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      <div style="text-align: center; font-size: 11pt; font-weight: bold;">UNITED STATES</div>
      <div style="text-align: center; font-size: 11pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
      <div style="text-align: center; font-weight: bold; font-size: 11pt;">Washington, DC 20549</div>
      <div style="font-size: 11pt;">&#160;</div>
      <div style="text-align: center; font-size: 11pt;">&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;</div>
      <div style="font-size: 11pt;">&#160;</div>
      <div style="text-align: center; font-size: 11pt; font-weight: bold;">FORM&#160;8-K</div>
      <div style="font-size: 11pt;">&#160;</div>
      <div style="text-align: center; font-size: 11pt; font-weight: bold;">CURRENT REPORT</div>
      <div style="text-align: center; font-size: 11pt; font-weight: bold; text-transform: uppercase;">Pursuant to Section&#160;13 or 15(<font style="text-transform: lowercase;">d</font>)&#160;of the Securities Exchange Act of 1934</div>
      <div style="font-size: 11pt;">&#160;</div>
      <div style="text-align: center; font-size: 11pt;"><font style="font-weight: bold;">Date of report (Date of earliest event reported):</font><font style="font-weight: bold;"><font style="font-weight: bold;"> </font>December 23, 2020 (</font><font style="font-weight: bold;"><font style="font-weight: bold;">December 23, 2020</font>)</font></div>
      <div style="font-size: 11pt;">&#160;</div>
      <div style="text-align: center; font-size: 11pt;">&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;</div>
      <div style="font-size: 11pt;">&#160;</div>
      <div style="text-align: center; font-size: 11pt; font-weight: bold;">AG Twin Brook BDC,&#160;Inc.</div>
      <div style="text-align: center; font-size: 11pt;">(Exact name of Registrant as Specified in Its Charter)</div>
      <div style="font-size: 11pt;">&#160;</div>
      <div style="text-align: center; font-size: 11pt;">&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;</div>
      <div style="font-size: 11pt;">&#160;</div>
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              <div style="text-align: center; font-weight: bold; font-size: 11pt;">DELAWARE
                <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;"></div>
            </td>
            <td style="width: 2%; vertical-align: bottom;">
              <div style="font-size: 11pt;">&#160;</div>
            </td>
            <td style="width: 32%; vertical-align: top;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; font-size: 11pt;"><font style="background-color: #FFFFFF;">814-01259</font>
                <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;"></div>
            </td>
            <td style="width: 2%; vertical-align: bottom;">
              <div style="font-size: 11pt;">&#160;</div>
            </td>
            <td style="width: 32%; vertical-align: top;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; font-size: 11pt;"><font style="background-color: #FFFFFF;">83-4184014</font>
                <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;"></div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 32.01%; vertical-align: top;">
              <div style="text-align: center; font-size: 11pt;">(State or Other Jurisdiction<br>
                of Incorporation)</div>
            </td>
            <td style="width: 2%; vertical-align: bottom;">
              <div style="font-size: 11pt;">&#160;</div>
            </td>
            <td style="width: 32%; vertical-align: top;">
              <div style="text-align: center; font-size: 11pt;">(Commission<br>
                File Number)</div>
            </td>
            <td style="width: 2%; vertical-align: bottom;">
              <div style="font-size: 11pt;">&#160;</div>
            </td>
            <td style="width: 32%; vertical-align: top;">
              <div style="text-align: center; font-size: 11pt;">(IRS Employer<br>
                Identification No.)</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: top;">&#160;</td>
          </tr>

      </table>
      <div style="font-size: 11pt;">&#160;</div>
      <div style="font-size: 11pt;">
        <div style="text-align: center; font-weight: bold;"> <br>
        </div>
        <div style="text-align: center; font-weight: bold;">245 Park Avenue, 26<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> Floor</div>
        <div style="text-align: center; font-weight: bold;">New York, NY 10167</div>
        <div style="text-align: center; font-weight: bold;"><font style="font-weight: normal;">(Address of Principal Executive Offices, Zip Code)</font></div>
      </div>
    </div>
    <div>&#160;
      <div style="text-align: center;"> <br>
        <font style="font-weight: bold; font-size: 11pt;">(212) 692-2000</font><font style="font-size: 11pt;"> </font></div>
      <font style="font-size: 11pt;"> </font>
      <div style="text-align: center; font-size: 11pt;">(Registrant&#8217;s telephone number, including area code)<font style="font-weight: bold;">&#160; <br>
        </font></div>
      <font style="font-size: 11pt;"> </font>
      <div style="font-size: 11pt;">&#160;</div>
      <font style="font-size: 11pt;"> </font>
      <div style="font-size: 11pt; font-weight: bold; text-align: center;">&#160;N/A</div>
      <font style="font-size: 11pt;"> </font>
      <div style="text-align: center; font-size: 11pt;">(Former Name or Former Address, if Changed Since Last Report)</div>
