adjustments to the purchase price included , among other things , approximately $ 208.8 million of principal payments and prepayments , sales proceeds and distributions related to the investment portfolio that were received and retained by us between december 31 , 2017 and the closing of the asset sale transaction , offset by approximately $ 29.5 million of loans and equity investments originated by us between december 31 , 2017 and the closing of the asset sale transaction . in connection with the closing of the asset sale transaction , we caused notices to be issued to the holders of our december 2022 notes and march 2022 notes ( each as defined in our consolidated financial statements for the fiscal year ended december 31 , 2019 and notes thereto ) regarding the redemption of all $ 80.5 million in aggregate principal amount of the december 2022 notes and all $ 86.3 million in aggregate principal amount of the march 2022 notes , in each case , on august 30 , 2018. the december 2022 notes and the march 2022 notes were redeemed at 100 % of their principal amount ( $ 25.00 per note ) , plus the accrued and unpaid interest thereon from june 15 , 2018 to , but excluding , august 30 , 2018. in furtherance of the redemption , on july 31 , 2018 , we irrevocably deposited with the bank of new york mellon trust company , n.a . , as trustee under the indenture and supplements thereto relating to the december 2022 notes and the march 2022 notes , funds in trust for the purposes of redeeming all of the issued and outstanding december 2022 notes and march 2022 notes and paying all sums due and payable under the indenture and supplements thereto . as a result , our obligations under the indenture and supplements thereto relating to the december 2022 notes and the march 2022 notes were satisfied and discharged as of july 31 , 71 2018 , except with respect to those obligations that the indenture expressly provides shall survive the satisfaction and discharge of the indenture . in addition , in connection with the closing of the asset sale transaction , we terminated our senior secured credit facility entered into in may 2015 ( and subsequently amended in may 2017 ) , or the may 2017 credit facility . our former wholly-owned subsidiaries , triangle mezzanine fund lllp , or triangle sbic , triangle mezzanine fund ii lp , or triangle sbic ii , and triangle mezzanine fund iii lp , or triangle sbic iii , were specialty finance limited partnerships that were formed to make investments primarily in lower middle-market companies located throughout the united states . each of triangle sbic , triangle sbic ii and triangle sbic iii held licenses to operate as small business investment companies , or sbics , under the authority of the united states small business administration , or sba . in connection with the closing of the asset sale transaction , we repaid all of our outstanding sba-guaranteed debentures and surrendered the sbic licenses held by triangle sbic , triangle sbic ii , and triangle sbic iii . the externalization transaction closed on august 2 , 2018. effective as of the externalization closing , we changed our name from triangle capital corporation to barings bdc , inc. and on august 3 , 2018 began trading on the new york stock exchange , or nyse , under the symbol `` bbdc . `` in connection with the closing of the externalization transaction , we entered into an investment advisory agreement , or the advisory agreement , and an administration agreement , or the administration agreement , with barings , pursuant to which barings serves as our investment adviser and administrator and manages our investment portfolio which initially consisted primarily of the cash proceeds received in connection with the asset sale transaction . on august 2 , 2018 , we issued 8,529,917 shares of our common stock to barings at a price of $ 11.723443 per share , or an aggregate of $ 100.0 million in cash . furthermore , on august 7 , 2018 , we launched a $ 50.0 million issuer tender offer , or the tender offer . pursuant to the tender offer , we purchased 4,901,961 shares of our common stock at a purchase price of $ 10.20 per share , for an aggregate cost of approximately $ 50.0 million , excluding fees and expenses relating to the tender offer . the shares of common stock purchased in the tender offer represented approximately 8.7 % of our issued and outstanding shares as of september 6 , 2018. on september 24 , 2018 , or the effective date , barings entered into a rule 10b5-1 purchase plan , or the 10b5-1 plan , that qualifies for the safe harbors provided by rules 10b5-1 and 10b-18 under the exchange act . pursuant to the 10b5-1 plan , an independent broker made purchases of shares of our common stock on the open market on behalf of barings in accordance with purchase guidelines specified in the 10b5-1 plan . the 10b5-1 plan was established in accordance with barings