{"url_path":"/sec/cik-0001948368/10-q/2026/item-2","section_key":"item-2","section_title":"Item 2 UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-12","source_url":"https://www.sec.gov/Archives/edgar/data/1948368/0001193125-26-219873-index.html","accession_number":"0001193125-26-219873","cik":"0001948368","ticker":null,"issuer_name":"Phillip Street BDC LLC","edgar_url":"https://www.sec.gov/Archives/edgar/data/1948368/0001193125-26-219873-index.html","primary_entity_key":"0001948368","primary_entity_name":"Phillip Street BDC LLC"},"word_count":191,"has_tables":true,"body_markdown":"ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.\n\nThe following table summarizes the total Units issued and proceeds related to capital drawdowns:\n\n \n\nUnit Issue Date\n\n \n\nUnits Issued\n\n \n\n \n\nProceeds Received\n($ in millions)\n\n \n\nFor the Three Months Ended March 31, 2026\n\n \n\n \n\n \n\n \n\n \n\n \n\nJanuary 16, 2026\n\n \n\n \n\n2,647,756\n\n \n\n \n\n$\n\n52.50\n\n \n\nTotal capital drawdowns\n\n \n\n \n\n2,647,756\n\n \n\n \n\n$\n\n52.50\n\n \n\nThe above issuance and sale of the Common Units was exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), pursuant to Section 4(a)(2) thereof, and Regulation D or Regulation S thereunder, as applicable. Each purchaser of Common Units was required to represent that it is (i) either an “accredited investor” as defined in Rule 501 of Regulation D under the Securities Act or, in the case of the Common Units sold outside the United States, not a “U.S. person” in accordance with Regulation S under the Securities Act and (ii) acquiring the Common Units for investment and not with a view to resell or distribute. We did not engage in general solicitation or advertising and did not offer securities to the public in connection with such issuance and sale."}