8-K
Palmer Square Capital BDC Inc. (PSBD)
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):February 16, 2023
PALMER SQUARE CAPITAL BDC INC.
(Exact name of Registrant as Specified in ItsCharter)
| maryland | 814-01334 | 84-3665200 |
|---|---|---|
| (State or Other Jurisdictionof Incorporation) | (Commission File Number) | (IRS EmployerIdentification No.) |
| 1900 Shawnee MissionParkway, Suite 315,Mission Woods, KS | 66205 | |
| --- | --- | |
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s telephone number, including
area code: (816) 994-3200
(Former Name or Former Address, if Changed SinceLast 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 |
|---|---|---|
| N/A | N/A | N/A |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b- 2 of the Securities Exchange Act of 1934.
Emerging growth company ☒
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 2.02. Results of Operations and Financial Condition.
Palmer Square Capital BDC Inc. (the “Company”) is hosting a webinar for the Company’s existing stockholders. In connection with the stockholder presentation, the Company will review the information attached hereto as Exhibit 99.1.
Item 7.01. Regulation FD Disclosure.
The information in Item 2.02 of this Current Report on Form 8-K is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| 99.1 | Palmer Square Capital BDC Inc. Information Slide, dated February 16, 2023 |
|---|---|
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, Palmer Square Capital BDC Inc. has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| PALMER SQUARE CAPITAL BDC INC. | ||
|---|---|---|
| Date: February 16, 2023 | By: | /s/ Jeffrey D. Fox |
| Name: | Jeffrey D. Fox | |
| Title: | Chief Financial Officer |
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Exhibit 99.1
Palmer Square Capital BDC Inc. Fund Level Metrics (12/31/2022) Portfolio Credit Quality (12/31/2022) Monthly Performance Net of Fees as of 01/31/2023 '–' Dollar Weighted Average Levered Coupon1 16.09% Average Price $88.45 Debt to Equity Ratio 1.76x NAV / Share (as of 01/31/23) $16.00 BB 2% B 86% CCC 8% NR 4% Past performance does not guarantee future returns. Time Weighted performance provides performance of the Fund based on Net Asset Value (NAV). Performance returns assume the reinvestment of all dividends. 1Net of financing costs. Past performance does not guarantee future returns. Inception of the Palmer Square BDC is 01/23/2020. Time Weighted performance provides performance of the Fund based on Net Asset Value (NAV). Dollar Weighted performance provides the actual net of fee performance of an initial investor in the Fund since inception, 50% of whose capital was called 01/23/2020 and 50% called 03/17/2020. Palmer Square Capital BDC, Inc. ("Palmer Square BDC") will seek to maximize total return, comprised of current income, with added potential for capital appreciation depending on market environments. Unlike many other BDCs, who focus on investing in small/mid-sized companies, the Palmer Square BDC is primarily focused on broadly-syndicated senior debt (first lien). The Palmer Square BDC will employ Palmer Square'’'s disciplined investment strategy which emphasizes flexibility, while still targeting an attractive yield. 15 Portfolio Allocation (12/31/2022) Bank Loans 96% CLO Equity 2% CLO Debt 2% Fund Performance Metrics as of 01/31/2023 (net of fees) Cumulative Return Since Inception Palmer Square BDC '–' Dollar Weighted 5.31% Palmer Square BDC '–' Time Weighted 0.75% Please see Notes and Disclosure. Past performance does not guarantee future results. Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD 2023 6.95% 6.95% 2022 0.85% -1.33% -0.25% 0.10% -7.43% -7.58% 3.35% 4.00% -8.68% -1.13% 2.21% -0.83% -16.37% 2021 1.89% 0.78% -0.58% 0.63% 0.97% 0.29% -0.24% 0.53% 1.17% 0.19% -0.39% 1.07% 6.48% 2020 -15.54% 7.40% 7.46% 1.13% 4.25% 1.89% 0.35% -0.40% 3.30% 2.30% 10.58% '©' PALMER SQUARE CAPITAL MANAGEMENT LLC WWW.PALMERSQUARECAP.COM FOR USE WITH ACCREDITED INVESTORS ONLY.