FS Specialty Lending Fund board rejects Cox Capital mini-tender at $11.50, 42% below NAV

FS Specialty Lending Fund

Unsolicited mini-tender at $11.50/share, 42% below NAV of $19.82 (June 30, 2025).
Offer expires Oct 10, 2025; board unanimously recommends rejection.
Purchasers: Cox Capital Partners Special Situations Fund, GCM Grosvenor entities.
Board, officers not tendering; company plans NYSE listing before end of Q4 2025.
Current distribution rate 12.5% annualized; selling forfeits future distributions and appreciation.

item 8.01item 9.01

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