• Bulldog Investors urged Investcorp to buy all public ICMB shares for $5.04, citing destruction of shareholder value under its management since 2019.
• ICMB shares trade near $1.4, down from a $10.51 NAV cited at Investcorp’s 2019 manager appointment solicitation; dividends have stopped.
• Bulldog estimated Investcorp and affiliates collected about $43.5 million in fees, citing excessive leverage as a key driver.
• Investcorp affiliate refinancing of ICMB’s maturing 4.875% notes drew criticism, with more than $1 million in fees tied to a new loan above 9%.
• A board special committee formed March 31, 2026 hired Houlihan Lokey to review strategic alternatives as pressure on the manager escalated.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Investcorp Credit Management BDC Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202605262011PRIMZONEFULLFEED9727034) on May 27, 2026, and is solely responsible for the information contained therein.