PIMCO Asset-Based Lending Co LLC 8-K

What Happened

• PIMCO Asset‑Based Lending Company LLC filed an 8‑K on May 4, 2026 disclosing unregistered sales of limited liability company interests (Shares), Net Asset Value (NAV) per Share as of March 31, 2026, declared distributions on April 30, 2026, and a quarterly share repurchase program. The Shares were sold on April 1, 2026 (final numbers determined April 28, 2026) and the share sales were exempt from registration under Section 4(a)(2)/Reg D and/or Reg S.
• The company reported NAVs by class (examples): Series I Anchor I $10.24, Anchor II $10.19, E $10.26; Series II Anchor I $10.32, Anchor II $10.29, E $10.36. Distributions were declared April 30, payable on or about May 20, 2026 (e.g., Series I E Shares $0.0664; Series II E Shares $0.0822).

Key Details

• Share issuances (April 1, 2026; final counts April 28, 2026): Series II raised aggregate consideration of approximately $44,183,311 across listed classes (examples: Anchor I — 2,115,055 shares for $21,818,877; Anchor II — 1,337,594 shares for $13,763,734). Series I issuances totaled roughly $91,928.
• NAV per Share (as of March 31, 2026): Series I classes ~ $10.19–$10.26; Series II classes ~ $10.28–$10.36 (repurchase prices are set at these NAVs).
• Distributions declared April 30, 2026: payable to holders of record April 30 and paid or reinvested about May 20, 2026 (examples: Series I Anchor I $0.0574; Series II Anchor I $0.0730).
• Repurchase plan: company may repurchase up to 5.0% of aggregate NAV (across both Series, excluding V Shares) each quarter; repurchase request deadline for the quarter was May 12, 2026, with expected payment May 19, 2026. Repurchases are discretionary and may be limited.

Why It Matters

• Capital and liquidity: The disclosed unregistered share sales (notably >$44M in Series II classes) indicate recent capital inflows for the fund. The repurchase plan offers a potential, but not guaranteed, liquidity option for shareholders (up to 5% of NAV quarterly).
• Income and valuation signals: Declared distributions provide near-term income to shareholders; NAVs around $10.2–$10.36 per share show the fund’s per‑share valuation used for pricing sales, repurchases and reinvestment.
• Compliance and limits: Sales were made under private/offshore exemptions (Reg D/Reg S), so offerings targeted accredited and/or non‑U.S. investors; repurchases are subject to the LLC Agreement and the company’s discretion. The filing also includes standard forward‑looking statement cautions.