---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-006162"
form_type: "8-K"
ticker: "FRBP"
cik: "0001825248"
company_name: "Franklin BSP Capital Corp"
filed_at: "2024-01-24T23:59:59+00:00"
generated_at: "2026-06-06T19:24:38.585358+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Franklin BSP Capital Corp completes merger with FBLC; advisory fees raised

## Summary
- Merger closed Jan 24, 2024: FBLC merged into FBCC, which is the surviving company advised by Franklin BSP Capital Adviser.
- Combined pro forma total assets >$3.8B, net assets ~$2.1B as of Sep 30, 2023; legacy FBCC holders own 19.3%, former FBLC holders 80.7%.
- FBLC shareholders received 0.4647 shares of FBCC per share; ~110M shares issued to former FBLC stockholders.
- Amended advisory agreement: base fee 1.50% of avg gross assets (1.00% on debt-funded assets above 1.0x debt/equity); incentive fee increased to 17.5% on income with catch-up.
- Management expects deal to be immediately accretive and unlock ~$700M of capital for deployment in attractive origination.

## SEC filing metadata
- accession: 0001213900-24-006162
- form_type: 8-K
- ticker: FRBP
- cik: 0001825248
- company_name: Franklin BSP Capital Corp
- filed_at: 2024-01-24T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1825248/000121390024006162/0001213900-24-006162-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1825248/000121390024006162/ea191916-8k_franklinbsp.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-006162
- JSON: https://secwatch.observer/filing/0001213900-24-006162.json
- Plain text: https://secwatch.observer/filing/0001213900-24-006162.txt

## Key facts
- M&A Transactions
  Franklin BSP Capital Corp completed an acquisition involving Franklin BSP Lending Corporation for 0.4647 shares of common stock, par value $0.001 per share, of the Company (closed 2024-01-24).
  - Action: acquisition
  - Counterparty: Franklin BSP Lending Corporation
  - Consideration: 0.4647 shares of common stock, par value $0.001 per share, of the Company
  - Closing: 2024-01-24
  source text: with the terms of the Merger Agreement, at the effective time of the Initial Merger, each outstanding share of FBLC’s common stock was converted into the right to receive 0.4647 shares of common stock, par value $0.001 per share, of the Company. As a result, the Company issued an aggregate of approximately 110.0 million shares of its common stock to
  evidence_url: https://www.sec.gov/Archives/edgar/data/1825248/000121390024006162/0001213900-24-006162-index.htm

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