M&A
confidence high
sentiment positive
materiality 0.80
SLRC and SUNS agree to merge; SUNS shareholders to receive SLRC shares based on NAV
SLR Investment Corp.
- SLRC to acquire SUNS in stock-for-stock merger; illustrative exchange ratio 0.7763 SLRC shares per SUNS share based on 9/30/21 NAV.
- Combined company to have over $2B in assets across 125+ portfolio companies; expected close in H1 2022.
- Base management fee reduced by 25 bps to 1.50% on assets up to 200% of net assets; SLRC quarterly distribution expected at $0.41.
- Pro forma ownership: 77.2% SLRC / 22.8% SUNS stockholders; merger intended to be tax-free reorganization.