UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 000-56126 Securities registered pursuant to Section 12(b) of the Act: | | | Name of each exchange on which | | --- | --- | --- | | Title of each class | Trading Symbol(s) | regist ...

Palmer Square Capital BDC Inc. (NYSE:PSBD) Q4 2023 Earnings Conference Call February 28, 2024 11:00 AM ET Company Participants Andrew Wedderburn-Maxwell - Investor Relations Chris Long - Chairman & Chief Executive Officer Angie Long - Chief Investment Officer Matt Bloomfield - President Jeff Fox - Chief Financial Officer & Director Conference Call Participants Kenneth Lee - RBC Capital Markets Melissa Wedel - JPMorgan Operator Welcome to the Palmer Square Capital BDC's Fourth Quarter and Year-End 2023 Earni ...

UARE | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------------------------------|-------|--------------------------------|-------|-------|-------|---------------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Palmer Square Capital BDC Inc. | | | | | | | | | | | ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 000-56126 Palmer Square Capital BDC Inc. (Exact name of registrant as specified in its charter) | Maryland | 84-3665200 | | --- | --- | | (State or Other Jurisdiction of | (I.R.S. Em ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 000-56126 Palmer Square Capital BDC Inc. (Exact name of registrant as specified in its charter) | Maryland | 84-3665200 | | --- | --- | | (State or other jurisdiction of | (I. ...

For the quarterly period ended June 30, 2023 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 000-56126 Palmer Square Capital BDC Inc. (Exact name of registrant as specified in its charter) ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (816) 994-3200 (Registrant's telephone number, including area code) Securities regis ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 000-56126 Palmer Square Capital BDC Inc. (Exact name of registrant as specified in its charter) | Maryland | 84-3665200 | | --- | --- | | (State or other jurisdiction of | (I.R.S. Employer | | incorporation or organization) | Identification No.) | | 1900 Shawnee Mission Parkway, Suite 315, | | | Mission Woods, KS | 66205 | ...

Investment Portfolio - As of December 31, 2022, the company had 204 debt and equity investments in 176 portfolio companies with an aggregate fair value of approximately $966.9 million[328]. - As of December 31, 2022, total investments amounted to $1.12 billion at amortized cost, with a fair value of $1.02 billion[334]. - The investment portfolio at fair value decreased from $1.1 billion as of December 31, 2021, to $966.9 million as of December 31, 2022, a decline of 11.9%[340]. - The net change in unrealized losses on investments for 2022 was $(107.4) million, compared to $(8.5) million in 2021, indicating a significant deterioration in portfolio value[346]. - The company expects to value many of its portfolio investments at fair value, which may differ significantly from values that would have been used if readily available market quotations existed[378]. - The company engages independent valuation providers to review the valuation of each portfolio investment that constitutes a material portion of its portfolio at least once annually[377]. Investment Performance - Total investment income for the year ended December 31, 2022, was $74.5 million, a significant increase from $39.7 million in 2021, representing an 87.7% growth[337]. - Net investment income for 2022 was $41.1 million, compared to $22.8 million in 2021, reflecting an increase of 80.0%[337]. - The weighted average total yield to maturity of debt and income-producing securities at fair value was 11.47% as of December 31, 2022, compared to 5.77% as of December 31, 2021[327][328]. - The weighted average total yield of debt and income-producing securities rose to 11.47% in 2022 from 5.77% in 2021[336]. Investment Strategy - The company aims to maximize total return through current income and capital appreciation, focusing on corporate debt securities and CLO structured credit[324]. - The company expects to continue evaluating other investment strategies without a specific allocation to any single strategy[324]. Debt and Financing - The principal amount of first-lien senior secured debt investments funded in 2022 was $247.23 million, down from $829.59 million in 2021[332]. - Average debt outstanding increased from $477.0 million in 2021 to $667.5 million in 2022, an increase of 40.0%[342]. - As of December 31, 2022, the principal outstanding under the Bank of America Credit Facility was approximately $514.5 million, with $210.5 million of available commitments[358]. - Under the Wells Fargo Credit Facility, as of December 31, 2022, approximately $126.8 million was outstanding, with $23.2 million of available commitments[363]. - The Bank of America Credit Facility's commitment amount increased from $200 million to $725 million over various dates, with the ability to draw scheduled to terminate on February 11, 2025[355]. - The Wells Fargo Credit Facility has a facility amount of $150 million, with the ability to draw scheduled to terminate on December 18, 2023[360]. - The interest rates for loans under the Bank of America Credit Facility are base rate plus 1.30% or LIBOR plus 1.30%[356]. - The interest rates for loans under the Wells Fargo Credit Facility are LIBOR or base rate plus 1.85% for Broadly Syndicated Loans and plus 2.35% for Middle Market Loans[361]. Expenses and Obligations - Net expenses for 2022 were $33.4 million, up from $16.9 million in 2021, marking a 97.5% increase[341]. - The company has significant contractual obligations totaling $641,309,417, with $513,726,164 due in the 1-3 year period and $127,583,253 in the 3-5 year period[383]. - As of December 31, 2022, the company had two unfunded commitments totaling $2.6 million, compared to nine unfunded commitments totaling $11.3 million as of December 31, 2021[384]. Dividends and Shareholder Returns - The company intends to distribute quarterly dividends to stockholders, with a goal to distribute at least 90% of net ordinary income and net short-term capital gains to maintain RIC tax treatment[365]. - The company has adopted a dividend reinvestment plan, allowing stockholders to reinvest dividends in additional shares unless they opt for cash[369]. Management and Governance - The company is externally managed by an Investment Advisor, which is a majority-owned subsidiary of Palmer Square, specializing in global alternative investments[323]. - The Board has designated the Investment Advisor to serve as the valuation designee for determining fair value of portfolio investments effective August 11, 2022[376]. - The company has a registered investment adviser that is majority-owned by Palmer Square, with related party transactions involving board members[381]. Risk Management - Interest rate sensitivity indicates that a 100 basis point increase in interest rates could result in an increase of $10,526,946 in net investment income[388]. - The company anticipates that changes in interest rates could have a material adverse effect on net investment income due to its reliance on borrowings[386]. - The company may hedge against interest rate and currency exchange rate fluctuations using standard hedging instruments[390]. - The company has entered into an Advisory Agreement with an annual base management fee of 2.0% of the average value of total net assets[382].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 000-56126 Palmer Square Capital BDC Inc. (Exact name of registrant as specified in its charter) | Maryland | 84-3665200 | | --- | --- | | (State or other jurisdiction of | (I. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 000-56126 Palmer Square Capital BDC Inc. (Exact name of registrant as specified in its charter) | Maryland | 84-3665200 | | --- | --- | | (State or other jurisdiction of | (I.R.S. ...