8-K

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): April 26, 2021

Franklin BSP Capital Corporation

(Exact name of Registrant as Specified in Its Charter)

Delaware	814-01360	85-2950084
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

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

Registrant’s telephone number, including area code: (212) 588-6700

(Former Name or Former Address, if Changed Since Last Report)

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

Title of each class	Trading Symbol	Name of each exchange on which registered
N/A	N/A	N/A

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):

o 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 þ

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. þ

Item 8.01. Other Events.

On April 26, 2021, Franklin BSP Capital Corporation (the “Company”) issued a press release announcing the closing of equity commitments to the Company. A copy of the press release is attached hereto as Exhibit 99.1.

Item 9.01 Financial Statement and Exhibits

(d) Exhibits.

99.1 Press release of the Company dated April 26, 2021.

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.

	Franklin BSP Capital Corporation
Date: April 26, 2021	By:	/s/ Nina K. Baryski
	Name:	Nina K. Baryski
	Title:	Chief Financial Officer

EX-99.1

Exhibit 99.1

Benefit Street Partners Closes Early Equity Commitments into

Franklin BSP Capital Corporation

NEW YORK – April 26, 2021 – Benefit Street Partners L.L.C. (“BSP”), a subsidiary of Franklin Templeton and a leading credit-focused alternative asset management firm with $30 billion in assets under management, today announced the closing of equity commitments into Franklin BSP Capital Corporation (“FBCC” or the “Fund”). FBCC is a closed-end management investment company that has elected to be regulated as a business development corporation (“BDC”) whose investment adviser is an affiliate of BSP. The Fund has raised approximately $550 million in early closings from a combination of institutional and high net worth investors in accordance with certain exemptions from the registration requirements of the Securities Act of 1933, as amended.

FBCC intends to use the net proceeds to invest primarily in first and second lien senior secured debt investments and, to a lesser extent, mezzanine and unsecured debt issued by middle market companies in accordance with its investment objective and strategies, and for general corporate purposes.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described above, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

About Benefit Street Partners

Benefit Street Partners L.L.C. (“BSP”) is a leading credit-focused alternative asset management firm with over $30 billion in assets under management as of March 31, 2021. BSP manages assets across a broad range of complementary credit strategies, including private/opportunistic debt, structured credit, high yield, special situations, and commercial real estate. Based in New York, the BSP platform was established in 2008. BSP is a wholly owned subsidiary of Franklin Templeton. For further information, please visit www.benefitstreetpartners.com.

About Franklin Templeton

Franklin Resources, Inc. [NYSE:BEN], is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 165 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company brings extensive capabilities in equity, fixed income, multi-asset solutions and alternatives. With offices in more than 30 countries and approximately 1,300 investment professionals, the California-based company has over 70 years of investment experience and approximately $1.5 trillion in assets under management as of March 31, 2021. For more information, please visit franklintempleton.com and follow us on LinkedIn, Twitter, and Facebook.

Important Notice

This press release contains “forward looking statements” that are subject to risks and uncertainties. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual outcomes and results, including the use of proceeds, could differ materially from those suggested in this press release due to the impact of many factors, including those beyond the control of FBCC and those listed in the “Risk Factors” section of FBCC’s filings with the Securities and Exchange Commission. All forward-looking statements speak only as of the date of this press release. FBCC assumes no obligation to update or revise any such forward looking statements. FBCC has based these forward-looking statements on its current expectations and projections about future events. FBCC believes that the expectations and assumptions that have been made with respect to these forward-looking statements are reasonable. However, such expectations and assumptions may prove to be incorrect. A number of factors could lead to results that may differ from those expressed or implied by the forward-looking statements. Given this level of uncertainty, undue reliance should not be placed on any forward-looking statements.

Media Contacts:

Corporate Communications: Pholida Barclay

(212) 632-3204, pholida.barclay@franklintempleton.com

Prosek Partners: Kate Dillion

(518) 859-2892, kate.dillion@prosek.com