# EDGAR Filing Document

**Accession Number:** 0001825248
**File Stem:** 0001104659-23-037793
**Filing Date:** 2023-3
**Character Count:** 6854
**Document Hash:** 3edfd969a14b4b66af7ce234dca3dbaa
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-037793.hdr.sgml**: 20230328

**ACCESSION NUMBER**: 0001104659-23-037793

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 12

**CONFORMED PERIOD OF REPORT**: 20230327

**ITEM INFORMATION**: Unregistered Sales of Equity Securities

**FILED AS OF DATE**: 20230328

**DATE AS OF CHANGE**: 20230328

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Franklin BSP Capital Corp
- **CENTRAL INDEX KEY:** 0001825248
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 814-01360
- **FILM NUMBER:** 23770787

**BUSINESS ADDRESS:**
- **STREET 1:** 9 WEST 57TH STREET
- **STREET 2:** SUITE 4920
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019
- **BUSINESS PHONE:** (212) 588-6700

**MAIL ADDRESS:**
- **STREET 1:** 9 WEST 57TH STREET
- **STREET 2:** SUITE 4920
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Franklin BSP Capital L.L.C.
- **DATE OF NAME CHANGE:** 20200917

?xml version="1.0" encoding="utf-8"?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, DC 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the**

**Securities Exchange Act of 1934**

**Date of report (Date of earliest event reported): March 27, 2023**

**<u>Franklin BSP Capital Corporation</u>**

**(Exact name of Registrant as Specified in Its Charter)**

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| | | |
|:---|:---|:---|
| **Delaware** | **814-01360** | **85-2950084** |
| **(State or Other Jurisdiction<br> of Incorporation)** | **(Commission<br> File Number)** | **(IRS Employer<br> Identification No.)** |

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| | |
|:---|:---|
| **9 West 57th Street, Suite 4920, New York, New York** | **10019** |
| **(Address of Principal Executive Offices)** | **(Zip Code)** |

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**Registrant's telephone number, including area code: <u>(212) 588-6700</u>**

**(Former Name or Former Address, if Changed**

**Since Last Report)**

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol** | **Name of each exchange on which registered** |
| N/A | N/A | N/A |

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (*see* General Instruction A.2. below):

◻ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

◻ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

◻ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

◻ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b- 2 of the Securities Exchange Act of 1934.

Emerging growth company ⌧

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ⌧

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| | |
|:---|:---|
| **Item 3.02.** | **Unregistered Sales of Equity Securities.** |

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Pursuant to drawdown notices previously delivered to investors, Franklin BSP Capital Corporation (the "Company") issued and sold approximately 532,871 shares of the Company's common stock, par value $0.001 per share (the "Common Stock"), and approximately 41,353 shares of the Company's Series A Convertible Preferred Stock, par value $0.001 per share (the "Preferred Stock"), for an aggregate offering price of approximately $49.4 million. The shares of Common Stock and Preferred Stock were issued as of March 27, 2023.

The Preferred Stock is convertible at the option of the Company, at any time commencing on the closing date of a Liquidity Event, and in its sole discretion, into the Company's common stock, par value $0.001 per share (the "Common Stock"). Each share of Preferred Stock issued on March 27, 2023 will convert into 66.01 shares of Common Stock, which equals (1) the liquidation preference of $1,000.00 per share of the Preferred Stock divided by (2) $15.15, which is the price paid by investors for shares of Common Stock at the time of the purchase of such share of Preferred Stock (the "Conversion Rate"). "Liquidity Event" is defined as any of: (1) a merger or another transaction approved by the Company's board of directors in which the holders of Common Stock will receive cash or shares of a publicly traded company (or a company that becomes publicly traded concurrently with the closing of such transaction), which may include an entity advised by the Company's investment adviser or its affiliates, (2) an initial public offering or a listing of the Common Stock on a national securities exchange, or (3) the sale of all or substantially all of the Company's assets either on a complete portfolio basis or individually followed by a liquidation. At any time commencing six months following the closing date of a Liquidity Event, each holder of Preferred Stock shall have the option to convert all or a portion of the Preferred Stock issued on March 27, 2023 to Common Stock at the Conversion Rate.

The sales of Common Stock and Preferred Stock were made pursuant to subscription agreements (collectively, the "Subscription Agreements") entered into by the Company with its investors. Pursuant to the Subscription Agreements, each investor is required to fund drawdowns to purchase shares of Common Stock or Preferred Stock, as applicable, up to the amount of their respective capital commitments on an as-needed basis upon a minimum of 10 business days' prior notice.

The issuances of the Common Stock and Preferred Stock are exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"), pursuant to Section 4(a)(2) thereof and Regulation D thereunder. The Company relied, in part, upon representations from investors in the relevant Subscription Agreements that each investor is an "accredited investor," as defined in Regulation D under the Securities Act.

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
|  | **Franklin BSP Capital Corporation** | **Franklin BSP Capital Corporation** |
| Date: March 28, 2023 | By: | /s/ Nina K. Baryski |
|  | Name: | Nina K. Baryski |
|  | Title: | Chief Financial Officer and Treasurer |

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