Franklin BSP Capital issues $35M in common and convertible preferred stock

Franklin BSP Capital Corp

Issued ~1.3M common shares and ~16K Series A convertible preferred shares for ~$35.0M aggregate price.
Preferred shares convertible into common at 66.67-to-1 based on $15.00 common price; conversion at Company's option after a Liquidity Event.
Sales to accredited investors under subscription agreements, exempt from registration under Section 4(a)(2) and Regulation D.
Liquidity Event defined as merger, IPO, or asset sale; investor conversion option starts six months after such event.

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