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Private company

Audax Credit BDC Inc.

Investment fund that raised $638.1 million in 2015 (SEC Form D)2

In its 2026 annual report the company says: “We are an externally managed, closed-end, non-diversified management investment company that has elected to be treated as a business development company, or BDC, under the Investment Company Act of 1940, as amended, or the 1940 Act. In addition, we have elected to be treated for federal income tax purposes as a regulated investment company, or RIC, under Subchapter M of the Internal Revenue Code of 1986, as amended, or the Code. Our investment objective is to generate current income and, to a lesser extent, long-term capital appreciation.”10 It is headquartered in Boston, United States.2

Last updated Oct 21, 2026.

Overview

  • HeadquartersBoston, United States2
  • Incorporated inDE3
  • Business address101 Huntington Avenue, Boston, Ma 021993
  • Filer category, Emerging growth company3
  • Legal formCorporation2
  • Kind of organizationInvestment fund2
  • LEI549300QY0GQNIB9UCB232
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressC/O The Corporation Trust Company, 19801 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 56804262

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Net income456$25.8M in 2025+45% since 2021
0$10.0M$20.0M$30.0M$40.0M2021: $17.8M$17.8M20212022: $19.0M$19.0M2022+7%2023: $34.3M$34.3M2023+80%2024: $31.6M$31.6M2024−8%2025: $25.8M$25.8M2025−18%
Fiscal year202120222023202420252026
Interest$712.0K5$446.1K6$06$06
Net income$17.8M4$19.0M5$34.3M6$31.6M6$25.8M6
Earnings per share$0.454$0.425$0.776$0.686$0.556
Earnings per share (diluted)$0.454$0.425$0.776$0.686$0.556
Shares (weighted, basic)39.5M shares445.1M shares544.5M shares646.2M shares647.0M shares6
Shares (weighted, diluted)39.5M shares445.1M shares544.5M shares646.2M shares647.0M shares6

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Corporate structure

Audax Credit BDC Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Audax Credit BDC Inc.

  • Audax Credit BDC Inc. Boston, Massachusetts, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Audax Credit BDC Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$12.8M6 Dec 31, 2025$19.7M6 Dec 31, 2024−35.1%

Properties, in its own words

Our headquarters are located at 320 Park Avenue, New York, NY 10022, and are provided by our Administrator. We reimburse our Administrator for such costs on an allocated basis, in accordance with the terms of our Administration Agreement. We believe that our office facilities are suitable and adequate for our business.

Item 2 of the 10-K filed Mar 20, 2026.10

Leadership

Who has led Audax Credit BDC Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Michael P. McGonigle2015

Chair

  1. Michael P. McGonigle2015

President

  1. Michael P. McGonigle2015

Chief financial officer

  1. Richard T. Joseph2015
20202025
Board members and other officers (6)

Timeline

  1. Sep 30, 20268-K Other events19
  2. Jul 1, 20268-K Other events20
  3. Mar 31, 20268-K Other events21
  4. Dec 22, 20258-K Other events22
  5. Dec 19, 20258-K Entered a material agreement23
  6. Sep 29, 20258-K Other events24
  7. Jun 30, 20258-K Other events25
  8. May 13, 20258-K Bylaws or fiscal year changed26
  9. Mar 31, 20258-K Other events27
  10. Dec 23, 20248-K Other events28
  11. Oct 17, 20248-K Unregistered sale of shares29
  12. Oct 7, 20248-K Entered a material agreement30
  13. Jun 16, 2015New chief executive Michael P. McGonigle becomes CEO11

Filings

93 filings to the SEC since October 2021: 5 annual reports, 16 quarterly reports, 27 major events, 6 large holders, 6 private raises, 33 other. The latest 20:

