BlackRock TCP Capital shareholders vote down proposal to sell shares below NAV

BlackRock TCP Capital Corp.

Proposal to renew authorization to sell common stock below NAV failed with 22.4M For, 4.5M Against, 678k Abstain.
Adjusted vote excludes 302k affiliated shares; result remains insufficient for passage.
Authorization would have allowed below-NAV offerings for up to 12 months subject to board approval.
Outcome limits TCPC's equity capital-raising flexibility without further stockholder vote.

Key facts

Extracted from this filing and checked against the source text.

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

BlackRock TCP Capital Corp. shareholders rejected Renew authorization to sell shares below net asset value at the 2023-06-23 meeting.

Outcome: failed
Meeting: 2023-06-23

Exact text from the filing

the proposal to renew the Company’s authorization, with approval of its Board of Directors, to sell shares of the Company’s common stock at a price or prices below its then current net asset value per share in one or more offerings (for up to the next 12 months), subject to certain limitations set forth in the annual proxy statement (the “Proposal”). As set forth below, an insufficient number of affirmative votes was received with respect to the Proposal and it did not pass: For Against Abstained Broker Non-Votes 22,413,869 4,517,457 678,393 0

View on SEC.gov

Browse all shareholder votes →

BlackRock TCP Capital Corp. filing history →

Source: SEC EDGAR

accession 0001140361-23-031395

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.