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Re: 56Chevy post# 127

Tuesday, 03/01/2022 10:58:32 PM

Tuesday, March 01, 2022 10:58:32 PM

Post# of 246


Barings BDC, Inc.
Feb 25, 2022, 16:15 ET

CHARLOTTE, N.C., Feb. 25, 2022 /PRNewswire/ -- Barings BDC, Inc. (NYSE: BBDC) ("Barings BDC") announced today the closing of the previously announced merger with Sierra Income Corporation ("Sierra"). The combined company, which will remain externally managed by Barings LLC, is expected to have more than $2.7 billion of assets under management on a pro forma basis.

As a result of the merger, Sierra shareholders will receive the following in exchange for each share of Sierra common stock held at the effective time of the merger: (i) 0.44973 of a share of Barings BDC common stock, and (ii) approximately $0.9783641 of cash as transaction support provided by Barings LLC. Barings BDC will issue approximately 45,996,985 shares of Barings BDC common stock to Sierra shareholders in connection with the merger, resulting in former Sierra stockholders and current Barings BDC stockholders owning 41.3% and 58.7% of the combined company, respectively, at closing.



* I think the reason this bk was on such a fastrack the minute the filing hit the ground was that the OUCC knew it had a big time challenge ahead of itself to not allow this to go to a ch 7 fire sale (which is what the SEC was pushing for)..come up with a confirmable plan..convince the court to allow for a ch 11 liquidation..get it voted on.. confirmed ..and then have a shot at averting this Baring merger with SIC and work a deal of their own. If true it was a heroic effort but may have all been for not..?? We'll see eh.

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