Nuveen Churchill Direct Lending Corp. (NCDL) has priced its initial public offering of 5,500,000 shares of its common stock at $18.05 per share. NCDL’s shares of common stock are expected to begin trading on the New York Stock Exchange on January 25, 2024 under the symbol “NCDL.” NCDL also granted the underwriters an option to purchase up to an additional 825,000 shares of its common stock. The closing of the offering is subject to customary closing conditions, and the shares are expected to be delivered on or about January 29, 2024.
NCDL intends to use the net proceeds of this offering to pay down existing indebtedness, make investments in middle market companies in accordance with its investment strategy, and for other general corporate purposes.
BofA Securities, UBS Investment Bank, Morgan Stanley , Wells Fargo Securities, Keefe, Bruyette & Woods, A Stifel Company, JMP Securities, a Citizens Company, and Truist Securities acted as joint book-running managers for the offering. MUFG, SMBC Nikko, Academy Securities, and Blaylock Van, LLC acted as co-managers for the offering.
A registration statement relating to these securities was filed with the U.S. Securities and Exchange Commission (the “SEC”) and declared effective on January 24, 2024.
Investors are advised to carefully consider the investment objective, risks and charges and expenses of NCDL before investing. The preliminary prospectus, dated January 16, 2024, contains this and other information about NCDL and should be read carefully before investing. The information in the registration statement is not complete and may be changed.
This press release will not constitute an offer to sell or the solicitation of an offer to buy the securities described above nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to their registration or qualification under the securities laws of any such state or jurisdiction. Offers of these securities are made only by means of the prospectus. The SEC has not approved or disapproved these securities or passed upon the adequacy of the preliminary prospectus. Any representation to the contrary is a criminal offense.
The offering of these securities is being made only by means of a prospectus, copies of which may be obtained from: BofA Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, North Carolina 28255, Attn: Prospectus Department, email: dg.prospectus_requests@bofa.com; UBS Securities LLC, 1285 Avenue of the Americas, New York, New York 10019, Attn: Prospectus Department, by email: ol-prospectus-request@ubs.com; Morgan Stanley & Co (NYSE:MS). LLC, 180 Varick Street, 2nd Floor, New York, New York 10014, Attn: Prospectus Department; Wells Fargo Securities, 90 South 7th Street, 5th Floor, Minneapolis, MN 55402, at 800-645-3751 (option #5) or email a request to WFScustomerservice@wellsfargo.com; or Keefe, Bruyette & Woods, Inc., 787 7th Avenue, 4th Floor, New York, New York 10019, Attn: Equity Capital Markets, telephone: 1-800-966-1559, or by emailing USCapitalMarkets@kbw.com.