SEC Comment Letter 0000000000-24-003970 to CNL Strategic Capital, LLC (CIK 0001684682)
CNL Strategic Capital, LLC (CIK 0001684682)
Date: April 11, 2024 · CIK: 0001684682 · Accession: 0000000000-24-003970
AI Filing Summary & Sentiment
File numbers found in text: 333-277103
Letter
United States securities and exchange commission logo April 11, 2024 Chirag J. Bhavsar Chief Executive Officer CNL Strategic Capital, LLC 450 South Orange Avenue Orlando, FL 32801 Re:CNL Strategic Capital, LLC Registration Statement on Form S-1 Correspondence filed March 29, 2024 File No. 333-277103 Dear Chirag J. Bhavsar: We have reviewed your amended registration statement and have the following comment. Please respond to this letter by amending your registration statement and providing the requested information. If you do not believe a comment applies to your facts and circumstances or do not believe an amendment is appropriate, please tell us why in your response. After reviewing any amendment to your registration statement and the information you provide in response to this letter, we may have additional comments. Unless we note otherwise, any references to prior comments are to comments in our March 13, 2024 letter. Correspondence filed March 29, 2024 Prospectus Summary Will there be a liquidity event for shareholders, page 13 1.We note your response to prior comment 1. Please disclose the possibility that a liquidity event can occur shortly after the offering. In that regard, please also add some clarifying language to indicate that the liquidity event can occur at anytime, on or before November 1, 2027.
FirstName LastNameChirag J. Bhavsar Comapany NameCNL Strategic Capital, LLC April 11, 2024 Page 2 FirstName LastName Chirag J. Bhavsar CNL Strategic Capital, LLC April 11, 2024 Page 2 Please contact John Stickel at 202-551-3324 or Susan Block at 202-551-3210 with any other questions. Sincerely, Division of Corporation Finance Office of Finance
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United States securities and exchange commission logo
April 11, 2024
Chirag J. Bhavsar
Chief Executive Officer
CNL Strategic Capital, LLC
450 South Orange Avenue
Orlando, FL 32801
Re:CNL Strategic Capital, LLC
Registration Statement on Form S-1
Correspondence filed March 29, 2024
File No. 333-277103
Dear Chirag J. Bhavsar:
We have reviewed your amended registration statement and have the following comment.
Please respond to this letter by amending your registration statement and providing the
requested information. If you do not believe a comment applies to your facts and circumstances
or do not believe an amendment is appropriate, please tell us why in your response.
After reviewing any amendment to your registration statement and the information you
provide in response to this letter, we may have additional comments. Unless we note otherwise,
any references to prior comments are to comments in our March 13, 2024 letter.
Correspondence filed March 29, 2024
Prospectus Summary
Will there be a liquidity event for shareholders, page 13
1.We note your response to prior comment 1. Please disclose the possibility that a liquidity
event can occur shortly after the offering. In that regard, please also add some clarifying
language to indicate that the liquidity event can occur at anytime, on or before November
1, 2027.
FirstName LastNameChirag J. Bhavsar
Comapany NameCNL Strategic Capital, LLC
April 11, 2024 Page 2
FirstName LastName
Chirag J. Bhavsar
CNL Strategic Capital, LLC
April 11, 2024
Page 2
Please contact John Stickel at 202-551-3324 or Susan Block at 202-551-3210 with any
other questions.
Sincerely,
Division of Corporation Finance
Office of Finance