Franklin BSP Capital raises $80M through unregistered sale of common and preferred stock

Franklin BSP Capital Corp

Issued ~4.9M shares of common stock at ~$15.39/share for aggregate $75M (Dec 27, 2021).
Issued 5,000 shares of Series A Convertible Preferred Stock (liquidation preference $1,000/share) for $5M, convertible to common at 64.98 shares per preferred share.
Preferred stock convertible at company's option after a Liquidity Event (IPO, merger, asset sale); holders have option 6 months post-closing.
Sales exempt from SEC registration under Section 4(a)(2) and Regulation D; purchasers were accredited investors.

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