# EDGAR Filing Document

**Accession Number:** 0001901037
**File Stem:** 0001104659-25-097942
**Filing Date:** 2025-10
**Character Count:** 15955
**Document Hash:** dfb7ac4afede04cc3f4da2bebf4dc9cc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-097942.hdr.sgml**: 20251008

**ACCESSION NUMBER**: 0001104659-25-097942

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20251008

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251008

**DATE AS OF CHANGE**: 20251008

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Stellus Private Credit BDC
- **CENTRAL INDEX KEY:** 0001901037

**ORGANIZATION NAME:**
- **EIN:** 876878660
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 814-01475
- **FILM NUMBER:** 251382658

**BUSINESS ADDRESS:**
- **STREET 1:** 4400 POST OAK PARKWAY
- **STREET 2:** SUITE 2200
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77027
- **BUSINESS PHONE:** 7132925414

**MAIL ADDRESS:**
- **STREET 1:** 4400 POST OAK PARKWAY
- **STREET 2:** SUITE 2200
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77027

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

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**FORM 8-K**

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**CURRENT REPORT**

**Pursuant to section 13 or 15(d) of the**

**Securities Exchange Act of 1934**

**Date of Report (Date of Earliest Event Reported): October 8, 2025**

**Stellus Private Credit BDC**

**(Exact name of registrant as specified in its charter)**

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| | | |
|:---|:---|:---|
| **Delaware** | **000-56378** | **87-6878660** |
| **(State or other jurisdiction of** | **(Commission** | **(IRS Employer** |
| **incorporation or organization)** | **File Number)** | **Identification Number)** |

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| | |
|:---|:---|
| **4400 Post Oak Parkway, Suite 2200** |  |
| **Houston, Texas** | **77027** |
| **(Address of principal executive offices)** | **(Zip Code)** |

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**Registrant's telephone number, including area code (713) 292-5400**

**None**

**(Former name or former address, if changed since last report)**

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

◻ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

◻ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

◻ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

◻ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading<br> Symbol(s)** | **Name of each exchange on which registered** |
| N/A | N/A | N/A |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ⌧

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

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| | |
|:---|:---|
| **Item 1.01.** | **Entry into a Material Definitive Agreement** |

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On October 2, 2025, Stellus Private Credit BDC (the "Company") entered into Amendment No. 2 to Loan Financing and Servicing Agreement (the "Second Amendment"), by and among Stellus Private Credit BDC SPV LLC ("Stellus SPV"), as borrower (the "Borrower"), the Company, as servicer, Deutsche Bank AG, New York Branch ("Deutsche Bank"), as facility agent, agent and a committed lender, which amends that certain Loan Financing and Servicing Agreement, dated as of August 1, 2024 (as further amended and restated, supplemented or otherwise modified from time to time prior to the Second Amendment, the "Existing Agreement", and the Existing Agreement as amended by the Second Amendment, the "Loan Agreement"), by and among the Borrower, the Company, as equityholder and servicer, Deutsche Bank, as facility agent, Citibank, N.A., as collateral agent and collateral custodian, Alter Domus (US) LLC, as collateral administrator, and the lenders and other agents that are party thereto from time to time. The Second Amendment amended the Existing Agreement to, among other things, (i) increase the commitment from $50 million to $75 million, (ii) reduce the applicable margin rate on Advances under the Loan Agreement to a range of 2.00% to 2.35%, (iii) extend the Revolving Period to October 2, 2028, and (iv) extend the maturity date to October 2, 2031.

Capitalized terms under this Item 1.01, unless otherwise defined herein, have the meaning ascribed to them under the Loan Agreement. The description above is only a summary of the material provisions of the Second Amendment and is qualified in its entirety by reference to the copy of the Second Amendment, which is filed as Exhibit 10.1 to this Current Report on Form 8-K.

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|:---|:---|
| **Item 2.03** | **Creation of a Direct Financial Obligation** |

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The information set forth under Item 1.01 above is incorporated by reference into this Item 2.03.

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|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits** |

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(d) Exhibits

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| | |
|:---|:---|
| [10.01](tm2528161d1_ex10-01.htm) | [Amendment No. 2 to Loan Financing and Servicing Agreement, dated as of October 2, 2025, by and among Stellus Private Credit BDC SPV LLC, as borrower, the Company, as servicer, Deutsche Bank AG, New York Branch, as facility agent, agent and a committed lender.](tm2528161d1_ex10-01.htm) |

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104 Cover Page Interactive Data File (embedded within the Inline XBRL Document).