      <div style="text-align: center; font-size: 11pt;"> <br>
      </div>
      <div style="font-size: 11pt;">&#160;</div>
      <font style="font-size: 11pt;"> </font>
      <div style="font-size: 11pt;">Check the appropriate box below if the Form&#160;8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</div>
      <font style="font-size: 11pt;"> </font>
      <div style="font-size: 11pt;">&#160;</div>
      <font style="font-size: 11pt;"> </font>
      <div style="font-size: 11pt;">&#9744;&#160;&#160;&#160;&#160;&#160; Written communications pursuant to Rule&#160;425 under the Securities Act (17 CFR 230.425)</div>
      <font style="font-size: 11pt;"> </font>
      <div style="font-size: 11pt;">&#160;</div>
      <font style="font-size: 11pt;"> </font>
      <div style="font-size: 11pt;">&#9744;&#160;&#160;&#160; &#160; Soliciting material pursuant to Rule&#160;14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
      <font style="font-size: 11pt;"> </font>
      <div style="font-size: 11pt;">&#160;</div>
      <font style="font-size: 11pt;"> </font>
      <div style="font-size: 11pt;">&#9744;&#160;&#160; &#160;&#160; Pre-commencement communications pursuant to Rule&#160;14d-2(b)&#160;under the Exchange Act (17 CFR 240.14d-2(b))</div>
      <font style="font-size: 11pt;"> </font>
      <div style="font-size: 11pt;">&#160;</div>
      <font style="font-size: 11pt;"> </font>
      <div style="font-size: 11pt;">&#9744;&#160;&#160;&#160;&#160;&#160; Pre-commencement communications pursuant to Rule&#160;13e-4(c)&#160;under the Exchange Act (17 CFR 240.13e-4(c))</div>
      <div style="font-size: 11pt;"> <br>
      </div>
      <div style="font-size: 11pt;">
        <div>Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR &#167;230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR&#160;&#167;240.12b-2). Emerging growth
          company &#9746;</div>
        <div><br>
        </div>
        <div>If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section&#160;13(a) of the
          Exchange Act. &#9744;</div>
      </div>
      <font style="font-size: 11pt;"></font>
      <div style="margin-top: 10pt; font-size: 11pt;">Securities registered pursuant to Section&#160;12(b) of the Act:</div>
      <font style="font-size: 11pt;"> </font>
      <div style="font-size: 11pt;">&#160;</div>
      <font style="font-size: 11pt;"> </font>
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            <td style="width: 34%; vertical-align: bottom;">
              <div style="text-align: center; font-size: 11pt; font-weight: bold;">Title&#160;of&#160;each&#160;class
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            </td>
            <td style="width: 1%; vertical-align: bottom;">
              <div style="font-size: 11pt;">&#160;</div>
            </td>
            <td style="width: 32%; vertical-align: bottom;">
              <div style="text-align: center; font-size: 11pt; font-weight: bold;">Trading Symbol(s)
                <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;"></div>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
              <div style="font-size: 11pt;">&#160;</div>
            </td>
            <td style="width: 32%; vertical-align: bottom;">
              <div style="text-align: center; font-size: 11pt; font-weight: bold;">Name&#160;of&#160;each&#160;exchange on&#160;which&#160;</div>
              <div style="text-align: center; font-size: 11pt; font-weight: bold;">registered
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            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 34%; vertical-align: top;">
              <div style="text-align: center; font-weight: bold; font-size: 11pt;">N/A</div>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
              <div style="font-size: 11pt;">&#160;</div>
            </td>
            <td style="width: 32%; vertical-align: top;">
              <div style="text-align: center; font-weight: bold; font-size: 11pt;">N/A</div>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
              <div style="font-size: 11pt;">&#160;</div>
            </td>
            <td style="width: 32%; vertical-align: top;">
              <div style="text-align: center; font-weight: bold; font-size: 11pt;">N/A</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: top;">&#160;</td>
          </tr>

      </table>
      <font style="font-size: 11pt;"><br>
        <br>
      </font>
      <div style="margin-top: 10pt;">
        <hr align="center" style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;"><font style="font-size: 11pt;"> </font> </div>
      <font style="font-size: 11pt;"> </font>
      <div style="margin-top: 10pt;"> <font style="font-size: 11pt;"><br>
        </font> </div>
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      <div><font style="font-size: 11pt;"> </font>
        <div style="font-family: 'Times New Roman', serif;"><font style="font-size: 11pt; font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;"></font></div>
        <div style="font-size: 11pt; font-weight: bold;"><br>
        </div>
        <div style="font-size: 11pt; font-weight: bold;">Item 3.02<font style="width: 9pt; display: inline-block;" class="HorizontalTab"> </font>Unregistered Sales of Equity Securities.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-top: 12pt; margin-bottom: 12pt; font-size: 11pt;">On <font style="color: rgb(0, 0, 0);">December 9,</font> 2020, AG Twin Brook BDC, Inc. (the &#8220;Company&#8221;) delivered a capital drawdown notice