  1. Sep 30, 20268-K EDGAR
  2. Sep 8, 2026D/A EDGAR
  3. Aug 13, 202610-Q EDGAR
  4. Jul 1, 20268-K EDGAR
  5. May 12, 202610-Q EDGAR
  6. Mar 31, 20268-K EDGAR
  7. Mar 27, 2026DEF 14A EDGAR
  8. Mar 25, 2026SC TO-I/A EDGAR
  9. Mar 20, 202610-K EDGAR
  10. Jan 13, 2026SC TO-I EDGAR
  11. Dec 22, 20258-K EDGAR
  12. Dec 19, 20258-K EDGAR
  13. Nov 14, 202540-17G EDGAR
  14. Nov 12, 202510-Q EDGAR
  15. Sep 29, 20258-K EDGAR
  16. Sep 8, 2025D/A EDGAR
  17. Aug 25, 2025APP ORDR EDGAR
  18. Aug 12, 202510-Q EDGAR
  19. Jul 25, 2025APP NTC EDGAR
  20. Jun 30, 20258-K EDGAR

The 93 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$638.1M 2015–2015
Money received by yearMoney received by year, 2015–2015: $638.1M in all. Private raises (Form D) $638.1M.$0$200M$400M$600M$800M2015 · Private raises (Form D): $638.1M2015
Figures by year
YearPrivate raises (Form D)Total
2015$638.1M$638.1M

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Jul 8, 2015Raised $638.1 million in a private offering of equity33 Form D: 2 investors so far Form D

SEC filer profile

How Audax Credit BDC Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARAudax Credit BDC Inc.1
  • CIK0001633858
  • Employer ID (EIN)47-303912410
  • Filer statusNon-accelerated filer an emerging growth company; not a smaller reporting company; not a shell company10
  • Incorporated inDelaware10
  • Fiscal year endsDecember 311
  • Business address101 Huntington Avenue, Boston, MA 021991
  • Phone(617) 859-15131
  • Shares outstanding47,020,475 as of Aug 13, 20268
  • Public float$0 as of Dec 31, 20256
  • AuditorErnst & Young LLP, New York, NY PCAOB ID 42; no auditor attestation of internal control over financial reporting10
  • On EDGAR sinceApr 17, 20151
  • Filings221 in all: 8-K (72), 10-Q (34), SC 13G/A (18), D/A (12), 10-K (11), 3 (11), 40-17G (11), DEF 14A (11)1
    All 22 form types

    SC TO-I (9), SC TO-I/A (9), CORRESP (5), 40-APP/A (4), 10-12G/A (2), 40-APP (2), APP NTC (2), SC 13G (2), 10-12G (1), 10-Q/A (1), 40-17G/A (1), APP ORDR (1), D (1), N-54A (1)

  • Latest filingsAnnual report (10-K) Mar 20, 2026
    Quarterly report (10-Q) Aug 13, 2026
    Proxy statement (DEF 14A) Mar 27, 2026
    Latest 8-K (8-K) Sep 30, 2026

Securities registered for trading

ClassSymbolExchange
None

From the cover page of the 10-K filed Mar 20, 2026 (Section 12(b) of the Exchange Act).10

Risk factors and legal proceedings

The risks Audax Credit BDC Inc. names in Item 1A of its 10-K filed Mar 20, 2026: 66 risks under these headings, as written.10

  • Risks Related to our Investments
  • Investing in the Shares involves a high degree of risk.
  • Our investments in portfolio companies may be risky, and we could lose all or part of our investment.
  • We are a non-diversified investment company within the meaning of the 1940 Act, and therefore we are not limited with respect to the proportion of our assets that may be invested in securities of a single issuer.
  • We generally do not control the business operations of our portfolio companies and management of our portfolio companies could make decisions adverse to our interests as debt investors.
  • Economic recessions or downturns could impair our portfolio companies and harm our operating results.
  • A covenant breach by a portfolio company may harm our operating results.
  • Global markets could enter a period of severe disruption and instability due to catastrophic events, such as terrorist attacks, acts of war, natural disasters, and outbreaks of epidemic, pandemic or contagious diseases, which could impair our portfolio companies’ financial positions and operating results and affect the industries in which we invest and, in turn, harm our operating results.
  • Changes to U.S. tariff and import/export regulations may affect our portfolio companies, and may negatively impact our business, results of operations or financial conditions.
  • An investment strategy focused primarily on privately held companies presents certain challenges, including the lack of available information about these companies.
  • Our portfolio securities may be thinly traded and, as a result, the lack of liquidity in our investments may adversely affect our business.
  • We may hold the debt securities of leveraged companies that may, due to the significant volatility of such companies, enter into bankruptcy proceedings.
The other 55 risks
  • The financial projections of our portfolio companies could prove inaccurate.
  • Price declines in the corporate leveraged loan market may adversely affect the fair value of our portfolio, reducing our net asset value through increased net unrealized depreciation.
  • We are exposed to risks associated with changes in interest rates.
  • Our portfolio companies may incur debt that ranks equally with, or senior to, our investments in such companies.
  • To the extent we make investments in restructurings and reorganizations they may be subject to greater regulatory and legal risks than other traditional investments in portfolio companies.
  • There may be circumstances where our debt investments are subordinated to claims of other creditors, or we could be subject to lender liability claims.
  • We may not have the funds or ability to make additional investments in our portfolio companies.
  • Prepayments of our debt investments by our portfolio companies could adversely impact our results of operations and reduce our return on equity.
  • To the extent OID or PIK constitutes a portion of our income, we will be exposed to risks associated with the deferred receipt of cash representing such income.
  • Risks Relating to the Shares
  • There is no public market for the Shares, and we do not expect any market for the Shares to develop.
  • We may be unable to invest a significant portion of the net proceeds of any offering of the Shares on acceptable terms in an acceptable timeframe.
  • Risks Relating to Our Business and Structure
  • We have a limited operating history.
  • Our portfolio may be concentrated in a limited number of portfolio companies and industries, which will subject us to a risk of significant loss if any of these companies defaults on its obligations under any of its debt instruments or if there is a downturn in a particular industry.
  • Because our business model depends to a significant extent upon relationships with corporations, financial institutions and investment firms, the inability of our Adviser to maintain or develop these relationships, or the failure of these relationships to generate investment opportunities, could adversely affect our business.
  • We may face increasing competition for investment opportunities, which could delay deployment of our capital, reduce returns and result in losses.
  • We may not be able to pay you distributions, and our distributions may not grow over time.
  • We may need to raise additional capital to grow because we must distribute most of our income.
  • A significant portion of our investment portfolio is recorded at fair value as determined in good faith by our Valuation Designee and, as a result, there is uncertainty as to the value of our portfolio investments.
  • Our distribution proceeds may exceed our earnings, particularly during the period before we have substantially invested the net proceeds from any offering of the Shares. We have not established any limit on the extent to which we may use proceeds from any offering of the Shares to fund distributions, which may reduce the amount of capital we ultimately invest in assets.
  • Our Adviser may change our operating policies and strategies without prior notice or stockholder approval, the effects of which may be adverse to our stockholders.
  • We are subject to risks associated with cybersecurity and cyber incidents which may adversely affect our business by causing a disruption to our operations, a compromise or corruption of our confidential information and/or damage to our business relationships, all of which could negatively impact our business, financial condition and operating results.
  • Price declines and illiquidity in the corporate debt markets may adversely affect the fair value of our portfolio investments, reducing our net asset value through increased net unrealized depreciation.
  • We are subject to risks in using custodians and other agents.
  • We are subject to risks associated with artificial intelligence and machine learning technology.
  • The outcome of the U.S. presidential, congressional and other elections creates significant uncertainty with respect to the legal, tax and regulatory regime in which we and our portfolio companies will operate.
  • Global economic, political and market conditions may adversely affect our business, results of operations and financial condition, including our revenue growth and profitability.
  • Risks Related to our Adviser and its Affiliates
