PIMCO Asset-Based Lending Co LLC 8-K

What Happened

• PIMCO Asset-Based Lending Co LLC filed an 8-K (Dec 31, 2025) reporting that on December 1, 2025 it issued and sold unregistered shares to third‑party investors for cash; the final number of shares was determined on December 29, 2025. The aggregate consideration for the sales totaled $19,244,675. The sales were made pursuant to registration exemptions under Section 4(a)(2) of the Securities Act and/or Regulation D (accredited investors) and Regulation S (non‑U.S. investors).
• The filing also reports Net Asset Value (NAV) per share (the price at which shares are sold) as of November 30, 2025, determined by PIMCO on December 28, 2025 for multiple share classes in Series I and Series II.

Key Details

• Sale date and proceeds: Shares sold on December 1, 2025; aggregate proceeds reported at $19,244,675.
  • Series I proceeds: $2,600,000 (Anchor I $750,000; Anchor II $1,690,000; E $50,000; Standard A $110,000).
  • Series II proceeds: $16,644,675 (Anchor I $11,985,267; Anchor II $4,659,408).
• NAVs per share (as of Nov 30, 2025, set Dec 28, 2025):
  • Series I: Anchor I $10.20; Anchor II $10.17; Anchor II‑B $10.20; E $10.21; Standard A $10.19; Standard B $10.19.
  • Series II: Anchor I $10.25; Anchor II $10.23; Anchor III $10.26; E $10.28; Standard A $10.24.
• As of Dec 28, 2025 there were no Anchor II‑B or Standard B shares outstanding for Series II. The filing includes Exhibit 99.1 with NAV details.

Why It Matters

• Funding and valuation: The reported unregistered sales raised cash of about $19.24 million, which affects the company’s capital base and investor ownership dilution for the affected share classes.
• Pricing and liquidity: The NAVs set the price for share purchases and are a key reference for investors considering buying, holding or redeeming shares.
• Investor access: Sales were private (Reg D/Reg S/Section 4(a)(2)), meaning offerings were limited to accredited and/or non‑U.S. investors rather than a registered public offering.
• Where to find NAVs: NAVs are published on the company’s websites (links provided in the filing), but the filing notes the website contents are not part of the 8‑K.