secwatch.observer — SEC 8-K summary
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Issuer:     Franklin BSP Capital Corp (FRBP)
CIK:        0001825248
Form:       8-K
Filed at:   2021-12-30T23:59:59+00:00
Accession:  0001104659-21-154764
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 3.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1825248/000110465921154764/0001104659-21-154764-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1825248/000110465921154764/tm2136600d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-21-154764

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