---
schema_version: "secwatch.filing_event.v1"
accession: "0001999371-26-011900"
form_type: "8-K"
ticker: null
cik: "0001684682"
company_name: "CNL Strategic Capital, LLC"
filed_at: "2026-06-02T20:04:39+00:00"
generated_at: "2026-06-02T20:06:19.525889+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Shareholders reject enhanced liquidity plan (25% repurchase); loan amended for equity buybacks

## Summary
- Enhanced liquidity plan for repurchase of up to 25% of shares failed; required 2/3 of outstanding shares, received 20.1M for vs 510k against, 925k withheld (21.5M voted).
- Company will maintain existing share repurchase program at up to 10% of NAV per year; states program has met all requests to date.
- Third Amendment to $50M revolver with Valley National Bank extends maturity to August 15, 2026; bank may increase line to $100M.
- Loan now permits equity repurchases up to 90% of trailing six months' new net investment proceeds; $62,500 amendment fee paid.
- Board will continue evaluating capital-raising options beyond the continuous public offering (expires November 1, 2027).

## SEC filing metadata
- accession: 0001999371-26-011900
- form_type: 8-K
- cik: 0001684682
- company_name: CNL Strategic Capital, LLC
- filed_at: 2026-06-02T20:04:39+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 5.07, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1684682/000199937126011900/0001999371-26-011900-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1684682/000199937126011900/cnl-8k_052726.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001999371-26-011900
- JSON: https://secwatch.observer/filing/0001999371-26-011900.json
- Plain text: https://secwatch.observer/filing/0001999371-26-011900.txt

## Source-grounded claims
- claim_id: a1e0dd7739b6576e82853d2faeed9fa31b81be18
  claim: CNL Strategic Capital, LLC amended Third Amendment with Valley National Bank (effective 2026-05-29).
  evidence_excerpt: On May 29, 2026, CNL Strategic Capital B, Inc. (the “Borrower”), a wholly-owned subsidiary of CNL Strategic Capital, LLC (the “Company”), and Valley National Bank, a Tennessee banking corporation (referred to as “Valley National Bank”), entered into a Third Amendment (the “Third Amendment”) to the Loan and Security Agreement, as amended (the “Loan Agreement”), previously entered into by such parties for a $50.0 million revolving line of credit (the “Line of Credit”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1684682/000199937126011900/0001999371-26-011900-index.htm
- claim_id: 8ccc4b601b7b3833defd148005e4f0a449e87d10
  claim: CNL Strategic Capital, LLC shareholders rejected Approval of an enhanced liquidity plan under which the Company undertakes to repurchase from shareholders during the first four full calendar quarters following the approval of this proposal at the 2026-05-27 meeting.
  evidence_excerpt: Proposal 1: Approval of an enhanced liquidity plan under which the Company undertakes to repurchase from shareholders during the first four full calendar quarters following the approval of this proposal (the “enhanced liquidity period”) up to a requested liquidity percentage to be established following the approval of this proposal. This proposal was not passed, with voting results as follows: For Against Withheld 20,122,701 510,255 925,448
  evidence_url: https://www.sec.gov/Archives/edgar/data/1684682/000199937126011900/0001999371-26-011900-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.