---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-065681"
form_type: "8-K"
ticker: "PSBD"
cik: "0001794776"
company_name: "Palmer Square Capital BDC Inc."
filed_at: "2025-05-07T23:59:59+00:00"
generated_at: "2026-05-22T08:41:30.556053+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Palmer Square BDC Q1 NII $0.40/share, down 23% YoY; NAV falls to $15.85

## Summary
- Net investment income $12.9M ($0.40/share) vs $16.3M ($0.52) in Q1 2024; total investment income $31.2M, down from $34.8M.
- Net realized/unrealized loss of $21.3M vs $6.6M gain in prior-year quarter; NAV per share dropped from $16.50 to $15.85.
- Declared Q2 base dividend of $0.36/share payable July 14 to holders of record June 27; supplemental dividend expected in June.
- Portfolio yield 10.37% vs 10.65% last Q; non-accruals rose to 0.24% from 0.08%; PIK income only 1.63% of total income.
- Debt-to-equity unchanged at 1.50x; available liquidity $229.5M; new investments funded $104.3M vs repayments $144.4M.

## SEC filing metadata
- accession: 0000950170-25-065681
- form_type: 8-K
- ticker: PSBD
- cik: 0001794776
- company_name: Palmer Square Capital BDC Inc.
- filed_at: 2025-05-07T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1794776/000095017025065681/0000950170-25-065681-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1794776/000095017025065681/psbd-20250507.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-065681
- JSON: https://secwatch.observer/filing/0000950170-25-065681.json
- Plain text: https://secwatch.observer/filing/0000950170-25-065681.txt

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