Phillip Street Middle Market Lending Fund draws $52.5M via private placement of 2.6M common units

Phillip Street BDC LLC

Delivered capital drawdown notice on Jan 2, 2026 for ~2.6M common units at aggregate $52.5M.
Closing expected on or around Jan 16, 2026.
Sale exempt under Section 4(a)(2) and Regulation D/S; investors are accredited or non-U.S. persons.
Investors funded drawdowns per subscription agreements with 10 business days' notice.
No general solicitation or public offering; units offered for investment only.

Key facts

Extracted from this filing and checked against the source text.

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

Phillip Street BDC LLC issued approximately 2.6 million common units of common stock to investors for aggregate offering price of approximately $52.5 million.

Security: common stock
Shares: approximately 2.6 million common units
Purchaser: investors
Consideration: aggregate offering price of approximately $52.5 million

Exact text from the filing

On January 2, 2026, Phillip Street Middle Market Lending Fund LLC (the “Company”) delivered a capital drawdown notice to investors relating to the sale of approximately 2.6 million common units of the Company’s limited liability company interests (the “Common Units”) for an aggregate offering price of approximately $52.5 million.

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Source: SEC EDGAR

accession 0001193125-26-004530

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