BlackRock TCP Capital Corp. Announces 2024 Annual Meeting of Stockholders

TL;DR

<b>BlackRock TCP Capital Corp. is holding its 2024 Annual Meeting of Stockholders virtually on May 23, 2024, to elect directors and vote on selling shares below NAV.</b>

AI Summary

BlackRock TCP Capital Corp. (TCPC) filed a Proxy Statement (DEF 14A) with the SEC on April 3, 2024. The 2024 Annual Meeting of Stockholders for BlackRock TCP Capital Corp. will be held virtually on May 23, 2024, at 9:00 a.m. Pacific Time. Stockholders will vote on electing six Director nominees to the Board of Directors. A proposal to authorize the Company to sell shares below net asset value per share will be considered. The meeting will be conducted in a virtual format only, accessible via a web link. The filing is a Definitive Proxy Statement (DEF 14A) filed on April 3, 2024.

Why It Matters

For investors and stakeholders tracking BlackRock TCP Capital Corp., this filing contains several important signals. This filing provides stockholders with crucial information regarding the upcoming annual meeting, including the agenda and voting procedures. The proposal to sell shares below net asset value is a significant decision that could impact shareholder value and dilution.

Risk Assessment

Risk Level: — BlackRock TCP Capital Corp. shows moderate risk based on this filing. The filing is a routine proxy statement for an annual meeting and does not contain new financial performance data or significant strategic shifts.

Analyst Insight

Stockholders should review the proxy materials carefully to understand the proposals, especially the potential sale of shares below NAV, and vote accordingly.

Key Numbers

• 6 — Director Nominees (Number of director nominees to be elected at the Annual Meeting)
• 9:00 a.m. Pacific Time — Meeting Time (Time the Annual Meeting will commence)

Key Players & Entities

• BlackRock TCP Capital Corp. (company) — Registrant and filer of the proxy statement
• May 23, 2024 (date) — Date of the Annual Meeting of Stockholders
• 2024 (date) — Year of the Annual Meeting
• April 3, 2024 (date) — Filing date of the proxy statement
• 2951 28th Street, Suite 1000, Santa Monica, California 90405 (address) — Company's business and mailing address

FAQ

Risk Factors

• Sale of Shares Below Net Asset Value [medium — financial]: The company seeks authorization to sell shares below its then current net asset value per share, which could impact shareholder equity.

Industry Context

BlackRock TCP Capital Corp. is a business development company (BDC) that invests in debt and equity of middle-market companies.

Regulatory Implications

The filing is made under Section 14(a) of the Securities Exchange Act of 1934, governing proxy solicitations.

What Investors Should Do

1. Review the proxy statement for details on director nominees and their qualifications.
2. Understand the implications of the proposal to sell shares below net asset value.
3. Participate in the virtual meeting or submit proxy votes by the deadline.

Key Dates

• 2024-05-23: Annual Meeting of Stockholders — Key date for voting on proposals and director elections.
• 2024-04-03: Filing Date — Date the Definitive Proxy Statement was filed with the SEC.

Year-Over-Year Comparison

This is the initial filing for the 2024 Annual Meeting of Stockholders, providing details on upcoming proposals and director elections.

Key Financial Figures

• $387,200 — enses are estimated to be approximately $387,200. If brokers, nominees, fiduciaries and
• $8,000 — ith an estimated base fee not to exceed $8,000 plus estimated additional fees and expe
• $150,000 — any to pay Georgeson LLC, approximately $150,000 in total fees and expenses based on the
• $100,000 — erested Directors Rajneesh Vig Over $100,000 Independent Directors John R. Baron
• $100,000 K — n None (2) Eric J. Draut (3) Over $100,000 Karen L. Leets None Andrea L. Petro
• $50,001 — ren L. Leets None Andrea L. Petro $50,001-$100,000 Maureen K. Usifer None (4)
• $100,000 M — eets None Andrea L. Petro $50,001-$100,000 Maureen K. Usifer None (4) (1) Dollar
• $1 — (1) Dollar ranges are as follows: none, $1 — $10,000, $10,001 — $50,000, $50,001 —
• $10,000 — ollar ranges are as follows: none, $1 — $10,000, $10,001 — $50,000, $50,001 — $100,000,
• $10,001 — ges are as follows: none, $1 — $10,000, $10,001 — $50,000, $50,001 — $100,000, or over
• $50,000 — follows: none, $1 — $10,000, $10,001 — $50,000, $50,001 — $100,000, or over $100,000.
• $42,000 — t has a remaining capital commitment of $42,000 in Tennenbaum Special Situations Fund I

Filing Documents

• tcpc-20240403.htm (DEF 14A) — 643KB
• img117042386_0.jpg (GRAPHIC) — 67KB
• img117042386_1.jpg (GRAPHIC) — 67KB
• img117042386_2.jpg (GRAPHIC) — 189KB
• img117042386_3.jpg (GRAPHIC) — 67KB
• img117042386_4.jpg (GRAPHIC) — 753KB
• img117042386_5.jpg (GRAPHIC) — 287KB
• 0000950170-24-041209.txt (&nbsp;) — 4452KB
• tcpc-20240403.xsd (EX-101.SCH) — 5KB
• tcpc-20240403_htm.xml (XML) — 102KB

Security Ownership of Certain Beneficial Owners and Management

Security Ownership of Certain Beneficial Owners and Management As of March 27, 2024, there were no persons that owned more than 25% of our outstanding voting securities, and no person would be presumed to control us, as such term is defined in the 1940 Act. 9 Our Directors are divided into two groups — interested directors and independent directors. "Interested Directors" are those who are "interested persons" of the Company, as defined in the 1940 Act. "Independent Directors" are those who are not "interested persons" of the Company, as defined in the 1940 Act. The following table sets forth, as of December 31, 2023, certain ownership information with respect to the Company's shares for those persons who may, insofar as is known to us, directly or indirectly own, control or hold with the power to vote, 5% or more of our outstanding common shares and the beneficial ownership of each Director nominee and executive officer, and the executive officers and Directors as a group. As of March 27, 2024, all Directors and executive officers as a group owned less than 1% of the Company's outstanding common shares. Unless otherwise indicated, we believe that each person set forth in the table below has sole voting and investment power with respect to all shares of the Company he or she beneficially owns and has the same address as the Company. The Company's address is 2951 28th Street, Suite 1000, Santa Monica, California 90405. Title of Class Name and Address of Beneficial Owner Amount and Nature of Beneficial Ownership Percent of Class 5% or more ho

View Full Filing

View this DEF 14A filing on SEC EDGAR