Company: FCRX
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000950170-25-023153
Chunk: 650

Company: Crescent Capital BDC, Inc.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 650
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000 of the Company's common stock via a share purchase program.               The FCRD Acquisition was accounted as an asset acquisition because the set of acquired assets did not constitute a business. Accordingly, the fair value of the merger consideration paid by the Company was allocated to the assets acquired and liabilities assumed based on their relative fair values as of the date of acquisition and did not give rise to goodwill. Since the fair value of the net assets acquired exceeded the fair value of the merger consideration paid by the Company, the Company recognized a deemed contribution from the Adviser equal to the amount by which the fair value of the net assets acquired exceeded the merger consideration paid directly by the Company.

171

             The following table summarizes the allocation of the purchase price to the assets acquired and liabilities assumed as a result of the FCRD Acquisition (in thousands): 

        Consideration paid by the Company

        Aggregate Share Consideration (1)
        $
        91,257

        CCAP Cash Consideration
         
        8,649

        Deemed contribution from the Adviser
         
        22,040

        Transaction costs
         
        7,565

        Total Purchase Price
        $
        129,511

        Assets/(Liabilities) acquired by the Company

        Investments, at fair value (2)
        $
        335,035

        Cash and cash equivalents
         
        1,233

        Interest and dividend receivable
         
        3,995

        Other assets
         
        518

        Secured credit facility
         
        (95,200
        )

        2026 Unsecured Notes - FCRX
         
        (111,600
        )

        Interest and other debt financing costs payable
         
        (1,198
        )

        Accrued expenses and other liabilities
         
        (3,272
        )

        Net Assets Acquired
        $
        129,511

       (1) Common stock consideration was issued at the Company’s closing stock price of $14.78 as of March 9, 2023, the closing date of the FCRD Acquisition.(2) Investments acquired were recorded at fair value at the date of the acquisition, which is also the Company’s initial cost basis. 

172

Note 14. Subsequent Events The Company’s management evaluated subsequent events through the date of issuance of the consolidated financial statements included herein. Other than the items