secwatch.observer — SEC 8-K summary
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Issuer:     Franklin BSP Capital Corp (FRBP)
CIK:        0001825248
Form:       8-K
Filed at:   2023-03-28T23:59:59+00:00
Accession:  0001104659-23-037793
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 3.02
LLM model:  deepseek-v4-flash:cloud@v2

Franklin BSP Capital issues $49.4M in common and preferred stock via drawdowns
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- Issued 532,871 shares of common stock and 41,353 shares of Series A convertible preferred stock on March 27, 2023.
- Aggregate offering price of approximately $49.4 million from drawdowns under existing subscription agreements.
- Preferred stock liquidation preference is $1,000 per share; convertible at company's option into 66.01 common shares per preferred share.
- Conversion rate based on common price of $15.15; investor optional conversion begins six months after a liquidity event.
- Sales exempt under Section 4(a)(2) and Regulation D; all investors represented as accredited.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1825248/000110465923037793/0001104659-23-037793-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1825248/000110465923037793/tm2310802d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-037793

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