On July 11, 2023, the Fund issued a press release entitled “Vertical Capital Income Fund Announces Sale of Majority of Investment Portfolio in Advance of Expected New Investment Advisory Agreement with Carlyle.” In this press release, the Fund announced that it had sold a significant majority of its investment portfolio for “aggregate proceeds lower than the book value of the combined assets due to the significant sale needed to facilitate the [t]ransaction” and, as a result, adjusted its net asset value from $9.96 per share (as of June 30, 2023) to $8.27 per share as of July 11, 2023.

On this news, the Fund’s stock price fell $1.45 per share, or 14%, to close at $8.45 per share on July 11, 2023.