Business Context and Reporting Period
Company: Goldman Sachs BDC, Inc. (GSBD)
Filing Type: Form 8-K (Current Report)
Date of Report: May 13, 2021
Event: Declaration and payment details regarding a special distribution and subsequent adjustment to convertible note conversion rates.
Key Financial Metrics
This filing does not report standard financial performance metrics such as revenue, net income, operating cash flow, or debt levels. The primary financial data points disclosed are:
- Special Distribution: $0.15 per share total, paid in three equal quarterly installments of $0.05 per share.
- Installment Schedule:
- 1st Installment: Paid March 15, 2021.
- 2nd Installment: Record date May 14, 2021; Ex-dividend date May 13, 2021.
- 3rd Installment: Record date August 16, 2021.
- Convertible Notes Adjustment: The 4.50% Convertible Notes due 2022 conversion rate was adjusted to 40.9507 shares of common stock per $1,000 principal amount, effective May 13, 2021.
Material Changes
The material change reported is the adjustment to the conversion rate of the Company's 4.50% Convertible Notes due 2022. This adjustment was triggered by the payment of the second installment of the special distribution, as required by the terms of the indenture governing the Notes.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future performance, or discussion of new risks or contingencies beyond the mechanical adjustment of the convertible note terms.
Investor Verification Checklist
- Verify the record dates for the remaining special distribution installments (May 14, 2021, and August 16, 2021).
- Confirm the new conversion rate of 40.9507 shares per $1,000 of principal for the 4.50% Convertible Notes due 2022.
- Review the impact of the special distribution on the Company's capital structure and liquidity in subsequent quarterly reports (10-Q).