ICMB

EX-99.1

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EX-99.1

EX-99.1

Exhibit 99.1

Investcorp Credit Management BDC, Inc. Announces Financial Results for the Quarter Ended

March 31, 2026

Investcorp Credit Management BDC, Inc. (NASDAQ: ICMB) (“ICMB” or the “Company”) announced its financial results today for its fiscal quarter ended March 31, 2026.

HIGHLIGHTS

•

ICMB fully realized its investments in three portfolio companies during the quarter, totaling $12.7 million in proceeds. The internal rate of return on these investments was 10.67%.

•

During the quarter, ICMB made an investment in one existing portfolio company. The investment was $0.1 million, at cost.

•

During the quarter, the Company had net repayments of $0.7 million on delayed draw and revolving credit commitments to portfolio companies.

•

The weighted average yield on debt investments, at fair market value, as of March 31, 2026, was 11.95%, compared to 10.56% for the quarter ended December 31, 2025.

•

Net asset value decreased $0.60 per share to $3.65, compared to $4.25 as of December 31, 2025. Net assets decreased by $8.6 million, or 14.07%, during the quarter ended March 31, 2026 compared to December 31, 2025.

•

On March 30, 2026, ICMB refinanced its existing 4.875% Notes with new unsecured notes provided by an affiliate of its investment adviser with a floating rate of interest of SOFR plus 5.5% and a maturity of July 1, 2029. During the quarter, the Company also repaid $14.0 million of the Capital One, N.A. (“Capital One”) revolving credit facility at the special purpose vehicle (“SPV”) of the Company using restricted cash not available for repayment of the new 2029 Notes.

•

As noted in our 10-Q, we have reduced the Capital One revolving credit facility commitment from $100 million to $50 million, which will save the Company approximately $401 thousand in undrawn commitment fees annually.

•

ICMB’s investment adviser has waived $456 thousand of management fees for the quarter to further support liquidity of the business.

Portfolio results, as of and for the three months ended March 31, 2026:

Total assets

$164.6 million

Investment portfolio, at fair value

$151.4 million

Net assets

$52.7 million

Weighted average yield on debt investments, at fair market value (1)

11.95%

Net asset value per share

$3.65

Portfolio activity in the current quarter:

Number of investments in new portfolio companies during the period

0

Number of portfolio companies invested in, end of period

34

Total capital invested in existing portfolio companies (2)

$1.2 million

Total proceeds from repayments, sales, and amortization (3)

$14.0 million

Net investment income before taxes (NII)

$0.3 million

Net investment income before taxes per share

$0.02

Net decrease in net assets from operations

($8.6) million

Net decrease in net assets from operations per share

($0.60)

Distributions paid per common share

$0.00

(1)

Represents average yield on total debt investments weighted by fair market value as of March 31, 2026. The weighted average yield on total debt investments reflected above does not represent actual investment returns to the Company’s stockholders.

(2)

Includes gross advances for delayed draw and revolving credit commitments and PIK interest to existing portfolio companies.

(3)

Includes gross repayments on existing delayed draw and revolving credit commitments to portfolio companies.

Mr. Suhail A. Shaikh, chief executive officer of ICMB, said “We remain focused on capital preservation and disciplined liquidity management as our near-term priorities. New investment activity remained muted during the quarter, reflecting our selective approach to capital deployment. We continue to work closely with our portfolio company management teams and remain committed to maximizing value for our shareholders as we evaluate the path forward.”

Mr. Andrew Muns, chief financial officer of ICMB, noted: “We continue to take a proactive approach to managing the Company’s liquidity with initiatives such as the reduction in unneeded capital commitment from our credit facility and the waiver of additional management fees this quarter.”

Portfolio and Investment Activities

During the quarter, the Company made a $0.1 million investment in one existing portfolio company.

The Company received proceeds of $14.0 million from repayments, sales and amortization during the quarter, primarily related to the realization of INW Manufacturing term loan, PVI Holdings term loan, and Asurion term loan.

During the quarter, the Company had net draws of $0.7 million on delayed draw and revolving credit commitments to portfolio companies.

The Company’s net realized and unrealized gains and losses accounted for a decrease in the Company’s net assets of approximately $8.8 million, or $0.61 per share. The total net decrease in net assets resulting from operations for the quarter was $8.6 million, or $0.60 per share.

As of March 31, 2026, the Company’s investment portfolio consist

EX-99.1

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EX-99.1

EX-99.1

Exhibit 99.1

Investcorp Credit Management BDC, Inc. Announces Financial Results for the Quarter and Year Ended December 31, 2025

Board Announces Review of Strategic Alternatives to Maximize Shareholder Value Led by Special Committee of Independent Directors

Company to Host Conference Call April 1st to Discuss the Financial Results

Investcorp Credit Management BDC, Inc. (NASDAQ: ICMB) (“ICMB” or the “Company”) announced its financial results today for its fiscal quarter and year ended December 31, 2025 and its Board has commenced a review of strategic alternatives led by a Special Committee of Independent Directors.

The Special Committee will be evaluating a broad range of strategic, financial and business configuration options for the Company. In parallel, the Board has decided to not declare a quarterly dividend for the current quarter ended March 31, 2026.

