BCP Investment agrees to acquire Investcorp Credit Management BDC
ICMB•Investcorp Credit Management BDC will merge into BCP Investment Corporation, with closing expected in the first quarter of 2027, subject to stockholder approval. ICMB holders will receive 90% of closing net asset value; based on November 9 prices, the consideration values shares at about $1.38, a 126% premium to the $0.61 close.
1. Deal terms
Investcorp Credit Management BDC will merge into BCP Investment Corporation, with closing expected in the first quarter of 2027, subject to ICMB stockholder approval. ICMB stockholders will receive 90% of closing net asset value, subject to adjustments for transaction expenses, debt repayment and tax-related items. Consideration will include shares valued at closing net asset value, capped at 19.99% of the acquirer’s outstanding common stock at signing, with cash covering any remainder. Based on November 9 market prices, the consideration values ICMB at approximately $1.38 per share, a 126% premium to its $0.61 closing price. Current ICMB stockholders are expected to own up to approximately 16.7% of the combined company, which expects operating synergies.
