Audax Private Credit Fund, LLC 8-K

What Happened

• Audax Private Credit Fund, LLC filed an 8-K (May 8, 2026) disclosing an unregistered sale of limited liability company interests (the “Shares”) and reporting its net asset value (NAV) as of March 31, 2026.
• On April 1, 2026 the Fund issued 2,025,357.476 Shares; the purchase price per Share and the number issued were finalized on May 7, 2026 at $24.687 per Share, for total proceeds of $50.0 million. The issuance was made under subscription agreements and relied on exemptions under Section 4(a)(2) and Regulation D or S of the Securities Act.

Key Details

• Shares issued: 2,025,357.476 on April 1, 2026; price finalized May 7, 2026 at $24.687 per Share; total consideration $50.0 million.
• NAV per share (as of March 31, 2026): $24.687.
• Aggregate NAV as of March 31, 2026: $516.1 million; fair value of investment portfolio: $1,012.9 million.
• Principal debt outstanding: $516.8 million, implying a debt-to-equity ratio of approximately 1.00x.

Why It Matters

• The Fund raised $50 million through an exempt private sale, which can affect liquidity and capital available for investments or distributions. The sale used investor representations that buyers were accredited or non‑U.S. persons to rely on Reg D or Reg S exemptions.
• NAV per share equals the purchase price ($24.687), and the Fund’s debt roughly equals equity (debt-to-equity ~1.0x). These figures give investors a snapshot of valuation, leverage and recent capital activity without indicating any change in reported NAV methodology.