Company: FCRX
Filing Date: 2025-06-06
Form Type: N-2/A
Source: 0001193125-25-137120
Chunk: 9

Company: Crescent Capital BDC, Inc.
Filing Date: 2025-06-06
Form: N-2/A
Chunk 9
---
 volatility and possible distribution restrictions.”in our most recent Annual Report on Form 10-K,which is incorporated by reference herein. See “Part I. Item 1. Business”in our most recent Annual Report on Form 10-K,which is incorporated by reference herein, for additional information about us.

2

Risk Factors Investing in us involves risks. The following is a summary of the principal risks that you should carefully consider before investing in our securities. In addition, see “ Risk Factors” beginning on page 15 and “Part I. Item 1A. Risk Factors”in our most recent Annual Report on Form 10-Kand “ Part II. Item 1A. Risk Factors”in ourQuarterly Reports on Form 10-Qincorporated by reference herein for a more detailed discussion of the principal risks as well as certain other risks you should carefully consider before deciding to invest in our securities. Risks Relating to our Business and Structure

| • |     | We are dependent upon key personnel of Crescent and the Advisor. |

| • |     | We may not replicate the historical performance achieved by Crescent. |

| • |     | We depend on Crescent to manage our business effectively. |

| • |     | Adverse developments in the credit markets may impair our ability to enter into new debt financing arrangements. |

| • |     | The Advisor, the investment committee of the Advisor, Crescent and their affiliates, officers, directors and employees may face certain conflicts of interest. Conflicts of interest may be created by the valuation process for certain portfolio holdings. Conflicts may arise related to other arrangements with Crescent and the Advisor and other affiliates. |

| • |     | Crescent’s principals and employees, the Advisor or their affiliates may, from time to time, possess materialnon-publicinformation, limiting our investment discretion. |

| • |     | Our management and incentive fee structure may create incentives for the Advisor that are not fully aligned with our stockholders’ interests and may induce the Advisor to make speculative investments. |

| • |     | The Advisor has limited liability and is entitled to indemnification under the Investment Advisory Agreement. |

| • |     | We operate in an increasingly competitive market for investment opportunities, which could make it difficult for us to identify and make investments that are consistent with our investment objectives. Our ability to enter into transactions with our affiliates is restricted. Our ability to sell or otherwise exit investments also invested in by other Crescent investment vehicles is restricted. |

| • |     | We may have difficulty paying our