Amwal Investments LLC 4

What Happened Amwal Investments LLC, reported as a 10% owner of 26North BDC, acquired 497,305.20 shares of 26North BDC common stock on March 23, 2026 at $25.14 per share, a transaction totaling about $12,502,253. The issuance resulted from a capital contribution tied to a capital call from the company (i.e., shares were issued to Amwal in exchange for its contribution), so this was an institutional purchase/issuance rather than a routine open-market buy by an executive.

Key Details

• Transaction date and price: March 23, 2026 — 497,305.20 shares at $25.14/share (total ≈ $12,502,253).
• Consideration: Footnote reports Amwal was obligated to contribute $12,500,000 under a capital call; the company issued 497,305.20 shares on that date.
• Shares held after transaction: 497,305.20 shares reported as held directly by Amwal.
• Reporting relationship: Amwal is a wholly owned subsidiary of Abu Dhabi Investment Council Company P.J.S.C. (ADIC); both entities are included as reporting persons, with customary disclaimers of beneficial ownership beyond pecuniary interest.
• Filing timeliness: Form 4 was filed March 25, 2026, two days after the March 23 transaction (consistent with normal Form 4 timing).

Context This was an institutional capital contribution and share issuance for a 10% owner, not an individual executive trade. Purchases by large shareholders can reflect continued capital support but are different from an insider "buying on the open market" signal; the filing includes a beneficial-ownership disclaimer by ADIC. No options, awards, gifts, or tax-withholding items were involved.