Palmer Square Capital BDC (PSBD) Prices 5.45M Share IPO at $16.45/sh

Palmer Square Capital BDC Inc. (NYSE: PSBD), an externally managed business development company, today announced that it priced its initial public offering of 5,450,000 shares of its common stock at $16.45 per share, for anticipated gross proceeds of approximately $89.7 million. Palmer Square's shares of common stock are expected to begin trading on the New York Stock Exchange on January 18, 2024 under the symbol "PSBD." Palmer Square also granted the underwriters an option to purchase up to an additional 817,500 shares of its common stock to cover over-allotments, if any. The closing of the offering is subject to customary closing conditions and the shares are expected to be delivered on or about January 22, 2024.

Palmer Square intends to use the net proceeds from this offering to make investments in accordance with its investment objectives and strategies.

J.P. Morgan, BofA Securities, RBC Capital Markets, UBS Investment Bank and Citigroup are acting as joint book-running managers for this offering, and Janney Montgomery Scott, Oppenheimer & Co. and Clear Street are acting as co-managers for this offering.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission (the "SEC") and declared effective. This press release will not constitute an offer to sell or the solicitation of an offer to buy the securities described above nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to their registration or qualification under the securities laws of any such state or jurisdiction.

The offering of these securities will be made only by means of a prospectus forming a part of the registration statement. Copies of the preliminary prospectus relating to this offering may be obtained, when available, from: J.P. Morgan, 383 Madison Avenue, New York, NY 10179, BofA Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attn: Prospectus Department Email: [email protected], RBC Capital Markets, 200 Vesey Street, 8th Floor, New York, NY 10281, Attn: Prospectus Department by telephone at 877-822-4089 or by email at [email protected], UBS Investment Bank, 1285 Avenue of the Americas, New York, NY 10019 or Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at 1-800-831-9146.

Investors are advised to carefully consider the investment objectives, risks and charges and expenses of Palmer Square before investing. The preliminary prospectus dated January 11, 2024 contains this and other information about Palmer Square and should be read carefully before investing. The information in the preliminary prospectus is not complete and may be changed.

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