Golub Capital BDC, Inc. entered into a definitive agreement to merge with Golub Capital Investment Corporation with GBDC as the surviving company, subject to certain stockholder approvals and customary closing conditions. Following the merger, GBDC is expected to be the fourth-largest externally managed, publicly traded business development company by assets, with $3.5 billion of assets at fair value and investments in 203 portfolio companies as of September 30, 2018. The Boards of Directors of both GBDC and GCIC have approved the transaction with the participation throughout by, and the unanimous support of, their respective independent directors. Under the terms of the proposed merger, stockholders of GCIC will receive 0.865 shares of GBDC for each share of GCIC, subject to adjustment only in the event of a reclassification, recapitalization or similar transaction by either company.