secwatch.observer — SEC 8-K summary
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Issuer:     Phillip Street BDC LLC (—)
CIK:        0001948368
Form:       8-K
Filed at:   2025-12-30T23:59:59+00:00
Accession:  0001193125-25-337134
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 3.02
LLM model:  deepseek-v4-flash:cloud@v2

Phillip Street Middle Market sells ~1.86M common units for $37.5M in private placement
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- Sold 1,860,119.048 common units at aggregate offering price of $37.5 million; closed December 22, 2025.
- Offering exempt under Section 4(a)(2) of Securities Act and Regulation D/S; purchasers were accredited investors or non-U.S. persons.
- Investors funded drawdowns per subscription agreements with minimum ten business days' prior notice.
- No general solicitation or advertising used; units acquired for investment, not resale.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1948368/000119312525337134/0001193125-25-337134-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1948368/000119312525337134/d75114d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-337134

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer