Silverback Asset Management, LLC

Silverback Asset Management, LLC is a registered investment adviser based in Chapel Hill, North Carolina, established in April 2002. The firm, led by founder Elliot Bossen, manages investment advisory accounts for clients on a discretionary basis, including private funds and separately managed accounts. The firm specializes in opportunistic credit, convertible arbitrage, and special situations strategies, focusing on convertible, credit, and equity markets. As of March 1, 2025, Silverback had approximately $622 million in client assets under management, all managed on a discretionary basis. For the Funds managed by Silverback, the firm receives a monthly management fee ranging from 0.75% to 1.75% per annum based on net assets, along with performance-based compensation ranging from 10% to 17.5% of net profits. The firm may waive or reduce fees for certain investors. Silverback may also receive research and brokerage services from broker-dealers in connection with client transactions. The firm has a Code of Ethics in place to ensure fair and honest dealings with clients and has procedures to address conflicts of interest. Silverback provides investment discretion to clients, with the authority to determine securities transactions and amounts, considering factors such as client objectives, risk profiles, and market conditions. The firm has policies in place for fair allocation of securities among clients and may engage in cross transactions between client accounts. Silverback also has Proxy Voting Policies and Procedures to vote in the best interests of clients when holding voting equity securities.