FINANCIAL HIGHLIGHTS

•

During the quarter, ICMB made a $1.5 million investment in one existing portfolio company.

•

ICMB fully realized its investments in three portfolio companies during the quarter, totaling $8.2 million in proceeds. The internal rate of return on these investments was 10.59%.

•

During the quarter, the Company had net draws of $1.8 million on delayed draw and revolving credit commitments to portfolio companies.

•

The weighted average yield on debt investments, at fair market value, as of December 31, 2025, was 10.56%, compared to 10.87% for the quarter ended September 30, 2025.

•

Net asset value decreased $0.79 per share to $4.25, compared to $5.04 as of September 30, 2025. Net assets decreased by $11.4 million, or 15.65%, during the quarter ended December 31, 2025 compared to September 30, 2025.

•

On March 30, 2026, ICMB refinanced its existing 4.875% Notes with new unsecured notes provided by an affiliate of its investment adviser with a floating rate of interest of SOFR plus 5.5% and a maturity of July 1, 2029.

Portfolio results, as of and for the three months ended December 31, 2025:

Total assets

$ 188.8 million

Investment portfolio, at fair value

$ 172.7 million

Net assets

$ 61.3 million

Weighted average yield on debt investments, at fair market value (1)

10.56 %

Net asset value per share

$ 4.25

Portfolio activity in the current quarter:

Number of investments in new portfolio companies

0

Number of portfolio companies invested in

37

Total capital invested in existing portfolio companies (2)

$ 3.9 million

Total proceeds from repayments, sales, and amortization (3)

$ 10.3 million

Net investment income before taxes (NII)

$ 0.3 million

Net investment income before taxes per share

$ 0.02

Net decrease in net assets from operations

($ 9.4) million

Net decrease in net assets from operations per share

($ 0.65 )

(1)

Represents average yield on total debt investments weighted by fair market value as of December 31, 2025. The weighted average yield on total debt investments reflected above does not represent actual investment returns to the Company’s stockholders.

(2)

Includes gross advances for delayed draw and revolving credit commitments and PIK interest to existing portfolio companies.

(3)

Includes gross repayments on existing delayed draw and revolving credit commitments to portfolio companies.

1

Mr. Suhail A. Shaikh, chief executive officer of ICMB, said “We remain focused on actively managing our portfolio and continue to work closely with our portfolio company management teams and private equity sponsors. New deal activity was relatively muted for ICMB during the quarter. We remain disciplined in managing the Company’s capital, balancing debt repayment with new investments. Subsequent to the end of the quarter, we refinanced our maturing 4.875% Notes with debt capital from an affiliate of our investment adviser.” Mr. Shaikh continued, “As we continue to navigate the current market environment, we believe now is the appropriate time to consider strategic alternatives for the Company that could allow us to more effectively maximize value for our shareholders. As the Board conducts its review, our team will remain focused on executing our strategic priorities.”

Mr. Robert Andrew Muns, chief financial officer of ICMB, noted: “Given the current market environment, our priority is disciplined capital allocation, including selective capital deployment and portfolio rotation, consistent with our focus on protecting net asset value, enhancing long-term shareholder value and maintaining adequate liquidity. Our Board’s determination to not declare a dividend this quarter and initiate a strategic review is consistent with this priority, which will likely guide its approach with respect to future dividends while taking into account the minimum distribution requirements necessary for us to maintain our regulated investment company tax status.”

Portfolio and Investment Activities

During the quarter, the Company made a $1.5 million investment in one

8-K

false 0001578348 0001578348 2025-11-13 2025-11-13

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 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 13, 2025

Investcorp Credit Management BDC, Inc. (Exact name of registrant as specified in its charter)

Maryland

814-01054

46-2883380

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification Number)

280 Park Avenue 39th Floor New York, NY 10017 (Address of principal executive offices and zip code) Registrant’s telephone number, including area code: (212) 257-5199 Not Applicable (Former Name or Former Address, if changed since last report)

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ 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(s)

Name of Each Exchange on Which Registered

Common Stock, par value $0.001 per share

ICMB

The NASDAQ Global Select Market Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company ☐ 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 2.02. Results of Operations and Financial Condition. On November 13, 2025, Investcorp Credit Management BDC, Inc. (the “Company”) issued a press release announcing its preliminary financial results for the fiscal quarter ended September 30, 2025. The text of the press release is attached as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference. Additionally, on November 15, 2025, the Company made available on its website, https://icmbdc.com/reports-presentations, a supplemental investor presentation with respect to the earnings release. A copy of the investor presentation is being furnished as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference. The information in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 and 99.2 furnished herewith, is being furnished and shall not be deemed “filed” for any purpose of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of such Section. The information in this Current Report on Form 8-K shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. Item 9.01. Financial Statements and Exhibits. (d) Exhibits:

Exhibit Number

Description

99.1

Press Release, dated November 13, 2025

99.2

Investor Presentation, dated November 15, 2025

104

Cover Page Interactive Data File (embedded within the Inline XBRL document).

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 hereunto duly authorized.

Dated: November 17, 2025

INVESTCORP CREDIT MANAGEMENT BDC, INC.

By:

/s/ Suhail A. Shaikh

Name: Title:

Suhail A. Shaikh President and Chief Executive Officer