows us to provide a $0.35 special dividend.”

Flat Rock Opportunity Fund invests primarily in equity and in junior debt tranches of CLOs, which provide exposure to senior secured loans on a leveraged basis. As of March 31, 2022, the distribution rate was 12.01 percent. The fund had more than $230 million of assets at fair market value on December 31, 2021.

Flat Rock funds are available to clients of registered investment advisers, family offices, and institutional investors.

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