secwatch.observer — SEC 8-K summary
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Issuer:     Franklin BSP Capital Corp (FRBP)
CIK:        0001825248
Form:       8-K
Filed at:   2022-04-12T23:59:59+00:00
Accession:  0001104659-22-044901
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 3.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1825248/000110465922044901/0001104659-22-044901-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1825248/000110465922044901/tm2212446d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-044901

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