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|8-KJan 30, 5:18 PM ET

PIMCO Asset-Based Lending Co LLC 8-K

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PIMCO Asset-Based Lending Co LLC Reports Unregistered Share Sales and NAV

What Happened
PIMCO Asset-Based Lending Co LLC filed an 8-K (Items 3.02 and 8.01) disclosing unregistered sales of limited liability company interests and the net asset value (NAV) per share as of December 31, 2025. On January 2, 2026 (final share counts determined January 28, 2026), the Company sold shares in Series I and Series II to third‑party investors for cash. Notable sales include Series II Anchor I — 1,954,869 shares for $20,210,300 and Series II Anchor II — 1,814,695 shares for $18,720,359. The share offers were exempt from registration under Section 4(a)(2) (including Regulation D and/or Regulation S).

Key Details

  • Net Asset Value (per share, as of 12/31/2025):
    • Series I Anchor I: $10.27; Anchor II: $10.23; E: $10.29; Standard A: $10.24.
    • Series II Anchor I: $10.34; Anchor II: $10.32; Anchor III: $10.36; E: $10.38; Standard A: $10.31.
  • Unregistered sales (selected):
    • Series II Anchor I: 1,954,869 shares for $20,210,300.
    • Series II Anchor II: 1,814,695 shares for $18,720,359.
    • Series I Anchor II: 78,197 shares for $800,000; Series I Standard A: 9,766 shares for $100,000.
  • Share repurchase program: Company intends (but is not obligated) to conduct quarterly repurchases of up to 5.0% of aggregate NAV (across both Series, excluding V shares). Repurchase price is based on NAV as of the last day of the prior quarter. For the current quarter: repurchase request deadline Feb 11, 2026; expected payment date Feb 19, 2026.
  • The sale exemptions relied on Section 4(a)(2)/Reg D/Reg S; the filing includes Exhibit 99.1 with NAV details.

Why It Matters
These disclosures affect investors by updating outstanding share counts, the NAVs used for purchases and potential repurchases, and near-term liquidity mechanics. Large cash subscriptions in Series II materially increased invested capital in that series. The repurchase program (up to 5% of NAV per quarter) can provide limited liquidity or support share pricing, but repurchases are discretionary and may be limited or not executed. Investors should note NAV levels for valuing holdings and the filing’s forward‑looking statements and related cautionary language.