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First Eagle Alternative Capital BDC, Inc. (NASDAQ: FCRD) and Crescent Capital BDC, Inc. (NASDAQ: CCAP) announced the Election Deadline for FCRD stockholders to choose between cash consideration or CCAP common stock as part of their merger. The deadline is set for 5:00 p.m. ET on March 2, 2023, ahead of the special stockholders' meeting scheduled for March 7, 2023. Upon merger completion, FCRD stockholders will receive consideration based on CCAP’s net asset value and an additional cash payment of $35 million from CCAP Advisor, distributed per share of FCRD. Stockholders must submit their elections on time to be eligible for their choice.
First Eagle Alternative Capital BDC (FCRD) reported its Q3 financial results for the quarter ending September 30, 2022. The company's total assets stood at $380.2 million with a net asset value per share of $5.14. Total investment income increased to $8.9 million, while net investment income rose to $3.9 million or $0.13 per share. The company declared a dividend of $0.11 per share for Q4 2022, payable on December 30, 2022. However, the company reported a net decrease in net assets from operations of $(1.5 million).
First Eagle Alternative Capital BDC (NASDAQ: FCRD) will announce its financial results for Q3 2022 on November 8, 2022, after market close. A conference call is scheduled for November 9, 2022, at 9:30 a.m. ET to discuss these results and provide a business outlook. The company focuses on generating income and capital growth by investing in middle-market debt and equity securities, primarily in companies with $5-$25 million in EBITDA. The firm is headquartered in Boston, with additional teams in major cities.
First Eagle Alternative Capital BDC (FCRD) reported its Q2 2022 financial results, showing a total investment income of $6.9 million, down from $7.8 million in Q2 2021. The company declared a dividend of $0.11 per share, payable on September 30, 2022. As of June 30, 2022, the total assets stood at $386.1 million, with a net asset value per share of $5.30. Notably, the firm faced a significant unrealized loss of $22.6 million, impacting net assets resulting from operations, which decreased by $21.4 million. The weighted average yield on investments was 6.8%.
First Eagle Alternative Credit has successfully closed its fifth direct lending fund, resulting in over $1 billion in total available capital. In the past year, the firm has raised more than $2.2 billion in direct lending capital. Emphasizing the importance of direct lending for middle market businesses, the firm targets companies with an EBITDA of $5 million to $50 million. Since its inception, FEAC has completed over 495 transactions and provided over $6.5 billion in financing solutions across key industries.
First Eagle Alternative Capital BDC, Inc. (NASDAQ: FCRD) will announce its financial results for Q2 2022 on August 9, 2022, after market close. A conference call to discuss these results and future outlook will be held on August 10, 2022, at 9:30 a.m. ET. The company focuses on investments in privately negotiated debt and equity securities of middle-market companies, specifically targeting those with annual EBITDA of $5 million to $25 million. Investors can access the conference call via the company’s website, with a replay available after the call.
First Eagle Alternative Capital BDC (FCRD) reported its Q1 2022 financial results on May 9, 2022. The company disclosed total assets of $418.3 million and a net asset value per share of $6.12. The total investment income for the quarter was $7.4 million, slightly up from $7.2 million year-over-year. However, net investment income decreased to $2.9 million, or $0.10 per share. The Board declared a dividend of $0.10 per share, payable on June 30, 2022. A notable concern was a net decrease in net assets from operations of $4.0 million due to significant unrealized losses on investments.
First Eagle Alternative Capital BDC (NASDAQ: FCRD) announces the successful closing of LJV I MM CLO LLC, a $300.6 million collateralized loan obligation (CLO) in partnership with Perspecta Trident LLC. The CLO provides flexible leverage for the Logan JV, aiming to enhance returns and facilitate further investment opportunities. The Adviser will waive management fees to maintain a minimum net investment income of $0.10 per share for Q2 2022. The CLO supports diversification by reducing equity exposure in Logan JV, allowing reinvestment in direct lending.
First Eagle Alternative Capital BDC (NASDAQ: FCRD) announced it will report its financial results for Q1 FY2022 on May 9, 2022, after market close. A conference call to discuss the results and business outlook is scheduled for May 10, 2022, at 9:30 a.m. ET. The company focuses on private debt and equity investments in middle market companies, primarily targeting those with annual EBITDA between $5 million and $25 million.
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