Franklin BSP Capital issues $5M of Series A Convertible Preferred Stock in private placement

Franklin BSP Capital Corp

Issued 5,000 shares of Series A Convertible Preferred Stock at $1,000 liquidation preference per share, aggregating $5.0M.
Preferred converts into common at Company's option after a Liquidity Event (IPO, merger, asset sale) at 64.68 common shares per preferred.
Conversion rate based on $15.46 per common share, the price paid by investors at time of preferred purchase.
Holders may voluntarily convert Preferred starting six months after a Liquidity Event at the same conversion rate.
Issuance exempt from registration under Section 4(a)(2) and Regulation D; investors represented as accredited.

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