secwatch.observer — SEC 8-K summary
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Issuer:     Franklin BSP Capital Corp (FRBP)
CIK:        0001825248
Form:       8-K
Filed at:   2023-10-06T23:59:59+00:00
Accession:  0001213900-23-081185
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FBCC to acquire FBLC in all-stock merger; combined assets ~$3.9B, close H1 2024
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- Exchange ratio based on NAV; illustrative 0.4631 FBCC shares per FBLC share (June 30 NAV).
- Pro forma ownership: 19.2% current FBCC holders, 80.8% current FBLC holders.
- Combined company assets ~$3.9B, net assets ~$2.1B, portfolio ~$3.7B (~97% senior secured).
- Amended advisory agreement raises base fee to 1.50% of gross assets; incentive fees to 17.5%.
- Transaction expected first half 2024, subject to stockholder and regulatory approvals.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1825248/000121390023081185/0001213900-23-081185-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1825248/000121390023081185/ea186277-8k425_franklin.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-081185

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