Golub Capital Private Income Fund I 8-K

What Happened
Golub Capital Private Income Fund I filed an 8-K (May 26, 2026) announcing three items: a May 2026 regular distribution, the sale of unregistered common shares on May 1, 2026, and a portfolio and NAV update as of April 30, 2026. The Fund reported NAV per Common Share of $24.22 and provided details on portfolio composition, leverage and industry exposure. The filing was signed by Paul Solini, Chief Accounting Officer, on May 22, 2026.

Key Details

• Unregistered share sale (May 1, 2026): 87,386 Common Shares sold at NAV $24.22 for total consideration $2,116,500; sale exempt from registration (Section 4(a)(2), Reg D and/or Reg S). No underwriting fees or sales loads paid.
• Distribution: Declared regular distribution for May 2026 of $0.1667 per Common Share; record date May 31, 2026; payable on or about June 29, 2026; payable in cash or reinvested under the Fund’s DRIP.
• Portfolio & NAV (as of April 30, 2026): 142 portfolio companies; portfolio fair value ≈ $433 million; aggregate NAV ≈ $202 million; total debt outstanding ≈ $247 million. NAV per Common Share: $24.22.
• Portfolio mix and leverage: First-lien senior secured loans ≈ 99% of portfolio by fair value; equity ≈ 1% (less than 1% junior debt). Almost all debt investments are floating rate; debt-to-equity leverage ratio 1.24x (GAAP net debt-to-equity 1.19x). Top industry exposures: Software 23%, Insurance 10%, Commercial Services & Supplies 7%, Healthcare-related ~15% combined.

Why It Matters
This 8-K gives investors updated cash distribution information, a small capital raise via unregistered share issuance, and a snapshot of the Fund’s portfolio and leverage. Key facts—NAV per share ($24.22), modest new issuance ($2.1M), heavy concentration in first‑lien floating-rate loans, and sector weights (notably software exposure)—help shareholders assess income expectations, portfolio risk, and capital structure. The declared distribution and the NAV figure are the most directly relevant items for current and prospective retail investors.