secwatch.observer — SEC 8-K summary
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Issuer:     BlackRock TCP Capital Corp. (TCPC)
CIK:        0001370755
Form:       8-K
Filed at:   2024-02-29T23:59:59+00:00
Accession:  0000950170-24-022656
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

BlackRock TCP Capital Q4 NII $0.44/share, NAV falls to $11.90; merger with BCIC on track
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- Q4 NII $25.3M ($0.44/diluted share) exceeded $0.34 dividend; 47 consecutive quarters of dividend coverage.
- NAV per share $11.90 (from $12.72 at Sep 30); net decrease in net assets from operations of $13.3M.
- Non-accrual loans 2.0% at fair value (3.7% cost); unrealized losses on Edmentum, Thras.io, Aventiv, Astra, and Nephron.
- Q1 dividend $0.34/share payable March 29, 2024 to holders of record March 14; $50M stock repurchase plan renewed.
- Merger with BCIC expected Q1 2024; post-merger advisor base fee to drop from 1.50% to 1.25% on assets ≤200% NAV.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1370755/000095017024022656/0000950170-24-022656-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1370755/000095017024022656/tcpc-20240229.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-022656

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