From Pulse 2.0 · Amit Chowdhry · · 1m
BCP Investment Merges With Investcorp Credit Management BDC
BCP Investment Corporation merges with Investcorp Credit Management BDC to boost scale and trading liquidity.
In brief
BCP Investment Corporation merges with Investcorp Credit Management BDC to boost scale and trading liquidity. BCP Investment Corporation merges with Investcorp Credit Management BDC to increase scale, reduce costs, and improve trading liquidity for shareholders. Originally reported by Pulse 2.0.
Merger Agreement
BCP Investment Corporation agreed to merge with Investcorp Credit Management BDC to reduce expenses, improve financing economics, and increase trading liquidity.
Shareholder Approval
Shareholders representing approximately 41% of outstanding shares as of November 9 agreed to support the transaction.
Shareholder Consideration
Investcorp Credit Management BDC shareholders will receive 90% of closing net asset value, subject to adjustments for transaction expenses, debt repayment, and tax items.
Share Issuance Details
Share issuance is capped at 19.99% of BCP’s outstanding common stock at signing, with remaining consideration paid in cash.
Valuation Metrics
Using adjusted September 30 net asset values, the companies calculated consideration of approximately $2.49 per share on a net asset value basis.
The headline
BCP Investment Corporation merges with Investcorp Credit Management BDC to increase scale, reduce costs, and improve trading liquidity for shareholders.
