Sierra Income Corporation
SIRR
Other OTC5.01
USD
- -
- -
CIK
0001523526
ISIN
US82632T1007
CUSIP
82632T100
Return %
Stock
S&P500
1Y
- -
26.84
3Y
- -
77.03
5Y
- -
80.55
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Seth Taube CFA
- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- 280 Park Avenue New York City NY United States of America 10017
- IPO Date
- Dec 3, 2021
- CIK
- 0001523526
- Website
- sierraincomecorp.com
- Similar Companies
- Business
- Sierra Income Corporation (SIRR) operates as a non-diversified closed-end management investment company regulated as a business development company. The company generates current income and, to a lesser extent, long-term capital appreciation by primarily lending to and investing in debt of privately owned U.S. middle-market companies with annual revenues between $50 million and $1 billion across a broad range of industries including automotive, insurance, real estate, construction, energy, and retail; it focuses on first lien senior secured debt, second lien secured debt, and subordinated debt, with occasional equity investments. Founded in 2012 and externally managed by SIC Advisors LLC, Sierra Income Corporation is headquartered at 280 Park Avenue, 6th East Floor, New York, New York, and maintains subsidiaries including Alpine Funding LLC and STRF Holdings LLC. In February 2022, Sierra Income Corporation completed a merger with Barings BDC, Inc. (NYSE: BBDC), under which Sierra shareholders received 0.44973 shares of Barings BDC common stock plus approximately $0.978 in cash per Sierra share, resulting in former Sierra stockholders owning 41.3% of the combined entity with over $2.7 billion in pro forma assets under management. The transaction included a $100 million credit support agreement from Barings LLC to cover potential losses on Sierra's acquired portfolio over 10 years, an increase in the incentive fee hurdle rate to 8.25%, and a $30 million Barings BDC share repurchase program for shares trading below 90% of net asset value. Post-merger, Sierra's independent directors Valerie Lancaster-Beal and Stephen R. Byers joined the Barings BDC board.