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EFFECT ·Filed Jun 18, 2026

NCDL

Nuveen Churchill Direct Lending Corp.
NEUTRAL
Impact 4/10
Horizonweeks Processed4mo ago SEC9999999995-26-002035
IPO/offering going effective
Actionable Insight • Neutral

Monitor for any subsequent POS AM or prospectus supplement (424B) filings that would signal an actual offering. BDC shelf registrations are commonly used for periodic follow-on offerings to raise capital for new investments.

DirectionNeutral
Confidencemedium
Horizonweeks
Final — all horizons settled through T+60d
NCDL ▼ -0.08% at T+60d
NEUTRAL call -0.08% · α vs SPY -1.98% · entry $12.23 → $12.22
Entry = T+0 close
Jun 18, 2026
via day close
T+1d
-1.23%
call -1.23% · α -0.91%
$12.08
settled 4mo ago
T+5d
+1.64%
call +1.64% · α +3.30%
$12.43
settled 4mo ago
T+20d
+6.21%
call +6.21% · α +5.68%
$12.99
settled 3mo ago
T+60d
-0.08%
call -0.08% · α -1.98%
$12.22
settled 6w ago

Price Chart

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Executive Summary

Nuveen Churchill Direct Lending Corp.'s shelf registration (File No. 333-283950) became effective on June 17, 2026, under the 1933 Act. This is a routine shelf effectiveness for a BDC — no immediate offering is priced, but the company now has the ability to issue securities at any time, creating potential dilution overhang.

Key Facts

  • Shelf registration (File No. 333-283950) declared effective on 2026-06-17
  • Company is a Business Development Company (BDC) with $605M market cap
  • No specific offering size or pricing details disclosed in the EFFECT filing
  • Formerly known as Nuveen Churchill BDC Inc. (name change 2019-12-30) and Nuveen Churchill BDC LLC (name change 2018-04-18)

Financial Impact

Shelf registration effective — no immediate offering; potential for future at-the-market or follow-on issuance up to undisclosed amount

dilutionequity_capital

Risk Factors

  • Future equity issuance could dilute existing shareholders if priced at a discount to NAV
  • BDC sector may face rate sensitivity and credit risk headwinds

Market Snapshot

Exchange
NYSE
Analyst Consensus
67% bullish (12 analysts)

Documents Analyzed

This report is based on 3 SEC documents filed with EDGAR.

DocumentAccession Number
EFFECT Filing (Primary)9999999995-26-002035
Document: 9999999995-26-002035-index.html9999999995-26-002035
Document: 9999999995-26-002035.txt9999999995-26-002035
9 reports for NCDL
Performance horizon
75% Hit rate @ T+60 3 of 4 directional calls Went positive at some point 4 of 6 best @ T+60▲ +11.06%May 7, 2026
Filters
Rows
Reports for NCDL — sortable, filterable
TypeNow
Sep 15, 2026
5w ago
Insider Buy
BULLISH ★ 4/10
$12.15awaiting T+60—$10.81 (−11.03%)
Aug 6, 2026
11w ago
8-K
BEARISH ★ 6/10
$12.53awaiting T+60—$10.81 (+13.73%)
Jun 18, 2026
18w ago
EFFECT
NEUTRAL ★ 4/10
$12.23 $12.22▼ −0.08%▼ −1.98%$10.81 (−11.61%)
May 15, 2026
23w ago
Insider Cluster
BULLISH ★ 5/10
$13.28 $12.54▼ −5.57%▼ −10.09%$10.81 (−18.60%)
May 7, 2026
24w ago
8-K
BEARISH ★ 6/10
$14.01 $12.46▲ +11.06%▲ +14.90%$10.81 (+22.84%)
Apr 9, 2026
28w ago
DEFA14A
NEUTRAL ★ 2/10
$13.44 $12.61▼ −6.18%▼ −16.96%$10.81 (−19.57%)
Apr 7, 2026
28w ago
DEFA14A
NEUTRAL ★ 3/10
$13.35 $12.68▼ −5.02%▼ −15.48%$10.81 (−19.03%)
Mar 3, 2026
34w ago
Insider Cluster
BULLISH ★ 7/10
$12.60 $12.91▲ +2.49%▼ −7.83%$10.81 (−14.19%)
Mar 3, 2026
34w ago
Insider Cluster
BULLISH ★ 5/10
$12.60 $12.91▲ +2.49%▼ −7.83%$10.81 (−14.19%)
Showing 9 of 9

US Market Status

Market Closed — Opens Wed (17h 24m)

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Report published Jun 18, 2026