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Barings BDC announces preliminary results of tender offer

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Barings BDC announces preliminary results of tender offer

Barings BDC Inc. announced the preliminary results of its modified Dutch auction tender offer for an aggregate purchase price of not more than $50 million of its common shares.

The offer expired at 5 p.m. ET on Sept. 6.

Based on the preliminary results reported by Computershare Trust Co. NA, the depositary for the offer, a total of 5,652,972 shares were properly tendered and not properly withdrawn at the purchase price of $10.20 per share, including 1,441,588 shares tendered through notice of guaranteed delivery.

Barings expects to purchase approximately 86.7% of the shares tendered at $10.20 per share, representing an aggregate of approximately $50 million.

Final results of the tender offer are expected to be released on or around Sept. 11.