8-K
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported) November 21, 2024

CRESCENT PRIVATE CREDIT INCOME CORP.

(Exact Name of Registrant as Specified in Charter)

Maryland

814-01599

88-4283363

(State or Other Jurisdiction

of Incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

11100 Santa Monica Blvd., Suite 2000, Los Angeles, CA

90025

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s telephone number, including area code (310) 235-5900

(Former Name or Former Address, if Changed Since Last Report)

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))

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

Title of each class

Trading symbol

Name of each exchange on which registered

Indicate by check mark whether the registrant is an emerging growth company as defined in 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 x

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. ¨

 

 


 

Item 8.01 Other Events

 

November 2024 Distributions

 

On November 21, 2024, Crescent Private Credit Income Corp. (the “Fund”) declared regular and special distributions for its Class I common shares of common stock, par value $0.01 per share (“Class I Common Shares”), in the amount per share set forth below:

 

 

 

Gross Distribution

 

 

Special Distribution

 

 

Shareholder Servicing and/or Distribution Fee

 

 

Net Distribution

 

Class I Common Shares

 

$

0.16000

 

 

$

0.07000

 

 

$

-

 

 

$

0.23000

 

 

The distributions for Class I Common Shares are payable to shareholders of record as of the open of business on November 29, 2024 and will be paid on or about December 27, 2024. The November 2024 distributions will be paid in cash or reinvested in the Class I Common Shares for shareholders participating in the Fund’s distribution reinvestment plan.

 

Net Asset Value

The net asset value (“NAV”) per share of Class I Common Shares of the Fund as of October 31, 2024, as determined in accordance with the Fund's valuation policy, is set forth below:

 

 

NAV per share as of October 31, 2024

 

Class I Common Shares

 

$

27.00

 

 

As of October 31, 2024, the Fund’s aggregate NAV was approximately $169.3 million, the fair value of its portfolio investments was approximately $275.6 million and it had principal debt outstanding of $110.6 million, resulting in a debt to equity ratio of approximately 0.65x.

 

Status of Offering

The Fund is currently publicly offering on a continuous basis of up to $2.5 billion in shares of the Fund’s common stock, par value $0.01 per share (the “Common Shares”), including shares of the Fund’s Class I Common Shares, Class S common shares of common stock, par value $0.01 per share (the “Class S Common Shares”), and Class D common shares of common stock, par value $0.01 per share (the “Class D Common Shares”), pursuant to a registered offering (the "Registered Offering").

 

Additionally, the Fund has sold unregistered shares as part of private offerings (the “Private Placements”) that were exempt from the registration provisions of the Securities Act of 1933, as amended, (the “Securities Act”) pursuant to Section 4(a)(2) thereof and/or Rule 506(b) or Regulation S promulgated thereunder.

 

The following table lists the Common Shares issued and total consideration for both the Registered Offering and the Private Placements as of the date of this filing. The table below does not include Common Shares issued through the Fund’s distribution reinvestment plan. The Fund intends to continue selling Common Shares in the Registered Offering on a monthly basis.

 

(dollar amounts in millions)

 

Common Shares issued

 

 

Total consideration

 

Registered Offering:

 

 

 

 

 

 

Class I

 

 

681,673

 

 

$

18.4

 

Class S

 

 

 

 

Class D

 

 

 

 

Private Placements:

 

 

 

 

 

 

Class I

 

 

5,996,083

 

 

 

153.2

 

Class S

 

 

 

 

Class D

 

 

 

 

Total:

 

 

6,677,756

 

 

$

171.6

 

 


 

SIGNATURE

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 hereunto duly authorized.

CRESCENT PRIVATE CREDIT INCOME CORP.

November 21, 2024

By:

/s/ Kirill Bouek

Name:

Kirill Bouek

Title:

Chief Financial Officer