Golub Capital BDC 4 Announces $68.07M Unregistered Stock Sale

What Happened
Golub Capital BDC 4, Inc. delivered a capital drawdown notice on September 14, 2026 to sell 4,537,866.264 shares of its common stock for an aggregate offering price of $68.07 million. The company said the sale is expected to close on or around September 24, 2026 and is being made pursuant to subscription agreements with its stockholders.

Key Details

• Drawdown notice delivered: September 14, 2026; expected close: on or around September 24, 2026.
• Shares to be issued: 4,537,866.264 shares of common stock for $68.07 million aggregate.
• Mechanism: issued under existing subscription agreements requiring stockholders to fund drawdowns up to their capital commitments with at least 10 days’ prior notice.
• Registration/exemption: issuance is unregistered and exempt from Securities Act registration under Section 4(a)(2) and Regulation D; company relied on stockholders’ representations that they are accredited investors.
• Filing signed by Paul Solini, Chief Accounting Officer, on September 16, 2026.

Why It Matters
This transaction represents a capital raise from existing stockholders under the company’s subscription agreements, bringing approximately $68.07 million of cash into the business and increasing the number of outstanding common shares. The sale is limited to participating stockholders (who represented they are accredited investors) and is being completed as an unregistered offering under Regulation D. Investors should note this is a shareholder-directed capital drawdown, not a public registered offering.