TPG Twin Brook Capital Income Fund: M&A transaction — AG Twin Brook Capital Income Fund completes $193M acquisition of AG Twin Brook BDC for $20/share cash

TPG Twin Brook Capital Income Fund

Closed acquisition of AG Twin Brook BDC on July 28, 2023; each AGTB share converted to $20 cash.
Total consideration ~$193M, funded with $180M credit facility borrowings and $13M cash.
Merger approved by shareholders of both funds on July 18, 2023; both boards (including independent members) approved.
Fund is the surviving entity; both entities are affiliated BDCs managed by Angelo Gordon subsidiaries.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

TPG Twin Brook Capital Income Fund completed an acquisition involving AG Twin Brook BDC, Inc. for approximately $193 million (closed 2023-07-28).

Action: acquisition
Counterparty: AG Twin Brook BDC, Inc.
Consideration: approximately $193 million
Closing: 2023-07-28

Exact text from the filing

interest (the “Per Share Consideration”), subject to any applicable withholding taxes. The Fund paid total cash consideration in connection with the Transaction of approximately $193 million (the “Total Consideration”). The Fund funded the Total Consideration for the Transaction with $180 million of borrowings under its credit facilities and $13 million of available

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Source: SEC EDGAR

accession 0001913724-23-000080

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