---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-065938"
form_type: "8-K"
ticker: "CGBD"
cik: "0001544206"
company_name: "Carlyle Secured Lending, Inc."
filed_at: "2025-03-28T23:59:59+00:00"
generated_at: "2026-05-24T03:03:04.258130+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-25-065938
- form_type: 8-K
- ticker: CGBD
- cik: 0001544206
- company_name: Carlyle Secured Lending, Inc.
- filed_at: 2025-03-28T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.01, 3.02, 5.07, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1544206/000119312525065938/0001193125-25-065938-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1544206/000119312525065938/d906363d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-065938
- JSON: https://secwatch.observer/filing/0001193125-25-065938.json
- Plain text: https://secwatch.observer/filing/0001193125-25-065938.txt

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