BCP Investment Corporation completed a $9 million share repurchase under a modified Dutch auction tender offer that closed on December 10, 2025. The company bought back 4.4 million shares, a transaction that represents about 5 % of the firm’s outstanding shares as of December 12, 2025.
The tender offer attracted 4.4 million shares submitted at or below $14.93 per share. The Offeror Group—composed of BCIC executives and board members—accepted 0.7 million shares at a purchase price of $13.63 per share, costing the company roughly $1.4 million. The remaining $7.6 million of the tendered shares were purchased by the company itself, bringing the total acquisition to the full $9 million target.
BCIC’s management framed the buyback as part of an aggressive capital‑allocation strategy aimed at returning value to shareholders and narrowing the discount between the stock price and the company’s net asset value (NAV). By repurchasing shares at a price below the prevailing NAV, the firm expects to accrete approximately 1 % of NAV, or about $0.07 per share, thereby tightening the discount and supporting the company’s high dividend yield.
Management highlighted the program as a concrete demonstration of alignment with shareholder interests. The repurchase signals confidence in the firm’s underlying asset base and its ability to generate sustainable cash flows, reinforcing the company’s commitment to delivering long‑term value.
The buyback is expected to reduce the discount to NAV, which has been a persistent theme since the July 2025 merger and rebranding that created BCP Investment Corporation. The firm’s dividend yield, hovering around 15 %, benefits from the additional NAV accretion, as a tighter discount can support higher dividend payouts without diluting shareholder equity.
BCIC’s broader capital‑management agenda includes a recent issuance of new notes in October 2025 and a planned transition to monthly base distributions in 2026. The share repurchase fits within this framework, underscoring the company’s focus on optimizing capital structure and enhancing shareholder returns.
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