secwatch.observer — SEC 8-K summary
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Issuer:     BlackRock TCP Capital Corp. (TCPC)
CIK:        0001370755
Form:       8-K
Filed at:   2023-09-06T23:59:59+00:00
Accession:  0001140361-23-042949
Event type: m_and_a
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1370755/000114036123042949/0001140361-23-042949-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1370755/000114036123042949/brhc20058304_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-042949

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer