BDC IPO Underwriting Discounts 
The chart below summarizes the underwriting discounts for BDC IPOs based on filings m
order based on the date of their respective IPO. 
Company Name6 
IPO Date 
Public Offering Price  
($ per share) 
Public O
($
Robinhood Ventures Fund II 
8/13/2026 
$25.00 
MSC Income Fund, Inc. 
1/28/2025 
$15.53 
Kayne Anderson BDC, Inc. 
5/21/2024 
$16.63 
Nuveen Churchill Direct Lending Corp. 
1/24/2024 
$18.05 
Morgan Stanley Direct Lending Fund 
1/23/2024 
$20.67 
Palmer Square Capital BDC, Inc. 
1/17/2024 
$16.45 
Chicago Atlantic BDC, Inc. (formerly 
Silver Spike Investment Corporation) 
2/03/2022 
$14.00 
Blackstone Secured Lending Fund 
10/28/2021 
$26.15 
Runway Growth Finance Corporation 
10/21/2021 
$14.60 
Trinity Capital Inc. 
1/28/2021 
$14.00 
Blue Owl Capital Corporation (formerly 
Owl Rock Capital Corporation) 
7/19/2019 
$15.30 
Bain Capital Specialty Finance, Inc. 
11/14/2018 
$20.25 
Carlyle Secured Lending, Inc. (formerly 
TCG BDC, Inc.) 
6/13/2017 
$18.50 
Corporate Capital Trust II 
10/21/2015 
$9.45 
Goldman Sachs BDC, Inc. 
3/17/2015 
$20.00 
 
6All issuers listed were traded on an exchange at the time of the IPO; some have since changed names, merge
7 The issuer’s investment adviser will pay 70% of the underwriting discount ($.84 per share), and the issuer w

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