secwatch.observer — SEC 8-K summary
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Issuer:     Franklin BSP Capital Corp (FRBP)
CIK:        0001825248
Form:       8-K
Filed at:   2021-08-25T23:59:59+00:00
Accession:  0001104659-21-109383
Event type: other_material
Sentiment:  positive
Materiality: 0.60
Item codes: 1.01, 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Franklin BSP Capital raises $27.5M via Series A Convertible Preferred Stock
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- Raised ~$27.5M in new capital commitments via private placement of Series A Convertible Preferred Stock.
- Liquidation preference of $1,000 per share; dividends payable quarterly, initially linked to common dividends.
- Conversion: Company can convert all or portion upon Liquidity Event (IPO, merger, asset sale); holders can convert six months post-event.
- Redemption: Company or holders may redeem after August 23, 2029 at $1,000 per share on 90 days' notice.
- Preferred stock ranks senior to common on liquidation and dividends; holders vote with common on as-converted basis.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1825248/000110465921109383/0001104659-21-109383-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1825248/000110465921109383/tm2125906d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-21-109383

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