Sierra Income Corporation To Merge With Barings BDC, Inc. And Combined Company To Be Managed By Barings LLC
The combined company, which will remain externally managed by Barings LLC, is expected to have approximately $2.2 billion of investments on a pro forma basis.
- The combined company, which will remain externally managed by Barings LLC, is expected to have approximately $2.2 billion of investments on a pro forma basis.
- In addition, Barings LLC will pay $100 million in cash, or approximately $0.98 per share, directly to Sierra stockholders at closing.
- Following the Transaction, Barings BDC's pro forma equity base is expected to be approximately $1.3 billion and Barings BDC stockholders and Sierra stockholders are expected to own approximately 58.7% and 41.3%, respectively, of the combined company.
- "We are very excited to announce that we have entered into an agreement to purchase Sierra Income Corporation.