Filed Pursuant to Rule 424(b)(3)
Registration No. 333-268622
CRESCENT PRIVATE CREDIT INCOME CORP.
SUPPLEMENT NO. 13 DATED JULY 26, 2024
TO THE PROSPECTUS DATED SEPTEMBER 29, 2023
This prospectus supplement (“Supplement”) contains information that amends, supplements or modifies certain information contained in the accompanying prospectus of Crescent Private Credit Income Corp. (the “Fund”), dated September 29, 2023 (as amended and supplemented to date, the “Prospectus”). This Supplement is part of and should be read in conjunction with the Prospectus. Unless otherwise indicated, all other information included in the Prospectus, or any previous supplements thereto, that is not inconsistent with the information set forth in this Supplement remains unchanged. Unless otherwise defined herein, capitalized terms used in this Supplement shall have the same meanings as in the Prospectus.
Effective immediately, the Prospectus is updated to include the Current Report on Form 8-K filed with the Securities and Exchange Commission on July 26, 2024 (the “Form 8-K”). The Form 8-K is attached to this Supplement as Appendix A.
Please retain this Supplement with your Prospectus.
Appendix A
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) July 26, 2024
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
July 2024 Distributions
On July 26, 2024, Crescent Private Credit Income Corp. (the “Fund”) declared regular and special distributions for its Class I common shares of common stock, par value $0.01 per share (“Class I Common Shares”), in the amount per share set forth below:
|
| Gross Distribution |
|
| Special Distribution |
|
| Shareholder Servicing and/or Distribution Fee |
|
| Net Distribution |
| ||||
Class I Common Shares |
| $ | 0.16000 |
|
| $ | 0.07000 |
|
| $ | - |
|
| $ | 0.23000 |
|
The distributions for Class I Common Shares are payable to shareholders of record as of the open of business on July 31, 2024 and will be paid on or about August 27, 2024. The July 2024 distributions will be paid in cash or reinvested in the Class I Common Shares for shareholders participating in the Fund’s distribution reinvestment plan.
Net Asset Value
The net asset value (“NAV”) per share of Class I Common Shares of the Fund as of June 30, 2024, as determined in accordance with the Fund's valuation policy, is set forth below:
|
| NAV per share as of June 30, 2024 |
| |
Class I Common Shares |
| $ | 26.95 |
|
As of June 30, 2024, the Fund’s aggregate NAV was approximately $160.2 million, the fair value of its portfolio investments was approximately $228.7 million and it had principal debt outstanding of $79.5 million, resulting in a debt to equity ratio of approximately 0.50x.
Status of Private Offering
As of July 26, 2024, pursuant to subscription agreements entered into between the Fund and Sun Life Assurance Company of Canada ("Sun Life"), BK Canada Holdings Inc. (“BK Canada”) and Scotia Private Credit Pool (“Scotia”), the Fund issued approximately 5,996,083 of its Class I Common Shares and raised gross proceeds of approximately $153.2 million since inception, including 51,948 shares sold to Scotia in July 2024.
The Sun Life and BK Canada private placements of Class I Common Shares were exempt from the registration provisions of the Securities Act of 1933, as amended, (the “Securities Act”) pursuant to Section 4(a)(2) thereof and Rule 506(b) promulgated thereunder. The offer and sale of the Class I Common Shares to Scotia was exempt from the registration provisions of the Securities Act, pursuant to Section 4(a)(2) thereof and/or Regulation S promulgated thereunder. As of July 26, 2024, 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. | ||
July 26, 2024 | ||
By: | /s/ Kirill Bouek | |
Name: | Kirill Bouek | |
Title: | Chief Financial Officer |
