Nuveen Churchill Direct Lending Corp. current report, 20 April 2023

Business Context and Reporting Period

Nuveen Churchill Direct Lending Corp. filed a Form 8-K dated April 20, 2023, reporting an issuance of common stock under existing subscription agreements and investor capital commitments.

Key Financial and Capitalization Metrics

  • Shares issued: 2,205,038 shares of common stock.
  • Aggregate offering price: $40 million, implying approximately $18.14 per share.
  • Net proceeds: The filing does not provide a clear value for net proceeds or related expenses.
  • Revenue, profit, cash flow, margins, debt and liquidity: The filing does not provide these metrics.

Material Changes Versus the Prior Comparable Period

The company completed a $40 million drawdown issuance of common stock on April 20, 2023. No other comparable-period operating or financial changes are reported.

Guidance, Outlook, Risks and Unusual Items

  • Investors funded the purchase pursuant to drawdown notices and are required to fund additional drawdowns up to their respective capital commitments on an as-needed basis.
  • The shares were issued in an unregistered offering relying on Section 4(a)(2) of the Securities Act and Regulation D or Regulation S, as applicable.
  • The filing provides no financial guidance, management outlook, contingencies or specific risk disclosures beyond the offering terms.

Investor Verification Points

  • Verify the final number of shares issued and the aggregate offering price.
  • Confirm the applicable exemption and investor eligibility under Section 4(a)(2), Regulation D or Regulation S.
  • Review subsequent filings for the use of proceeds, additional drawdowns, changes in shares outstanding and any effect on net asset value or leverage.
  • Confirm whether further capital commitments remain available under the subscription agreements.