Business
CORRECTING and REPLACING Crescent Capital BDC, Inc. and First Eagle Alternative Capital BDC, Inc. Announce Election Deadline for FCRD Stockholders to Elect Form of Consideration
LOS ANGELES, CA & BOSTON, MA--(BUSINESS WIRE)-- First bullet item (following the third paragraph) of release dated February 23, 2023 should read:
About this update from Crescent Capital Bdc, Inc.
[{"type":"text","content":" LOS ANGELES, CA & BOSTON, MA--(BUSINESS WIRE)--\nFirst bullet item (following the third paragraph) of release dated February 23, 2023 should read: Consideration per share equal to FCRD’s net asset value per share xxx (instead of: Consideration per share equal to CCAP’s net asset value per share xxx).\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230223006001/en/\nThe updated release reads:\n\nCRESCENT CAPITAL BDC, INC. AND FIRST EAGLE ALTERNATIVE CAPITAL BDC, INC. ANNOUNCE ELECTION DEADLINE FOR FCRD STOCKHOLDERS TO ELECT FORM OF CONSIDERATION\n\nFirst Eagle Alternative Capital BDC, Inc. (NASDAQ: FCRD) (“FCRD”) and Crescent Capital BDC, Inc. (NASDAQ: CCAP) (“CCAP”) today announced that the deadline (the “Election Deadline”) for FCRD’s stockholders of record to elect to receive cash consideration in lieu of shares of CCAP common stock in connection with the pending merger of CCAP and FCRD (the “Merger”) is 5:00 p.m., Eastern Time, on March 2, 2023. The Election Deadline is based on CCAP’s and FCRD’s expectation that FCRD’s special meeting of stockholders to approve matters relating to the Merger will be held as scheduled on March 7, 2023.\n\nThe terms of the proposed Merger are set forth in the Agreement and Plan of Merger (the “Merger Agreement”), dated as of October 3, 2022, by and among CCAP, Echelon Acquisition Sub, Inc., a direct wholly-owned subsidiary of CCAP, Echelon Acquisition Sub LLC, a direct wholly-owned subsidiary of CCAP, FCRD, and Crescent Cap Advisors, LLC, the external investment adviser to CCAP (“CCAP Advisor”). If the Merger is consummated, among other transactions, FCRD will merge with and into a subsidiary of CCAP, with the combined company to be managed by CCAP Advisor. The completion of the Merger is subject to satisfaction or waiver or certain customary closing conditions contained in the Merger Agreement, including receipt of the requisite approval from FCRD stockholders.\n\nUnder the terms of the Merger Agreement, if the Merger is completed, FCRD stockholders (excluding any shares held by subsidiaries of FCRD or held, directly or indirectly, by CCAP or Echelon Acquisition Sub, Inc.) will be entitled to receive, in the aggregate:\n\n\nConsideration per share equal to FCRD’s net asset value per share at the time of closing of the Merger, fund...