obligation under the externalization agreement to enter into a trading plan pursuant to which barings committed to purchase $ 50.0 million in value of shares in open market transactions through an independent broker . the maximum aggregate purchase price of all shares purchased under the 10b5-1 plan was $ 50.0 million . on february 11 , 2019 , barings fulfilled its obligations under the 10b5-1 plan to purchase an aggregate amount of $ 50.0 million in shares of our common stock and the 10b5-1 plan terminated in accordance with its terms . story_separator_special_tag interest and other financing fees during the year ended december 31 , 2019 were attributable to borrowings under the august 2018 credit facility , the february 2019 credit facility and the debt securitization ( each as defined below under `` liquidity and capital resources `` ) . interest and other financing fees during the year ended december 31 , 2018 were primarily attributed to borrowings under our sba-guaranteed debentures , the may 2017 credit facility and both the march 2022 notes and the december 2022 notes . in connection with the transactions , the sba-guaranteed debentures and the may 2017 credit facility were repaid and the march 2022 notes and the december 2022 notes were redeemed . the decrease in interest and other financing fees expense from the year ended december 31 , 2017 to the year ended december 31 , 2018 was primarily attributable to the repayment of our sba-guaranteed debentures , the repayment of our may 2017 credit facility and the redemption of both the march 2022 notes and the december 2022 notes , partially offset by interest and fees incurred related to borrowings under the august 2018 credit facility . base management fees under the advisory agreement , we pay barings a base management fee , or the base management fee , quarterly in arrears on a calendar quarter basis . the base management fee is calculated based on the average value of our gross assets , excluding cash and cash equivalents , at the end of the two most recently completed calendar quarters prior to the quarter for which such fees are being calculated . base management fees for any partial month or quarter are appropriately pro-rated . prior to the externalization transaction we were an internally-managed bdc and did not pay any base management fees . see note 2 to our consolidated financial statements for the year ended december 31 , 2019 for additional information regarding the advisory agreement and the fee arrangement thereunder . for the year ended december 31 , 2019 , the base management fee determined in accordance with the terms of the advisory agreement was approximately $ 12.1 million . for the year ended december 31 , 2018 , the base management fee determined in accordance with the terms of the advisory agreement was approximately $ 4.2 million . for the quarter ended september 30 , 2018 , the calculation of the base management fee under the terms of the advisory agreement was based on the average of our gross assets , excluding cash and cash equivalents , as of march 31 , 2018 and june 30 , 2018 , both of which were dates prior to the consummation of the transactions . for the quarter ended december 31 , 2018 , the calculation of the base management fee under the terms of the advisory agreement was based on the average of our gross assets , excluding cash and cash equivalents , as of june 30 , 2018 , which was prior to the transactions , and september 30 , 2018. in light of this fact , and in order to ensure that barings did not earn a base management fee on assets that it did not manage prior to the transactions , barings calculated the base management fee for the quarter ended september 30 , 2018 based on our average gross assets as of august 2 , 2018 and september 30 , 2018 , excluding ( i ) cash and cash equivalents , ( ii ) short-term investments , ( iii ) unsettled purchased investments and ( iv ) assets subject to participation agreements ( the “ q3 2018 adjusted management fee ” ) . for the quarter ended december 31 , 2018 , barings calculated the base management fee based on our average gross assets as of september 30 , 2018 and 78 december 31 , 2018 , excluding ( i ) cash and cash equivalents , ( ii ) short-term investments , ( iii ) unsettled purchased investments and ( iv ) assets subject to participation agreements ( the “ q4 2018 adjusted management fee , ” and together with the q3 2018 adjusted management fee , ” the “ fy 2018 adjusted management fee ” ) . barings voluntary agreed to waive the difference between the $ 4.2 million base management fee calculated under the terms of the advisory agreement and the fy 2018 adjusted management fee , which resulted in a net base management fee of approximately $ 2.7 million for the year ended december 31 , 2018 after taking into account a waiver of approximately $ 1.5 million based on the calculations noted above . compensation expenses prior to the transactions , compensation expenses were primarily influenced by headcount and levels of business activity . our compensation expenses included salaries , discretionary compensation , equity-based compensation and benefits . discretionary compensation was significantly impacted by our level of total investment income , our investment results , including investment realizations , prevailing labor markets and the external environment . in connection with the transactions , all but two employees were terminated . the compensation expenses for the year ended december 31 , 2019 related to salaries , benefits and discretionary compensation of these remaining employees . compensation expenses for the year ended december 31 , 2018 related predominantly to the transactions , and the subsequent change of control and related termination of our employees . in the year ended december 31 , 2018 , we recognized approximately $ 27.6 million in one-time compensation expenses associated with the transactions which included severance expenses , pro-rata incentive compensation , transaction-related bonuses , expenses related to the acceleration of vesting of restricted stock grants and deferred compensation grants , and other expenses associated with the obligations under our existing severance agreements and severance policy . general and administrative expenses on august 2 , 2018 , we entered into the administration agreement with barings . under the terms of the

cash flows for the year ended december 31 , 2019 , we experienced a net increase in cash in the amount of $ 9.6 million . during that period , our operating activities used $ 31.5 million in cash , consisting primarily of purchases of portfolio investments of $ 473.7 million and purchases of short-term investments of $ 913.6 million , partially offset by proceeds from sales of investments totaling $ 449.9 million and proceeds from the sales of short-term investments of $ 862.3 million . in addition , financing activities provided net cash of $ 41.1 million , consisting primarily of net proceeds from our $ 449.3 million term debt securitization , or the debt securitization , of $ 348.3 million , partially offset by net repayments under the august 2018 credit facility and the february 2019 credit facility of $ 218.6 million , repayments of the debt securitization of $ 30.0 million , purchases of shares under the share repurchase plan of $ 23.4 million , financing fees paid of $ 8.3 million and dividends paid in the amount of $ 26.9 million . at december 31 , 2019 , we had $ 22.0 million of cash on hand . for the year ended december 31 , 2018 , we experienced a net decrease in cash in the amount of $ 179.4 million . during that period , our operating activities used $ 198.3 million in cash , consisting primarily of purchases of portfolio investments of $ 1,553.9 million , purchases of short-term investments of $ 1,363.3 million , partially offset by the sale of our investment portfolio to the asset buyer for $ 793.3 million , proceeds from sales of investments totaling $ 606.8 million and proceeds from the sales of short-term investments of $ 1,318.1 million .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```cash flows for the year ended december 31 , 2019 , we experienced a net increase in cash in the amount of $ 9.6 million . during that period , our operating activities used $ 31.5 million in cash , consisting primarily of purchases of portfolio investments of $ 473.7 million and purchases of short-term investments of $ 913.6 million , partially offset by proceeds from sales of investments totaling $ 449.9 million and proceeds from the sales of short-term investments of $ 862.3 million . in addition , financing activities provided net cash of $ 41.1 million , consisting primarily of net proceeds from our $ 449.3 million term debt securitization , or the debt securitization , of $ 348.3 million , partially offset by net repayments under the august 2018 credit facility and the february 2019 credit facility of $ 218.6 million , repayments of the debt securitization of $ 30.0 million , purchases of shares under the share repurchase plan of $ 23.4 million , financing fees paid of $ 8.3 million and dividends paid in the amount of $ 26.9 million . at december 31 , 2019 , we had $ 22.0 million of cash on hand . for the year ended december 31 , 2018 , we experienced a net decrease in cash in the amount of $ 179.4 million . during that period , our operating activities used $ 198.3 million in cash , consisting primarily of purchases of portfolio investments of $ 1,553.9 million , purchases of short-term investments of $ 1,363.3 million , partially offset by the sale of our investment portfolio to the asset buyer for $ 793.3 million , proceeds from sales of investments totaling $ 606.8 million and proceeds from the sales of short-term investments of $ 1,318.1 million .
