UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Item 3.02 Unregistered Sale of Equity Securities.
As of April 1, 2025, BIP Ventures Evergreen BDC sold 185,095 unregistered common shares of beneficial interest (the “Shares”) at a price per Share of $31.13 (with the final number of shares being determined on April 15, 2025) to accredited investors in a private placement of Shares for an aggregate purchase price of $5,762,000. The offer and sale of the Shares was exempt from the registration provisions of the Securities Act of 1933, as amended, pursuant to Section 4(a)(2) thereof and Regulation D thereunder.
Item 8.01 Other Events.
Recent BIP Ventures Evergreen BDC Transaction Highlights
On April 4, 2025, BIP Ventures Evergreen BDC (the “Company”) made an investment of $3.0 million into CareSave Technologies, Inc. (d/b/a ShiftMed) (“ShiftMed”) Convertible Mezzanine Debt Facility (the “Facility”) as part of a co-investment transaction with an affiliated fund in reliance on SEC co-investment exemptive relief. This Facility is subordinate to an existing ABL facility and senior to all other securities of the ShiftMed capitalization table. The Facility has an interest rate of 10.5%, which is expected to be distributed quarterly, a term of 5 years, and a feature that enables it to convert to an equity investment. The first 30 months are interest-only, followed by a 30-month amortization period. ShiftMed is a technology-enabled marketplace within the healthcare industry designed to connect skilled workers (caregivers and nurses) with available shifts at acute and post-acute care facilities. A recent product launch, ShiftMed Flex, positions the company as a broader workforce solution platform, handling both internal and external employees for their customers. The platform makes it easier for facilities to staff shifts, which drives compliance and quality of care.
On April 14, 2025, the Company made a follow-on investment of $0.5 million into a senior secured convertible note of Pointivo, Inc. (“Pointivo”). The convertible note has an interest rate of 10% and matures on December 31, 2025. Pointivo is an early-stage company enabling superior large asset maintenance and construction by creating detailed digital twins that enable data driven maintenance.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
BIP Ventures Evergreen BDC | ||
Date: April 16, 2025 | By: |
/s/ Mark Buffington |
Mark Buffington | ||
Chairman of the Board and Chief Executive Officer |
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