---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-042949"
form_type: "8-K"
ticker: "TCPC"
cik: "0001370755"
company_name: "BlackRock TCP Capital Corp."
filed_at: "2023-09-06T23:59:59+00:00"
generated_at: "2026-06-10T23:18:31.329407+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# BlackRock TCP Capital Corp. to merge with BlackRock Capital Investment Corp. in stock-for-stock deal

## Summary
- BCIC shareholders receive TCPC shares based on NAV exchange ratio; combined net assets ~$1.1B (6/30/23).
- Base management fee cut from 1.50% to 1.25% on assets ≤200% of NAV; fee waiver guarantees $0.32/share adjusted NII for 4 quarters.
- Transaction expected to close in first fiscal quarter 2024; termination fees ~$9.4M (BCIC) or ~$22.4M (TCPC).
- Advisor covers 50% of transaction costs up to $6M combined ($3M if shareholder approval fails).

## SEC filing metadata
- accession: 0001140361-23-042949
- form_type: 8-K
- ticker: TCPC
- cik: 0001370755
- company_name: BlackRock TCP Capital Corp.
- filed_at: 2023-09-06T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1370755/000114036123042949/0001140361-23-042949-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1370755/000114036123042949/brhc20058304_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-042949
- JSON: https://secwatch.observer/filing/0001140361-23-042949.json
- Plain text: https://secwatch.observer/filing/0001140361-23-042949.txt

## Key facts
- Material Agreements
  BlackRock TCP Capital Corp. entered into Agreement and Plan of Merger with BlackRock Capital Investment Corporation (effective 2023-09-06).
  - Action: entry
  - Agreement: merger
  - Counterparty: BlackRock Capital Investment Corporation
  - Effective: 2023-09-06
  source text: On September 6, 2023, BlackRock TCP Capital Corp., a Delaware corporation (NASDAQ: TCPC) (“TCPC”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with BlackRock Capital Investment Corporation, a Delaware corporation (NASDAQ: BKCC) (“BCIC”), Project Spurs Merger Sub, LLC, a Delaware limited liability company and wholly-owned indirect subsidiary of TCPC (“Merger Sub”), and, solely for the limited purposes set forth therein, (x) BlackRock Capital Investment Advisors, LLC, a Delaware limited liability company and investment adviser to BCIC (“BCIA”), and (y) Tennenbaum Capital Partners, LLC, a Delaware limited liability company and investment adviser to TCPC (“TCP”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1370755/000114036123042949/0001140361-23-042949-index.htm

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