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | | |
|:---|:---|:---|:---|
|  | Stellus Private Credit bdc | Stellus Private Credit bdc | Stellus Private Credit bdc |
| Date: October 8, 2025 | By: | /s/ W. Todd Huskinson | /s/ W. Todd Huskinson |
|  |  | Name: | W. Todd Huskinson |
|  |  | Title: | Chief Financial Officer, Chief Operating Officer and Secretary |

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## Exhibit 10.01

**Exhibit 10.01**

**EXECUTION VERSION**

AMENDMENT NO. 2 TO LOAN FINANCING AND SERVICING AGREEMENT, dated as of October 2, 2025 (this "<u>Amendment</u>"), among Stellus Private Credit BDC SPV LLC, as borrower (the "<u>Borrower</u>"), Deutsche Bank AG, New York Branch ("<u>DBNY</u>"), as facility agent (in such capacity, the "<u>Facility Agent</u>"), Stellus Private Credit BDC as servicer (the "<u>Servicer</u>"), DBNY as agent (in such capacity, the "<u>Agent</u>") and as a committed lender (in such capacity, the "<u>Committed Lender</u>" or the "<u>Lender</u>").

WHEREAS, the Borrower, Stellus Private Credit BDC, as equityholder, the Servicer, Citibank, N.A., as the collateral agent and the collateral custodian, Alter Domus (US) LLC, as the collateral administrator, the Facility Agent and the Committed Lender are party to the Loan Financing and Servicing Agreement, dated as of August 1, 2024 (as amended, supplemented, amended and restated and otherwise modified from time to time, the "<u>Loan Agreement</u>");

WHEREAS, the Servicer and the Borrower hereby request that the Facility Agent and the Lender amend the Loan Agreement as set forth herein; and

WHEREAS, the Borrower, the Servicer, the Facility Agent and the Lender have agreed to amend certain requirements of the Loan Agreement in accordance with Section 17.2 of the Loan Agreement and subject to the terms and conditions set forth herein.

NOW THEREFORE, in consideration of the foregoing premises and the mutual agreements contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

**ARTICLE I**

<u>Definitions</u>

SECTION 1.1. <u>Defined Terms</u>. Terms used but not defined herein have the respective meanings given to such terms in the Loan Agreement.

**ARTICLE II**

<u>Amendments to the Loan Agreement</u>

SECTION 2.1. <u>Amendments to the Loan Agreement</u>. As of the date of this Amendment, the Loan Agreement is hereby amended to delete the stricken text (indicated textually in the same manner as the following example: stricken text) and to add the bold and double-underlined text (indicated textually in the same manner as the following example: <u>**bold and double-underlined text**</u>) as set forth on the pages of the Loan Agreement attached as <u>Appendix A</u> hereto.

**ARTICLE III**

<u>Conditions to Effectiveness</u>

SECTION 3.1. This Amendment shall become effective as of the date first written above upon the satisfaction of the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the execution and delivery of this Amendment by the Borrower, the Servicer, the Facility Agent and the Committed Lender;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Facility Agent shall have received certified copies of the resolutions of the board of managers (or similar items) of the Borrower approving this Amendment and the transactions contemplated hereby, certified by its secretary or assistant secretary or other authorized officer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the Facility Agent shall have received the executed legal opinions of Eversheds Sutherland (US) LLP, counsel to the Borrower and the Servicer, in form and substance acceptable to the Committed Lender and administrative agent in their reasonable discretion;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the Facility Agent's receipt of a good standing certificate for the Borrower; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) all fees (including reasonable and documented fees, disbursements and other charges of counsel) due to the Lender on or prior to the effective date of this Amendment have been paid in full.

**ARTICLE IV**

<u>Representations and Warranties</u>

SECTION 4.1. The Borrower and the Servicer hereby represent and warrant to the Facility Agent and the Lender that, as of the date first written above, (i) no Event of Default, Unmatured Event of Default, Servicer Default or Unmatured Servicer Default has occurred and is continuing and (ii) the representations and warranties of the Borrower and the Servicer contained in the Loan Agreement are true and correct in all material respects on and as of such day (other than any representation and warranty that is made as of a specific date).

