MISSION WOODS, Kan., Jan. 8, 2024 — Palmer Square Capital BDC Inc. (“Palmer Square“), an externally managed business development company, today announced that it has commenced an initial public offering of 5,450,000 shares of its common stock. The initial public offering price per share of the common stock is expected to be $16.45. Palmer Square has applied to have its common stock approved for listing on the New York Stock Exchange under the symbol “PSBD.” Palmer Square expects to grant the underwriters an option to purchase up to an additional 817,500 shares of common stock to cover over-allotments, if any. The completion of the proposed offering depends upon several factors, including market and other conditions, and there can be no assurance as to whether or when the proposed offering may be completed, or as to the actual size or terms of the proposed offering.
Palmer Square intends to use the net proceeds from this offering to make investments in accordance with its investment objectives and strategies.
J.P. Morgan, BofA Securities, RBC Capital Markets, UBS Investment Bank and Citigroup are acting as joint book-running managers for this offering, and Janney Montgomery Scott, Oppenheimer & Co. and Clear Street are acting as co-managers for this offering.
A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission (the “SEC”) but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective. This press release will not constitute an offer to sell or the solicitation of an offer to buy the securities described above nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to their registration or qualification under the securities laws of any such state or jurisdiction.
The offering of these securities will be made only by means of a prospectus forming a part of the registration statement. Copies of the preliminary prospectus relating to this offering may be obtained, when available, from: J.P. Morgan, 383 Madison Avenue, New York, NY 10179, BofA Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attn: Prospectus Department Email: [email protected], RBC Capital Markets, 200 Vesey Street, 8th Floor, New York, NY 10281, Attn: Prospectus Department by telephone at 877-822-4089 or by email at [email protected], UBS Investment Bank, 1285 Avenue of the Americas, New York, NY 10019 or Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at 1-800-831-9146.
Investors are advised to carefully consider the investment objectives, risks and charges and expenses of Palmer Square before investing. The preliminary prospectus dated January 8, 2024 contains this and other information about Palmer Square and should be read carefully before investing. The information in the preliminary prospectus is not complete and may be changed.
About Palmer Square Capital BDC Inc.
Palmer Square is an externally managed, non-diversified closed-end management investment company that primarily lends to and invests in corporate debt securities, including small to large private U.S. companies, and has elected to be regulated as a business development company under the Investment Company Act of 1940. Palmer Square’s investment objective is to maximize total return, comprised of current income and capital appreciation. Palmer Square’s current investment focus is guided by two strategies that facilitate its investment opportunities and core competencies: (1) investing in corporate debt securities and, to a lesser extent, (2) investing in collateralized loan obligation structured credit funds, or “CLOs”, that typically own corporate debt securities, including in the equity and junior debt tranches of CLOs. Palmer Square may also receive warrants or other rights to acquire equity or similar securities or otherwise purchase such securities in connection with making a debt investment in a company.
Forward-Looking Statements
Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties, including the impact of the economy, financial markets, our business, our portfolio companies and our industry. The forward-looking statements in this press release may include statements as to timing, size and other terms of the proposed offering and the anticipated use of the net proceeds from this offering. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Palmer Square’s filings with the SEC. Palmer Square undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release. Although Palmer Square undertakes no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise, you are advised to consult any additional disclosures that Palmer Square may make directly to you or through reports that in the future may be filed with the SEC, including annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K.
Contact
Scott A. Betz
Chief Compliance Officer
Palmer Square Capital BDC Inc.
[email protected]
SOURCE Palmer Square Capital BDC Inc.
