---
schema_version: "secwatch.filing_event.v1"
accession: "0001666384-23-000044"
form_type: "8-K"
ticker: null
cik: "0001666384"
company_name: "AG Twin Brook BDC, Inc."
filed_at: "2023-07-28T23:59:59+00:00"
generated_at: "2026-06-12T23:06:36.297653+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# AG Twin Brook BDC acquired by TCAP for $20/share cash; special dividend of $0.7556 declared

## Summary
- Merger with AG Twin Brook Capital Income Fund closed July 28, 2023; each share converted to $20 cash.
- Total cash consideration ~$193 million, funded by $180M credit facility borrowings and $13M cash on hand.
- Special dividend of $0.7556 per share declared July 27, payable July 28 to stockholders of record July 27.
- Transaction approved by TCAP shareholders and AG Twin Brook BDC stockholders at July 18 special meetings.

## SEC filing metadata
- accession: 0001666384-23-000044
- form_type: 8-K
- cik: 0001666384
- company_name: AG Twin Brook BDC, Inc.
- filed_at: 2023-07-28T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 2.01, 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1666384/000166638423000044/0001666384-23-000044-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1666384/000166638423000044/agtb-20230728.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001666384-23-000044
- JSON: https://secwatch.observer/filing/0001666384-23-000044.json
- Plain text: https://secwatch.observer/filing/0001666384-23-000044.txt

## Key facts
- M&A Transactions
  AG Twin Brook BDC, Inc. underwent a change of control involving AG Twin Brook Capital Income Fund for $20 per share in cash (closed 2023-07-28).
  - Action: change of control
  - Counterparty: AG Twin Brook Capital Income Fund
  - Consideration: $20 per share in cash
  - Closing: 2023-07-28
  source text: of common stock, par value $0.001 per share, of the Company (the “Common Stock”) outstanding immediately prior to the Effective Time was converted into the right to receive $20 per share in cash, without interest (the “Per Share Consideration”), subject to any applicable withholding taxes. TCAP paid total cash consideration in connection with the
  evidence_url: https://www.sec.gov/Archives/edgar/data/1666384/000166638423000044/0001666384-23-000044-index.htm

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