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First Eagle Alternative Capital BDC, Inc. Stock Price

NasdaqGS:FCRD Community·US$135.8m Market Cap
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FCRD Share Price Performance

US$0
0.00 (0.00%)
US$0
0.00 (0.00%)
Price US$0

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Snowflake Analysis

Mediocre balance sheet second-rate dividend payer.

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First Eagle Alternative Capital BDC, Inc. Key Details

US$33.3m

Revenue

US$0

Cost of Revenue

US$33.3m

Gross Profit

US$72.8m

Other Expenses

-US$39.5m

Earnings

Last Reported Earnings
Dec 31, 2022
Next Reporting Earnings
n/a
-1.32
100.00%
-118.67%
153.4%
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About FCRD

Founded
2009
Employees
n/a
CEO
Christopher Flynn
WebsiteView website
investor.feacbdc.com

THL Credit, Inc. is a business development company specializing in direct and fund of fund investments. The fund seeks to invest in debt and equity securities of middle market companies. It seeks to invest in PIPES, growth, acquisition, market or product expansion, recapitalization, mature, and change of control transactions in both sponsored and unsponsored issuers. The fund does not intend to invest in start-up companies, operationally distressed situations, or companies with speculative business plans. The fund invests primarily in debt securities, including unsecured subordinated or mezzanine debt and second lien secured debt, which may include an associated equity component such as warrants, preferred stock, options to buy minority interest, and other similar securities. Its investments may also include high-yield bonds, private equity investments, securities of public companies that are broadly traded, and securities of non-United States companies. It seeks to invest in outsourced business services, healthcare, financials, retailing, media, and consumer discretionary. The fund may make direct equity investments, including equity investments into or through funds, and also selectively invest in syndicated first lien secured loans, including unitranche investments. It seeks to invest between $10 million and $25 million of capital per transaction in companies with annual revenues ranging from $25 million to $500 million and annual EBITDA between $5 million and $25 million. The fund prefers to be a lead or sole investor in a transaction.

Recent FCRD News & Updates

Seeking Alpha Oct 04

Crescent Capital to acquire First Eagle Alternative Capital

Crescent Capital BDC (NASDAQ:CCAP) will acquire First Eagle Alternative Capital BDC (NASDAQ:FCRD) in a stock and cash transaction. The transaction represents total consideration for First Eagle stockholders of ~$145.6M or $4.86 per share, representing a 66% premium to the closing stock price of First Eagle on Oct. 3. Post the transaction, Crescent and First Eagle stockholders are expected to own ~83% and 17%, respectively. The combined entity is expected to have ~$1.6B of investments on a pro forma basis. The boards of both the companies have approved the transaction. The acquisition is expected to close as early as Q4. Additionally, Sun Life, which owns a majority interest in Crescent, will purchase $20M of the combined company's common stock via a share purchase program over time following the consummation of the transaction. First Eagle's 5.00% senior unsecured notes due May 25, 2026, will be assumed by a subsidiary of Crescent. FCRD shares were trading +0.68% pre-market. Source: Press Release

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