Kayne Anderson BDC, Inc. Files 8-K on Equity Sales

TL;DR

KAYNE reports on equity sales, check the 8-K for details.

AI Summary

On April 1, 2024, Kayne Anderson BDC, Inc. reported on unregistered sales of equity securities. The filing also covered other events and financial statements/exhibits. The company, incorporated in Delaware, is headquartered in Houston, Texas.

Why It Matters

This filing provides updates on the company's equity activities and financial reporting, which can influence investor decisions.

Risk Assessment

Risk Level: low — The filing is a routine disclosure of corporate events and financial information, not indicating immediate financial distress or significant new risks.

Key Players & Entities

• Kayne Anderson BDC, Inc. (company) — Registrant
• Delaware (jurisdiction) — State of incorporation
• Houston, TX (location) — Principal executive offices
• April 1, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $269.9 million — ck") for an aggregate offering price of $269.9 million. The sale of such shares of Common Stoc
• $1,046.9 million — for an aggregate capital commitment of $1,046.9 million to purchase shares of common stock. Fol
• $50 million — terminated the remaining commitment of $50 million under its credit agreement (the "Subscr
• $455 million — CF increased the commitment amount from $455 million to $600 million. The end of the reinves
• $600 million — commitment amount from $455 million to $600 million. The end of the reinvestment period was

Filing Documents

• ea0203422-8k_kayne.htm (8-K) — 29KB
• ea020342201ex10-1_kayne.htm (EX-10.1) — 1311KB
• 0001213900-24-030899.txt ( ) — 1747KB
• cik0001747172-20240401.xsd (EX-101.SCH) — 3KB
• cik0001747172-20240401_lab.xml (EX-101.LAB) — 33KB
• cik0001747172-20240401_pre.xml (EX-101.PRE) — 22KB
• ea0203422-8k_kayne_htm.xml (XML) — 3KB

02 Unregistered Sales of Equity Securities

Item 3.02 Unregistered Sales of Equity Securities. On April 2, 2024, Kayne Anderson BDC, Inc. (the "Company") sold shares of its common stock ("Common Stock") for an aggregate offering price of $269.9 million. The sale of such shares of Common Stock relates to existing subscription agreements that the Company had entered into with investors for an aggregate capital commitment of $1,046.9 million to purchase shares of common stock. Following this final capital call and issuance of shares of the Company's common stock, the investors' obligations to purchase additional shares of common stock was completed, and the Company will not have any remaining undrawn capital commitments. No underwriting discounts or commissions have been or will be paid in connection with the sale of such shares of Common Stock. The sale of Common Stock is being made pursuant to subscription agreements entered into by the Company and its stockholders. Under the terms of the subscription agreements, stockholders are required to fund drawdowns to purchase shares of Common Stock up to the amount of their respective capital commitments on an as-needed basis with a minimum of ten days' prior notice to stockholders. This issuance of the Common Stock is exempt from the registration requirements of the Securities Act of 1933, as amended, (the "Securities Act") pursuant to Section 4(a)(2) thereof and Regulation D thereunder. The Company relied, in part, upon representations from the stockholders in the subscription agreements that each stockholder was an accredited investor as defined in Regulation D under the Securities Act.

01 Other Events

Item 8.01 Other Events. Subscription Credit Agreement On April 1, 2024, the Company fully repaid all amounts outstanding and terminated the remaining commitment of $50 million under its credit agreement (the "Subscription Credit Agreement") that was scheduled to mature on December 31, 2024. Revolving Funding Facility On April 3, 2024, the Company and Kayne Anderson BDC Financing LLC ("KABDCF"), a wholly-owned, special purpose financing subsidiary, amended their existing senior secured revolving funding facility (the "Revolving Funding Facility"). Under the terms of the third amendment, the Company and KABDCF increased the commitment amount from $455 million to $600 million. The end of the reinvestment period was extended to April 2, 2027 and the maturity date was extended to April 3, 2029. The interest rate on the Revolving Funding Facility was reduced from daily Secured Overnight Funding Rate ("SOFR") plus 2.75% per annum to SOFR plus 2.375% - 2.50% per annum depending on the mix of loans securing the Revolving Funding Facility. All other terms of the Revolving Funding Facility remain substantially the same.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 10.1 Third Amendment to Loan and Security Agreement, dated April 3, 2024, by and between KA Credit Advisors, LLC, as collateral manager, Kayne Anderson BDC Financing, LLC, as borrower, certain lenders thereto, administrative agent for the lenders, and collateral agent for the lenders 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 1 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. KAYNE ANDERSON BDC, INC. Date: April 5, 2024 By: /s/ Terry A. Hart Name: Terry A. Hart Title: Chief Financial Officer and Treasurer 2

View Full Filing

View this 8-K filing on SEC EDGAR