secwatch.observer — SEC 8-K summary
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Issuer:     Franklin BSP Capital Corp (FRBP)
CIK:        0001825248
Form:       8-K
Filed at:   2022-11-28T23:59:59+00:00
Accession:  0001104659-22-122340
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 3.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1825248/000110465922122340/0001104659-22-122340-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1825248/000110465922122340/tm2231287d2_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-122340

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