UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported) November 21, 2023
CRESCENT PRIVATE CREDIT INCOME CORP.
(Exact Name of Registrant as Specified in Charter)
Maryland | 814-01599 | 88-4283363 | ||
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||
11100 Santa Monica Blvd., Suite 2000, Los Angeles, CA | 90025 | |||
(Address of Principal Executive Offices) | (Zip Code) | |||
Registrant’s telephone number, including area code (310) 235-5900
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading symbol | Name of each exchange on which registered |
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company x
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 8.01 Other Events.
Net Asset Value
The net asset value (“NAV”) per share of Class I common shares of Crescent Private Credit Income Corp. (the "Fund") as of October 31, 2023, as determined in accordance with the valuation policies and procedures of Crescent Cap NT Advisors, LLC, the Fund’s investment adviser, was as follows:
|
| NAV as of October 31,2023 |
| |
Class I Common Shares |
| $ | 25.50 |
|
As of October 31, 2023, the Fund’s aggregate NAV was approximately $76.4 million, the fair value of its portfolio investments was approximately $58.3 million.
Status of Offering
Pursuant to a subscription agreement entered into between the Fund and Sun Life Assurance Company of Canada (“Sun Life Assurance”) on May 5, 2023, Sun Life Assurance committed to purchase Class I shares at an initial offering price of $25.00 per share. Following a partial drawdown of its commitment, in June 2023 Sun Life Assurance transferred the remainder of its commitment to BK Canada Holdings Inc. (together with Sun Life Assurance, the “Private Placement Investors”) pursuant to a transfer agreement entered into among the Fund and the Private Placement Investors (the transfer agreement and the subscription agreement with Sun Life Assurance, together, the “Private Placement Agreements”). As of November 21, 2023, pursuant to the Private Placement Agreements, the Fund had issued approximately 3,977,799 of its Class I common shares and raised gross proceeds of approximately $100.0 million. The private placement was conducted pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended, and Rule 506(b) promulgated thereunder. As of November 21, 2023, the Fund had not sold any of its Class S or Class D common shares.
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.
CRESCENT PRIVATE CREDIT INCOME CORP. | ||
November 21, 2023 | ||
By: | /s/ Kirill Bouek | |
Name: | Kirill Bouek | |
Title: | Chief Financial Officer |
