secwatch.observer — SEC 8-K summary
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Issuer:     FS KKR Capital Corp (FSK)
CIK:        0001422183
Form:       8-K
Filed at:   2026-06-29T21:06:06+00:00
Accession:  0001104659-26-078916
Event type: other_material
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 3.03, 5.03, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FSK closes $150M convertible preferred issuance to KKR; adviser waives 50% subordinated incentive fee
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- Issued 6M shares of cumulative convertible perpetual preferred stock at $25/share to KKR subsidiary; proceeds for general corporate purposes.
- Initial dividend 5.00% cash or 7.00% PIK; after 5.5 years increases 1% per annum.
- Conversion price initially $18.83 (NAV as of 3/31/2026); convertible after 6 months.
- Adviser waives 50% of subordinated income incentive fee for quarters ending 6/30/2026 through 3/31/2027; no recoupment.
- Company may redeem in cash at any time; after 3 years may redeem in stock if 30-day VWAP >= conversion price.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1422183/000110465926078916/0001104659-26-078916-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1422183/000110465926078916/tm2619102d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-078916

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