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 Suspicious Activity Report : adjustments to the purchase price included , among other things , approximately $ 208.8 million of principal payments and prepayments , sales proceeds and distributions related to the investment portfolio that were received and retained by us between december 31 , 2017 and the closing of the asset sale transaction , offset by approximately $ 29.5 million of loans and equity investments originated by us between december 31 , 2017 and the closing of the asset sale transaction . in connection with the closing of the asset sale transaction , we caused notices to be issued to the holders of our december 2022 notes and march 2022 notes ( each as defined in our consolidated financial statements for the fiscal year ended december 31 , 2019 and notes thereto ) regarding the redemption of all $ 80.5 million in aggregate principal amount of the december 2022 notes and all $ 86.3 million in aggregate principal amount of the march 2022 notes , in each case , on august 30 , 2018. the december 2022 notes and the march 2022 notes were redeemed at 100 % of their principal amount ( $ 25.00 per note ) , plus the accrued and unpaid interest thereon from june 15 , 2018 to , but excluding , august 30 , 2018. in furtherance of the redemption , on july 31 , 2018 , we irrevocably deposited with the bank of new york mellon trust company , n.a . , as trustee under the indenture and supplements thereto relating to the december 2022 notes and the march 2022 notes , funds in trust for the purposes of redeeming all of the issued and outstanding december 2022 notes and march 2022 notes and paying all sums due and payable under the indenture and supplements thereto . as a result , our obligations under the indenture and supplements thereto relating to the december 2022 notes and the march 2022 notes were satisfied and discharged as of july 31 , 71 2018 , except with respect to those obligations that the indenture expressly provides shall survive the satisfaction and discharge of the indenture . in addition , in connection with the closing of the asset sale transaction , we terminated our senior secured credit facility entered into in may 2015 ( and subsequently amended in may 2017 ) , or the may 2017 credit facility . our former wholly-owned subsidiaries , triangle mezzanine fund lllp , or triangle sbic , triangle mezzanine fund ii lp , or triangle sbic ii , and triangle mezzanine fund iii lp , or triangle sbic iii , were specialty finance limited partnerships that were formed to make investments primarily in lower middle-market companies located throughout the united states . each of triangle sbic , triangle sbic ii and triangle sbic iii held licenses to operate as small business investment companies , or sbics , under the authority of the united states small business administration , or sba . in connection with the closing of the asset sale transaction , we repaid all of our outstanding sba-guaranteed debentures and surrendered the sbic licenses held by triangle sbic , triangle sbic ii , and triangle sbic iii . the externalization transaction closed on august 2 , 2018. effective as of the externalization closing , we changed our name from triangle capital corporation to barings bdc , inc. and on august 3 , 2018 began trading on the new york stock exchange , or nyse , under the symbol `` bbdc . `` in connection with the closing of the externalization transaction , we entered into an investment advisory agreement , or the advisory agreement , and an administration agreement , or the administration agreement , with barings , pursuant to which barings serves as our investment adviser and administrator and manages our investment portfolio which initially consisted primarily of the cash proceeds received in connection with the asset sale transaction . on august 2 , 2018 , we issued 8,529,917 shares of our common stock to barings at a price of $ 11.723443 per share , or an aggregate of $ 100.0 million in cash . furthermore , on august 7 , 2018 , we launched a $ 50.0 million issuer tender offer , or the tender offer . pursuant to the tender offer , we purchased 4,901,961 shares of our common stock at a purchase price of $ 10.20 per share , for an aggregate cost of approximately $ 50.0 million , excluding fees and expenses relating to the tender offer . the shares of common stock purchased in the tender offer represented approximately 8.7 % of our issued and outstanding shares as of september 6 , 2018. on september 24 , 2018 , or the effective date , barings entered into a rule 10b5-1 purchase plan , or the 10b5-1 plan , that qualifies for the safe harbors provided by rules 10b5-1 and 10b-18 under the exchange act . pursuant to the 10b5-1 plan , an independent broker made purchases of shares of our common stock on the open market on behalf of barings in accordance with purchase guidelines specified in the 10b5-1 plan . the 10b5-1 plan was established in accordance with barings obligation under the externalization agreement to enter into a trading plan pursuant to which barings committed to purchase $ 50.0 million in value of shares in open market transactions through an independent broker . the maximum aggregate purchase price of all shares purchased under the 10b5-1 plan was $ 50.0 million . on february 11 , 2019 , barings fulfilled its obligations under the 10b5-1 plan to purchase an aggregate amount of $ 50.0 million in shares of our common stock and the 10b5-1 plan terminated in accordance with its terms . story_separator_special_tag interest and other financing fees during the year ended december 31 , 2019 were attributable to borrowings under the august 2018 credit facility , the february 2019 credit facility and the debt securitization ( each as defined below under `` liquidity and capital resources `` ) . interest and other financing fees during the year ended december 31 , 2018 were primarily attributed to borrowings under our sba-guaranteed debentures , the may 2017 credit facility and both the march 2022 notes and the december 2022 notes . in connection with the transactions , the sba-guaranteed debentures and the may 2017 credit facility were repaid and the march 2022 notes and the december 2022 notes were redeemed . the decrease in interest and other financing fees expense from the year ended december 31 , 2017 to the year ended december 31 , 2018 was primarily attributable to the repayment of our sba-guaranteed debentures , the repayment of our may 2017 credit facility and the redemption of both the march 2022 notes and the december 2022 notes , partially offset by interest and fees incurred related to borrowings under the august 2018 credit facility . base management fees under the advisory agreement , we pay barings a base management fee , or the base management fee , quarterly in arrears on a calendar quarter basis . the base management fee is calculated based on the average value of our gross assets , excluding cash and cash equivalents , at the end of the two most recently completed calendar quarters prior to the quarter for which such fees are being calculated . base management fees for any partial month or quarter are appropriately pro-rated . prior to the externalization transaction we were an internally-managed bdc and did not pay any base management fees . see note 2 to our consolidated financial statements for the year ended december 31 , 2019 for additional information regarding the advisory agreement and the fee arrangement thereunder . for the year ended december 31 , 2019 , the base management fee determined in accordance with the terms of the advisory agreement was approximately $ 12.1 million . for the year ended december 31 , 2018 , the base management fee determined in accordance with the terms of the advisory agreement was approximately $ 4.2 million . for the quarter ended september 30 , 2018 , the calculation of the base management fee under the terms of the advisory agreement was based on the average of our gross assets , excluding cash and cash equivalents , as of march 31 , 2018 and june 30 , 2018 , both of which were dates prior to the consummation of the transactions . for the quarter ended december 31 , 2018 , the calculation of the base management fee under the terms of the advisory agreement was based on the average of our gross assets , excluding cash and cash equivalents , as of june 30 , 2018 , which was prior to the transactions , and september 30 , 2018. in light of this fact , and in order to ensure that barings did not earn a base management fee on assets that it did not manage prior to the transactions , barings calculated the base management fee for the quarter ended september 30 , 2018 based on our average gross assets as of august 2 , 2018 and september 30 , 2018 , excluding ( i ) cash and cash equivalents , ( ii ) short-term investments , ( iii ) unsettled purchased investments and ( iv ) assets subject to participation agreements ( the “ q3 2018 adjusted management fee ” ) . for the quarter ended december 31 , 2018 , barings calculated the base management fee based on our average gross assets as of september 30 , 2018 and 78 december 31 , 2018 , excluding ( i ) cash and cash equivalents , ( ii ) short-term investments , ( iii ) unsettled purchased investments and ( iv ) assets subject to participation agreements ( the “ q4 2018 adjusted management fee , ” and together with the q3 2018 adjusted management fee , ” the “ fy 2018 adjusted management fee ” ) . barings voluntary agreed to waive the difference between the $ 4.2 million base management fee calculated under the terms of the advisory agreement and the fy 2018 adjusted management fee , which resulted in a net base management fee of approximately $ 2.7 million for the year ended december 31 , 2018 after taking into account a waiver of approximately $ 1.5 million based on the calculations noted above . compensation expenses prior to the transactions , compensation expenses were primarily influenced by headcount and levels of business activity . our compensation expenses included salaries , discretionary compensation , equity-based compensation and benefits . discretionary compensation was significantly impacted by our level of total investment income , our investment results , including investment realizations , prevailing labor markets and the external environment . in connection with the transactions , all but two employees were terminated . the compensation expenses for the year ended december 31 , 2019 related to salaries , benefits and discretionary compensation of these remaining employees . compensation expenses for the year ended december 31 , 2018 related predominantly to the transactions , and the subsequent change of control and related termination of our employees . in the year ended december 31 , 2018 , we recognized approximately $ 27.6 million in one-time compensation expenses associated with the transactions which included severance expenses , pro-rata incentive compensation , transaction-related bonuses , expenses related to the acceleration of vesting of restricted stock grants and deferred compensation grants , and other expenses associated with the obligations under our existing severance agreements and severance policy . general and administrative expenses on august 2 , 2018 , we entered into the administration agreement with barings . under the terms of the

