Carlyle Secured Lending closes merger with CSL III; preferred stock converted to common

Carlyle Secured Lending, Inc.

Merger with CSL III completed March 27; former CSL III shareholders received 1.2137 CGBD shares per CSL III share, ~18.9M shares issued.
CIM exchanged all 2M convertible preferred shares for 3,004,808 common shares; preferred no longer outstanding.
CIM entered lock-up agreement: shares restricted for 360, 540, 720 days in three tranches; registration rights granted.
CGBD assumed $250M CSL III SPV credit facility; $206M outstanding, matures 2030, SOFR+2.85%.
Shareholders voted 96% in favor of merger stock issuance at special meeting on March 26.

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