**ARTICLE V**

<u>Miscellaneous</u>

SECTION 5.1. <u>Governing Law</u>. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AMENDMENT AND ANY DISPUTE, SUIT, ACTION OR PROCEEDING, WHETHER IN CONTRACT, TORT OR OTHERWISE AND WHETHER AT LAW OR IN EQUITY, RELATING TO OR ARISING OUT OF THIS AMENDMENT OR TRANSACTIONS CONTEMPLATED HEREBY SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK.

SECTION 5.2. <u>Severability Clause</u>. In case any provision in this Amendment shall be invalid, illegal or unenforceable, the validity, legality, and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

SECTION 5.3. <u>Ratification</u>. Any actual currency exchanges that have occurred prior to this Amendment are ratified. Except as expressly amended and waived hereby, the Loan Agreement is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Amendment shall form a part of the Loan Agreement for all purposes.

SECTION 5.4. <u>Counterparts</u>. The parties hereto may sign one or more copies of this Amendment in counterparts, all of which together shall constitute one and the same agreement. Delivery of an executed signature page of this Amendment by facsimile or email transmission shall be effective as delivery of a manually executed counterpart hereof.

SECTION 5.5. <u>Headings</u>. The headings of the Articles and Sections in this Amendment are for convenience of reference only and shall not be deemed to alter or affect the meaning or interpretation of any provisions hereof.

SECTION 5.6. <u>Electronic Signatures</u>. The parties agree that this Amendment may be executed and delivered by electronic signatures and that the electronic signatures appearing on this Amendment are the same as handwritten signatures for the purposes of validity, enforceability and admissibility.

[Signature pages follow]

IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their respective officers thereunto duly authorized as of the day and year first above written.

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| | | |
|:---|:---|:---|
| **STELLUS PRIVATE CREDIT BDC SPV LLC**, as Borrower | **STELLUS PRIVATE CREDIT BDC SPV LLC**, as Borrower | **STELLUS PRIVATE CREDIT BDC SPV LLC**, as Borrower |
| By: | /s/ W. Todd Huskinson | /s/ W. Todd Huskinson |
|  | Name: | W. Todd Huskinson |
|  | Title: | Authorized Signatory |

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[Signature Page to Amendment No. 2 to Loan Financing and Servicing Agreement]

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| | | |
|:---|:---|:---|
| **STELLUS PRIVATE CREDIT BDC**, as Servicer | **STELLUS PRIVATE CREDIT BDC**, as Servicer | **STELLUS PRIVATE CREDIT BDC**, as Servicer |
| By: | /s/ W. Todd Huskinson | /s/ W. Todd Huskinson |
|  | Name: | W. Todd Huskinson |
|  | Title: | Authorized Signatory |

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[Signature Page to Amendment No. 2 to Loan Financing and Servicing Agreement]

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| | | |
|:---|:---|:---|
| **DEUTSCHE BANK AG, NEW YORK BRANCH**, as Facility Agent | **DEUTSCHE BANK AG, NEW YORK BRANCH**, as Facility Agent | **DEUTSCHE BANK AG, NEW YORK BRANCH**, as Facility Agent |
| By: | /s/ Amit Patel | /s/ Amit Patel |
|  | Name: | Amit Patel |
|  | Title: | Managing Director |
| By: | /s/ Peter Sabino | /s/ Peter Sabino |
|  | Name: | Peter Sabino |
|  | Title: | Director |

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[Signature Page to Amendment No. 2 to Loan Financing and Servicing Agreement]

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| | | |
|:---|:---|:---|
| **DEUTSCHE BANK AG, NEW YORK BRANCH**, as an Agent and as a Committed Lender | **DEUTSCHE BANK AG, NEW YORK BRANCH**, as an Agent and as a Committed Lender | **DEUTSCHE BANK AG, NEW YORK BRANCH**, as an Agent and as a Committed Lender |
| By: | /s/ Amit Patel | /s/ Amit Patel |
|  | Name: | Amit Patel |
|  | Title: | Managing Director |
| By: | /s/ Peter Sabino | /s/ Peter Sabino |
|  | Name: | Peter Sabino |
|  | Title: | Director |

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[Signature Page to Amendment No. 2 to Loan Financing and Servicing Agreement]

**<u>Appendix A</u>**

Amendments to the Loan Agreement