Crescent Capital Bdc Inc Stock Price, News & Analysis

Crescent Capital BDC (NASDAQ: CCAP) has completed its merger with First Eagle Alternative Capital BDC (formerly NASDAQ: FCRD), creating a combined entity with over $1.6 billion in assets. As part of the merger, First Eagle BDC stockholders will receive $0.29 in cash, 0.20635 shares of Crescent BDC, and $1.17 in cash for transaction support. Crescent BDC’s net asset value per share was $19.91 as of March 7, 2023. The merger aims to enhance market presence, increase capital access, and diversify assets while being accretive to core earnings. Additionally, Sun Life Financial will purchase up to $20 million of the combined company’s common stock.

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.

Crescent Capital BDC (NASDAQ: CCAP) reported a net investment income of $59.7 million or $1.93 per share for 2022, alongside an adjusted net investment income of $53.4 million or $1.73 per share. The fourth quarter net investment income was $16.1 million, $0.52 per share, maintaining the quarterly dividend at $0.41 per share for Q1 2023, payable on April 17. As of December 31, 2022, net asset value per share was $19.83. The company invested $308 million in 2022, a decline from $647.4 million in 2021, with total expenses rising to $57 million due to increased debt costs.

Crescent Capital BDC, Inc. (NASDAQ: CCAP) announced it will release its financial results for Q4 and the fiscal year ended December 31, 2022, on February 22, 2023, after market close. A webcast and conference call to discuss these results are scheduled for February 23, 2023, at 12:00 p.m. ET. Interested participants can join the call via the toll-free number (888) 396-8049 using Conference ID 56871279. Crescent BDC aims to maximize stockholder returns through capital solutions for middle-market companies. The company is externally managed by Crescent Cap Advisors and complies with the Investment Company Act of 1940.

Crescent Capital BDC (CCAP) reported a net investment income of $16.0 million ($0.52/share) for Q3 2022, reflecting an increase from $15.5 million in Q2 2022. Adjusted net investment income stood at $13.0 million ($0.42/share). The net asset value per share decreased to $20.16 from $20.69 in Q2. The company declared a cash dividend of $0.41 per share for Q4 2022, payable January 17, 2023. Total investments rose to $1.292 billion, with a portfolio yield of 9.5%. However, net realized losses were $2.5 million, and unrealized losses totaled $15.8 million.

Crescent Capital BDC, Inc. (NASDAQ: CCAP) will announce its third-quarter financial results for the period ending September 30, 2022, on November 9, 2022, after market close. A conference call is scheduled for November 10, 2022, at 12:00 p.m. ET to discuss these results. The earnings call can be accessed via the company's Investor Relations website. Crescent BDC aims to maximize returns for stockholders through capital solutions for middle-market companies with strong fundamentals.

Crescent Capital BDC (CCAP) has announced a definitive merger agreement to acquire First Eagle Alternative Capital BDC (FCRD). This merger, valued at approximately $180.1 million, is set to enhance Crescent’s portfolio, projected to combine approximately $1.6 billion in investments. First Eagle BDC shareholders will receive cash and Crescent BDC shares as part of the merger. The transaction is expected to close in the fourth quarter of 2022, pending regulatory and shareholder approvals.

Crescent Capital BDC reported a net investment income of $15.5 million ($0.50 per share) for Q2 2022, up from $12.1 million in the previous quarter. Adjusted net investment income was $12.7 million ($0.41 per share). The company declared a regular cash dividend of $0.41 per share for Q3 2022, to be paid on October 17, 2022. Total assets stood at $1.323 billion with net asset value per share at $20.69. Investments increased to $1.285 billion across 137 portfolio companies, showcasing substantial portfolio activity during the quarter.