          to its investors due on <font style="color: rgb(0, 0, 0);">December 23, 2020</font> relating to the sale of <font style="color: rgb(0, 0, 0);">540,000</font> shares of the Company&#8217;s common stock, par value $0.001 per share (the &#8220;Common Stock&#8221;)
          for an aggregate offering price of $<font style="color: rgb(0, 0, 0);">10,800,000</font>. The sale closed on <font style="color: rgb(0, 0, 0);">December 23, 2020</font>.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-top: 12pt; margin-bottom: 12pt; font-size: 11pt;">The sale of Common Stock was made pursuant to subscription agreements entered into by the Company and its investors. Under the terms of the
          subscription agreements, investors are required to fund drawdowns to purchase shares of Common Stock up to the amount of their respective capital commitments on an as-needed basis with a minimum of 10 days&#8217; prior notice to the funding date.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-top: 12pt; margin-bottom: 12pt; font-size: 11pt;">The sale of the Common Stock is exempt from the registration requirements of the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;),
          pursuant to Section 4(a)(2) thereof and Regulation D thereunder. The Company has not engaged in general solicitation or advertising with regard to the issuance and sale of the Common Stock and has not offered securities to the public in
          connection with such issuance and sale. The Company relied, in part, upon representations from the investors in the subscription agreements that each investor was an accredited investor as defined in Regulation D under the Securities Act.</div>
        <div style="font-family: 'Times New Roman',Times,serif;"><font style="font-size: 11pt; font-weight: bold;">Item 7.01<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
            </font>Regulation FD Disclosure.</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-top: 12pt; margin-bottom: 12pt; font-size: 11pt;">On <font style="color: rgb(0, 0, 0);">December 23</font>, 2020, the Company issued a letter to its stockholders to provide an update on
          its business in light of the continued economic uncertainties in the United States and globally arising from the COVID-19 pandemic.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-top: 12pt; margin-bottom: 12pt; font-size: 11pt;">The information set forth in this Item 7.01 and in the attached Exhibit 99.1 is deemed to be &#8220;furnished&#8221; and shall not be deemed &#8220;filed&#8221;
          for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), or otherwise subject to the liabilities of that Section. The information contained in Item 7.01 of this Current Report on Form 8-K shall not be
          incorporated by reference into any registration statement or other document or filing under the Securities Act or the Exchange Act, as amended, except as shall be expressly set forth by specific reference in such filing. Item 7.01 of this Current
          Report on Form 8-K shall not be deemed an admission as to the materiality of any information in this report that is provided in connection with Regulation FD.</div>
        <div style="font-family: 'Times New Roman',Times,serif;"><font style="font-weight: bold; font-size: 11pt;">Item 9.01.<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
            </font></font><font style="font-weight: bold; font-size: 11pt;">Financial Statements and </font><font style="font-weight: bold; font-size: 11pt;">Exhibits.</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-top: 12pt; margin-bottom: 12pt; font-size: 11pt;"> </div>
        <div style="font-size: 11pt; margin-left: 45pt;">&#160;&#160; (d)&#160; Exhibits.</div>
        <div style="font-family: 'Times New Roman',Times,serif;"> <font style="font-family: 'Times New Roman'; font-size: 11pt;"><br>
          </font></div>
        <div style="font-size: 11pt; margin-left: 72pt;">99.1&#160;Letter to Stockholders</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="page-break-after: always;" id="DSPFPageBreak">
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        </div>
        <div><font style="font-size: 11pt;"> </font>
          <div style="text-align: center; font-weight: bold; font-size: 11pt;">SIGNATURE</div>
          <font style="font-size: 11pt;"> </font>
          <div style="font-size: 11pt;">&#160;</div>
          <font style="font-size: 11pt;"> </font>
          <div style="font-size: 11pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, AG Twin Brook BDC,&#160;Inc. has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</div>
          <font style="font-size: 11pt;"> </font>
          <div style="font-size: 11pt;"> <br>
          </div>
          <font style="font-size: 11pt;"> </font>
          <div style="font-size: 11pt;"> <br>
          </div>
          <font style="font-size: 11pt;"> </font>
          <div style="float: left; width: 48%;" id="EFPFTCL">
            <div style="font-size: 11pt;">&#160;</div>
          </div>
          <font style="font-size: 11pt;"> </font>
          <div style="float: right; width: 48%;" id="EFPFTCR">
            <div><font style="font-size: 11pt; font-weight: bold;">AG TWIN BROOK BDC, INC.</font><font style="font-size: 11pt;"> <br>
              </font> </div>
          </div>
          <font style="font-size: 11pt;"> </font>
          <div style="clear: both;"><font style="font-size: 11pt;"><br>
            </font> </div>
