Palmer Square Capital BDC Inc.PSBD
What Palmer Square Capital BDC Inc. does.
We are a financial services company that primarily lends to and invests in corporate debt securities of companies, including small to large private U.S. companies. We were organized as a Maryland corporation on August 26, 2019 and are structured as an externally managed, non-diversified closed-end management investment company. We have elected to be regulated as a business development company (“BDC”) under the Investment Company Act of 1940, as amended (the “1940 Act”). Beginning with our taxable year ended December 31, 2020, we have elected to be treated as a regulated investment company (a “RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), and we expect to qualify as a RIC annually.
On January 22, 2024, we completed our initial public offering (the “IPO”) issuing 5,450,000 shares of common stock, par value $0.001, at a public offering price of $16.45 per share. Our common stock began trading on the New York Stock Exchange under the symbol “PSBD” on January 18, 2024.
We are externally managed by the Investment Advisor, an investment adviser that is registered with the U.S. Securities and Exchange Commission (“SEC”) under the Investment Advisers Act of 1940 (the “Advisers Act”), pursuant to an amended and restated investment advisory agreement between us and the Investment Advisor (the “Advisory Agreement”). Subject to the supervision of our Board of Directors (the “Board”), a majority of which is made up of directors that are not “interested persons” as defined in Section 2(a)(19) of the 1940 Act (the “Independent Directors”), our Investment Advisor manages our day-to-day operations and provides us with investment advisory and management services and certain administrative services. The Investment Advisor, in its capacity as Administrator, provides the administrative services necessary for us to operate pursuant to an administration agreement between us and the Administrator (the “Administration Agreement”). Our Investment Advisor is a majority-owned subsidiary of PSCM, which is a privately-held firm specializing in global alternative (non-traditional) investments with a total return orientation.
Revenue and profit, by fiscal year.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Net income | — | $19.1M | -$74.5M | $107.8M | $47.7M | -$3.2M |
More on PSBD.
- Palmer Square Capital BDC Inc. summary
- Palmer Square Capital BDC Inc. financial statements
- Palmer Square Capital BDC Inc. key metrics
- Palmer Square Capital BDC Inc. health scores and style box
- Palmer Square Capital BDC Inc. earnings
- Palmer Square Capital BDC Inc. dividends
- Palmer Square Capital BDC Inc. valuation
- Palmer Square Capital BDC Inc. ownership and insiders
- Palmer Square Capital BDC Inc. peers
Figures from Palmer Square Capital BDC Inc.'s filings with the U.S. SEC, standardised automatically; prices are end-of-day closes. Not financial advice.