---
schema_version: "secwatch.filing_event.v1"
accession: "0001133228-25-001616"
form_type: "8-K"
ticker: "TCPC"
cik: "0001370755"
company_name: "BlackRock TCP Capital Corp."
filed_at: "2025-02-27T23:59:59+00:00"
generated_at: "2026-05-26T01:20:59.774610+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# TCP Capital corrects Q4 earnings: net unrealized loss $72.3M, cuts regular dividend to $0.25

## Summary
- Corrected Q4 net unrealized loss $72.3M ($0.85/share); GAAP NII $33.8M ($0.40), adjusted NII $30.8M ($0.36).
- NAV per share fell to $9.23 from $10.11; net leverage 1.14x; non-accruals rose to 5.6% at fair value (14.4% at cost).
- Regular dividend cut to $0.25 from $0.34; special dividend $0.04 in Q1; intends $0.02 special Q2 and Q3 2025.
- Adviser voluntarily waived one-third of base management fee for three quarters starting Jan 1, 2025.

## SEC filing metadata
- accession: 0001133228-25-001616
- form_type: 8-K
- ticker: TCPC
- cik: 0001370755
- company_name: BlackRock TCP Capital Corp.
- filed_at: 2025-02-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1370755/000113322825001616/0001133228-25-001616-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1370755/000113322825001616/brtc-efp14829_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001133228-25-001616
- JSON: https://secwatch.observer/filing/0001133228-25-001616.json
- Plain text: https://secwatch.observer/filing/0001133228-25-001616.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.