Golub Capital BDC, Inc. Announces Fiscal Year 2020 Second Quarter Financial Results

About this update from Golub Capital Bdc, Inc.

[{"type":"text","content":"NEW YORK, May 11, 2020 /PRNewswire/ -- Golub Capital BDC, Inc., a business development company (Nasdaq: GBDC), today announced its financial results for its second fiscal quarter ended March 31, 2020.\nExcept where the context suggests otherwise, the terms \"we,\" \"us,\" \"our,\" and \"Company\" refer to Golub Capital BDC, Inc. and its consolidated subsidiaries. \"GC Advisors\" refers to GC Advisors LLC, our investment adviser.\nSELECTED FINANCIAL HIGHLIGHTS\n(in thousands, expect per share data)\nMarch 31, 2020\nDecember 31, 2019\nInvestment portfolio, at fair value\n$\n4,210,215\n$\n4,448,316\nTotal assets\n$\n4,347,146\n$\n4,597,469\nNet asset value per share\n$\n14.62\n$\n16.66\nQuarter Ended\nMarch 31, 2020\nDecember 31, 2019\nNet investment income per share\n$\n0.24\n$\n0.24\nAmortization of purchase premium per share\n0.09\n0.09\nAdjusted net investment income per share1\n$\n0.33\n$\n0.33\nNet realized/unrealized gain/(loss) per share\n$\n(1.95)\n$\n0.11\nReversal of realized / unrealized loss resulting from the amortization of the purchasepremium per share\n$\n(0.09)\n$\n(0.09)\nAdjusted net realized/unrealized gain/(loss) per share1\n$\n(2.04)\n$\n0.02\nEarning/(loss) per share\n$\n(1.71)\n$\n0.35\nAdjusted earnings/(loss) per share1\n$\n(1.71)\n$\n0.35\nNet asset value per share\n$\n14.62\n$\n16.66\nDistributions paid per share2\n$\n0.33\n$\n0.46\n1 \nOn September 16, 2019, the Company completed its acquisition of Golub Capital Investment Corporation (\"GCIC\"). The merger was accounted for under the asset acquisition method of accounting in accordance with Accounting Standards Codification 805-50, Business Combinations — Related Issues. Under asset acquisition accounting, where the consideration paid to GCIC's stockholders exceeded the relative fair values of the assets acquired, the premium paid by the Company was allocated to the cost of the GCIC assets acquired by the Company pro-rata based on their relative fair value. Immediately following the acquisition of GCIC, the Company recorded its assets at their respective fair values and, as a result, the purchase premium allocated to the cost basis of the GCIC assets acquired was immediately recognized as unrealized depreciation on the Company's Consolidated Statement of Operations. The purchase premium allocated to investments in loan securities acquired from GCIC wi...

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