          <font style="font-size: 11pt;"> </font>
          <div style="float: left; width: 48%;" id="EFPFTCL">
            <div><font style="font-size: 11pt;">Date: December 23, 2020</font><font style="font-size: 11pt;"> <br>
              </font> </div>
          </div>
          <font style="font-size: 11pt;"> </font>
          <div style="float: right; width: 48%;" id="EFPFTCR">
            <div><font style="font-size: 11pt;">By: <u>/s/ Vishal Sheth</u></font> </div>
            <div><font style="font-size: 11pt;">Name: Vishal Sheth</font> </div>
            <div> <font style="font-size: 11pt;">Title: Chief Financial Officer and Treasurer</font></div>
          </div>
          <font style="font-size: 11pt;"> </font>
          <div style="clear: both;"><font style="font-size: 11pt;"><br>
            </font> </div>
          <font style="font-size: 11pt;"> </font>
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            </font> </div>
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            </font> </div>
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          <font style="font-size: 11pt;"> </font>
          <div style="text-align: center; font-size: 11pt;">&#160;</div>
          <font style="font-size: 11pt;"> </font>
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{"company-data": {"conformed-name": "AG Twin Brook BDC, Inc.", "cik": "0001666384", "irs-number": "000000000", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "814-01259", "film-number": "201412440"}, "business-address": {"street1": "1209 ORANGE STREET", "city": "WILMINGTON", "state": "DE", "zip": "19801", "phone": "212.692.2000"}, "mail-address": {"street1": "1209 ORANGE STREET", "city": "WILMINGTON", "state": "DE", "zip": "19801"}, "former-company": {"former-conformed-name": "1889 BDC, Inc", "date-changed": "20160209"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
——————————
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(
d
) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
December 23, 2020 (
December 23, 2020
)
——————————
AG Twin Brook BDC, Inc.
(Exact name of Registrant as Specified in Its Charter)
——————————
DELAWARE
814-01259
83-4184014
(State or Other Jurisdiction
of Incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
245 Park Avenue, 26
th
Floor
New York, NY 10167
(Address of Principal Executive Offices, Zip Code)
(212) 692-2000
(Registrant's telephone number, including area code)
N/A
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐      Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐      Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐      Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth
          company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the
          Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which
registered
N/A
N/A
N/A
Item 3.02
Unregistered Sales of Equity Securities.
On
December 9,
2020, AG Twin Brook BDC, Inc. (the "Company") delivered a capital drawdown notice
          to its investors due on
December 23, 2020
relating to the sale of
540,000
shares of the Company's common stock, par value $0.001 per share (the "Common Stock")
          for an aggregate offering price of $
10,800,000
. The sale closed on
December 23, 2020
.
The sale of Common Stock was made pursuant to subscription agreements entered into by the Company and its investors. Under the terms of the
          subscription agreements, investors are required to fund drawdowns to purchase shares of Common Stock up to the amount of their respective capital commitments on an as-needed basis with a minimum of 10 days' prior notice to the funding date.
The sale of the Common Stock is 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 thereunder. The Company has not engaged in general solicitation or advertising with regard to the issuance and sale of the Common Stock and has not offered securities to the public in
          connection with such issuance and sale. The Company relied, in part, upon representations from the investors in the subscription agreements that each investor was an accredited investor as defined in Regulation D under the Securities Act.
Item 7.01
Regulation FD Disclosure.
On
December 23
, 2020, the Company issued a letter to its stockholders to provide an update on
          its business in light of the continued economic uncertainties in the United States and globally arising from the COVID-19 pandemic.
The information set forth in this Item 7.01 and in the attached Exhibit 99.1 is deemed to be "furnished" and shall not be deemed "filed"
          for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section. The information contained in Item 7.01 of this Current Report on Form 8-K shall not be
          incorporated by reference into any registration statement or other document or filing under the Securities Act or the Exchange Act, as amended, except as shall be expressly set forth by specific reference in such filing. Item 7.01 of this Current
          Report on Form 8-K shall not be deemed an admission as to the materiality of any information in this report that is provided in connection with Regulation FD.
Item 9.01.
Financial Statements and
Exhibits.
(d)  Exhibits.
99.1 Letter to Stockholders
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, AG Twin Brook BDC, Inc. has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
AG TWIN BROOK BDC, INC.
Date: December 23, 2020
By:
/s/ Vishal Sheth
Name: Vishal Sheth
Title: Chief Financial Officer and Treasurer