Audax Credit BDC Inc. is an externally managed, non-diversified closed-end investment company that has elected to be regulated as a business development company and taxed as a RIC. It seeks current income and, to a lesser extent, long-term capital appreciation, investing primarily in first lien senior secured loans and selectively in unitranche and second lien loans to privately owned U.S. middle-market companies. At 12/31/2025 the portfolio had a fair value of $407.5 million across 268 portfolio companies and 26 industries. [Form 10-K FY2025, Item 1; as of 2025-12-31]