Investcorp Credit Management BDC, Inc. (ICMB) announced that it has hired Houlihan Lokey, Inc. (HLI) to serve as the financial advisor for its special committee of independent directors as the company reviews strategic alternatives, including a potential sale, recapitalization or other restructuring measures.
ICMB’s recent financial performance underscores the urgency of the review. In the quarter ended December 31, 2025, the company reported net investment income of $0.3 million, or $0.02 per share before taxes, falling short of the $0.05 per share forecast. The company also declined to declare a dividend for the quarter ended March 31, 2026. Net asset value has been in decline, falling to $4.25 per share as of December 31, 2025 from $5.04 as of September 30, 2025, and to $4.26 from $5.04 as of June 30, 2025.
Shaikh, President & CEO of ICMB, said the board is actively exploring options: "now is the appropriate time to consider strategic alternatives for the Company that could allow us to more effectively maximize value for our shareholders." The statement signals a proactive approach to addressing the company’s financial headwinds.
ICMB is a business development company that invests in middle‑market firms. The current market environment, coupled with declining NAV and earnings misses, has prompted the board to seek external expertise. Houlihan Lokey’s track record in middle‑market advisory positions it to guide ICMB through a potential sale or recapitalization, potentially reshaping the company’s capital structure and shareholder value.
The engagement indicates that ICMB may pursue a sale or restructuring, which could materially affect shareholders and the BDC’s portfolio. Investors should monitor subsequent filings for details on potential transaction terms and valuation.
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