BlackRock TCP Capital Corp. Files 8-K

TL;DR

TCPC filed an 8-K on 3/21 for a 3/18 event - Reg FD disclosure.

AI Summary

BlackRock TCP Capital Corp. filed an 8-K on March 21, 2024, reporting an event on March 18, 2024. The filing is related to Regulation FD Disclosure. The company, formerly known as TCP Capital Corp. and Special Value Continuation Fund, LLC, is incorporated in Delaware and headquartered in Santa Monica, California.

Why It Matters

This 8-K filing indicates a disclosure event under Regulation FD, which ensures fair and timely dissemination of material information to all investors.

Risk Assessment

Risk Level: low — This filing is a standard disclosure under Regulation FD and does not appear to contain any immediate material adverse information.

Key Players & Entities

• BlackRock TCP Capital Corp. (company) — Registrant
• TCP Capital Corp. (company) — Former company name
• Special Value Continuation Fund, LLC (company) — Former company name
• March 18, 2024 (date) — Earliest event reported
• March 21, 2024 (date) — Date of report
• Delaware (jurisdiction) — State of incorporation
• Santa Monica, California (location) — Principal executive offices

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common stock, $0.001 par value per share TCPC The NASDAQ
• $10.95 — 's net asset value ("NAV") per share of $10.95 and BCIC's NAV per share of $4.20, each
• $4 — e of $10.95 and BCIC's NAV per share of $4.20, each as of March 15, 2024. The cha

Filing Documents

• ef20024800_8k.htm (8-K) — 26KB
• 0001140361-24-014490.txt ( ) — 159KB
• tcpc-20240318.xsd (EX-101.SCH) — 4KB
• tcpc-20240318_lab.xml (EX-101.LAB) — 21KB
• tcpc-20240318_pre.xml (EX-101.PRE) — 16KB
• ef20024800_8k_htm.xml (XML) — 4KB

01

Item 7.01. Regulation FD Disclosure. On March 18, 2024, BlackRock TCP Capital Corp. (the "Company") completed its previously announced acquisition of BlackRock Capital Investment Corporation, a Delaware corporation ("BCIC"), pursuant to that certain Amended and Restated Agreement and Plan of Merger (the "Merger Agreement"), dated as of January 10, 2024, by and among the Company, BCIC, the Successor Company, and solely for the limited purposes set forth therein, BlackRock Capital Investment Advisors, LLC, a Delaware limited liability company and investment adviser to BCIC ("BCIA"), and Tennenbaum Capital Partners, LLC, a Delaware limited liability company and wholly-owned subsidiary of BCIA and investment adviser to the Company. Pursuant to the Merger Agreement, BCIC was merged with and into the Successor Company, with the Successor Company continuing as the surviving company and as a subsidiary of Special Value Continuation Partners LLC, a Delaware limited liability company and wholly-owned subsidiary of the Company (the "Merger"). The Merger closed with an exchange ratio of 0.3834, based on the Company's net asset value ("NAV") per share of $10.95 and BCIC's NAV per share of $4.20, each as of March 15, 2024. The change in the Company's NAV between December 31, 2023 and March 15, 2024 was primarily the result of further markdowns on investments that were previously addressed in the Company's fourth quarter and full year ended December 31, 2023 earnings press release and/or conference call, including unrealized losses on the Company's investments in Edmentum, Aventiv Technologies (Securus), Razor, Thras.io, and Astra Acquisition. The NAV determinations described in this report were made pursuant to the requirements of, and solely for the purposes of, the Merger Agreement. The net asset value was not reviewed or approved for purposes of financial statement preparation or as part of a comprehensive statement of the Company's or BCIC's financial results. The adjust

View Full Filing

View this 8-K filing on SEC EDGAR