We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Sierra Income Corporation (“Sierra” or the “Company”) in connection with the proposed acquisition of the Company by Barings BDC, Inc. (“Barings”) (NYSE: BBDC). Under the terms of the merger agreement, Sierra shareholders will receive $.98 in cash and 0.44973 shares of Barings stock or each Sierra share they hold, representing implied per-share merger consideration of approximately $5.91 based upon Barings’s September 22, 2021 closing price of $10.96.
WeissLawLLP is investigating whether: (i) Sierra’s board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the per-share merger consideration adequately compensates Sierra’s shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.