Antares Strategic Credit Fund II LLC 8-K

What Happened

• Antares Strategic Credit Fund II LLC filed an 8‑K (May 1, 2026) announcing that it declared a regular and special distribution for its common shares payable to holders of record on April 30, 2026, to be paid on or about May 29, 2026. The total net distribution is $0.1828 per share (breakdown below). Distributions will be paid in cash or reinvested under the fund’s distribution reinvestment plan.
• The filing also discloses that the Company is continuing a private offering of Common Shares (U.S. via Section 4(a)(2)/Rule 506 Reg D; non‑U.S. via Regulation S). On April 1, 2026 it received approximately $1.8 million of subscriptions. The offering will continue monthly, generally at an offering price equal to NAV.
• Net asset value (NAV) per share as of March 31, 2026 was $24.71; aggregate NAV ≈ $75.0 million. Loan commitments ≈ $197.3 million; principal debt outstanding ≈ $85.3 million. Debt‑to‑equity (NAV) ≈ 1.14x; net leverage ≈ 1.07x.

Key Details

• Distribution per Common Share (per filing):
  • Gross regular distribution: $0.1849
  • Shareholder servicing/distribution fee: $0.0173
  • Net regular distribution: $0.1676
  • Net special distribution: $0.0152
  • Total net distribution: $0.1828 per share
• Record date/payable date: Record date April 30, 2026; payable on or about May 29, 2026 (cash or reinvestment).
• Private offering activity: ~$1.8M in subscriptions on April 1, 2026; ongoing monthly sales at prices generally equal to NAV.
• March 31, 2026 financial snapshot: NAV/share $24.71; aggregate NAV ~$75.0M; debt outstanding ~$85.3M; loan commitments ~$197.3M; debt-to-equity ≈1.14x; net leverage ≈1.07x.

Why It Matters

• For income-focused investors, the declared distribution ($0.1828 net/share) is the immediate cash/income event and indicates the fund’s current payout activity and optional reinvestment.
• The private offering inflows (≈$1.8M in April) and continued monthly sales at NAV can affect shareholder base and capital available for lending/investment without public market dilution.
• NAV and leverage metrics (NAV $24.71; debt-to-equity ~1.14x; net leverage ~1.07x) give a snapshot of the fund’s capital structure and risk profile—useful when assessing how much leverage the fund is using relative to its NAV.