GOLUB CAPITAL BDC, Inc. (GBDC): M&A transaction — Golub Capital BDC closes merger with GBDC 3, issues special distributions totaling $0.15/share

GOLUB CAPITAL BDC, Inc.

GBDC issued 0.9138 shares per GBDC 3 share; transaction estimated 2.1% accretive to GBDC NAV as of March 31, 2024.
GBDC pro forma total assets $8.8B, investments in 367 portfolio companies; fifth-largest externally managed BDC by assets.
Investment adviser GC Advisors permanently cut incentive fee rate from 20% to 15%; cumulative cap and 8% hurdle remain.
Board declared special distributions totaling $0.15 per share in three quarterly $0.05 payments starting June 27, 2024.
GBDC stock closed at $16.57 on May 31, 2024; GBDC 3 NAV per share estimated at $14.70 as of that date.

item 1.01 item 1.02 item 2.01 item 2.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

GOLUB CAPITAL BDC, Inc. underwent a change of control involving Golub Capital BDC 3, Inc. for 0.9138 shares of common stock per GBDC 3 share (closed 2024-06-03).

Action: change of control
Counterparty: Golub Capital BDC 3, Inc.
Consideration: 0.9138 shares of common stock per GBDC 3 share
Closing: 2024-06-03

Exact text from the filing

On June 3, 2024, the Company completed its previously announced acquisition of Golub Capital BDC 3, Inc., a Maryland corporation (“GBDC 3”), pursuant to that certain Agreement and Plan of Merger (as amended, the “Merger Agreement”), dated as of January 16, 2024, by and among the Company, GBDC 3, Park Avenue Subsidiary Inc., a Maryland corporation and wholly owned subsidiary of the Company (“Merger Sub”), GC Advisors, a Delaware limited liability company and investment adviser to each of the Company and GBDC 3, and, for certain limited purposes, Golub Capital LLC.

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GOLUB CAPITAL BDC, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-067549

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