  • Our Adviser and its affiliates, including our officers and some of our directors, could face conflicts of interest caused by compensation arrangements with us, which could result in actions that are not in the best interests of our stockholders.
  • The Investment Advisory Agreement and the Administration Agreement were not negotiated on an arm’s length basis and may not be as favorable to us as if they had been negotiated with an unaffiliated third party.
  • The time and resources that individuals associated with our Adviser devote to us may be diverted, and we may face additional competition due to the fact that our Adviser is not prohibited from raising money for or managing other entities that make the same types of investments that we target.
  • We may be obligated to pay our Adviser incentive compensation even if we incur a loss.
  • We may make investments that could give rise to a conflict of interest.
  • Our ability to achieve our investment objective depends on our Adviser’s ability to manage and support our investment process. If our Adviser were to lose its key professional(s), our ability to achieve our investment objective could be significantly harmed.
  • Risks Related to our Election to be Regulated as a BDC and Subject to Tax as a RIC
  • We are subject to corporate-level income tax if we are unable to qualify as a RIC under Subchapter M of the Code or to satisfy RIC distribution requirements.
  • We may choose to pay distributions in the form of the Shares, in which case our investors may be required to pay federal income taxes in cash in excess of the cash distributions they receive.
  • If we do not qualify as a “publicly offered regulated investment company,” as defined in the Code, certain investors will be taxed as though they received a distribution of some of our expenses.
  • We may have difficulty paying our required distributions if we recognize income before or without receiving cash representing such income.
  • The requirement that we, as a BDC, invest a sufficient portion of our assets in qualifying assets could preclude us from investing in accordance with our current business strategy; conversely, any failure on our part to invest a sufficient portion of our assets in qualifying assets could cause us to lose our status as a BDC.
  • Failure to maintain our status as a BDC would reduce our operating flexibility.
  • The Small Business Credit Availability Act allows us to incur additional leverage and would require us to offer liquidity to our stockholders.
  • Efforts to comply with the Sarbanes-Oxley Act involve significant expenditures.
  • We are obligated to maintain proper and effective internal controls over financial reporting in accordance with Section 404 of the Sarbanes-Oxley Act, and failure to achieve and maintain effective internal controls over financial reporting in accordance with Section 404 of the Sarbanes-Oxley Act could have a material adverse effect on our business and the value of the Shares.
  • Our Board of Directors may change our investment objective, operating policies and strategies without prior notice or stockholder approval.
  • A stockholder’s interest in us could be diluted if we issue additional Shares, which could reduce the overall value of an investment in us.
  • Provisions of the General Corporation Law of the State of Delaware and our certificate of incorporation and bylaws could deter takeover attempts and have an adverse effect on the price of our Common Stock.
  • Our Adviser is able to resign upon 60 days’ notice, and we may not be able to find a suitable replacement within that time, resulting in a disruption in our operations that could adversely affect our financial condition, business and results of operations.
  • Our Administrator is able to resign from its role as Administrator under the Administration Agreement, and a suitable replacement may not be found, resulting in disruptions that could adversely affect our business, results of operations and financial condition.
  • The net asset value of the Shares may fluctuate significantly.
  • Legislation passed in 2018 allows us to incur additional leverage and would require us to offer liquidity to our stockholders.
  • General Risk Factors
  • Global capital markets could enter a period of severe disruption and instability due to future recessions, political instability, geopolitical turmoil and foreign hostilities, disease pandemics and other serious health events. These market disruptions have historically had and could again have a materially adverse effect on debt and equity capital markets in the United States, which could have a materially adverse impact on our business and financial condition.
  • We may experience fluctuations in our quarterly results.
  • We are subject to risks related to corporate social responsibility.
  • Changes in laws or regulations governing our operations may adversely affect our business or cause us to alter our business strategy.
  • Stockholders may be subject to filing requirements under the Exchange Act as a result of an investment in us.
  • Stockholders may be subject to the short-swing profits rules under the Exchange Act as a result of an investment in us.
  • We, our Adviser or its affiliates may be subject to litigation or regulatory proceedings the results of which could have a material adverse effect on our financial condition or results of operations.

Legal proceedings

Neither we nor our Adviser or Administrator is currently subject to any material legal proceedings, nor, to our knowledge, is any material legal proceeding threatened against us, or against our Adviser or Administrator.

From time to time, we, our Adviser or Administrator may be a party to certain legal proceedings in the ordinary course of business, including proceedings relating to the enforcement of our rights under contracts with our portfolio companies. While the outcome of these legal proceedings cannot be predicted with certainty, we do not expect that these proceedings will have a material effect upon our financial condition or results of operations.

From time to time we are involved in various legal proceedings, lawsuits and claims incidental to the conduct of our business. Our businesses are also subject to extensive regulation, which may result in regulatory proceedings against us.

The opening of Item 3, Legal Proceedings.10

Sources

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    SEC EDGAROther events
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