Golub Capital Private Income Fund S 8-K

What Happened

• Golub Capital Private Income Fund S filed an 8-K on June 23, 2026 disclosing three items: an unregistered sale of common shares (effective June 1, 2026), the Fund’s declared June 2026 distribution, and a portfolio and NAV update as of May 31, 2026.
• The Fund sold 71,086 unregistered common shares at a NAV of $24.21 per share (total consideration $1,720,990). The offer was exempt from registration under Section 4(a)(2), Regulation D, and/or Regulation S. No underwriting discounts or commissions were paid; intermediaries may charge up to 3.5% of NAV for certain transactions.
• The Fund confirmed its gross June 2026 distribution of $0.1667 per common share (estimated servicing/distribution fee $0.0169; net distribution $0.1498). The record date is June 30, 2026 (open of business) and expected payment date is on or about July 30, 2026. Shareholders may receive cash or reinvest distributions in common shares under the Fund’s reinvestment plan.
• Portfolio/NAV update as of May 31, 2026: NAV per common share $24.21; aggregate NAV ≈ $116 million; portfolio fair value ≈ $248 million across 148 portfolio companies; debt outstanding ≈ $141 million. Debt-to-equity leverage ratio was 1.23x (GAAP net debt-to-equity 1.17x). Debt investments were ~98% first-lien senior secured and ~100% floating rate (three small holdings <1% fixed).

Key Details

• Unregistered sale on June 1, 2026: 71,086 shares at $24.21 = $1,720,990.
• June 2026 distribution: Gross $0.1667; servicing/distribution fee est. $0.0169; Net $0.1498; record date 6/30/2026; pay date ~7/30/2026.
• Portfolio (5/31/2026): 148 companies; portfolio fair value ≈ $248M; NAV ≈ $116M; debt ≈ $141M; leverage 1.23x.
• Top industry exposures by fair value: Software 25%, Insurance 10%, Healthcare Providers & Services 6%, Hotels/Restaurants/Leisure 6%.

Why It Matters

• The filing provides liquidity and cash-flow details investors care about: a modest equity raise ($1.72M) done at NAV, the regular monthly distribution amount and schedule, and up-to-date portfolio, NAV and leverage metrics.
• The portfolio remains heavily weighted to first-lien, floating-rate debt (reducing interest-rate duration risk) and concentrated in software and insurance sectors—useful context for assessing risk and income stability.
• Record and pay dates for the June distribution are important for investors deciding whether to buy, sell, or opt into the distribution reinvestment plan before June 30, 2026.