UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(A) of the

Securities Exchange Act of 1934

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¨ Preliminary Proxy Statement

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¨ Definitive Proxy Statement

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¨ Soliciting Material Pursuant to §240.14a 12

Franklin BSP Capital Corporation 

(Name of Registrant as Specified In Its Charter)

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

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EXPLANATORY NOTE

Franklin BSP Capital Corporation (the “Company”) announced the adjournment until Thursday, June 17, 2021, of its 2021 annual meeting of stockholders, a copy of the announcement is included herein.

Franklin BSP Capital Corporation Announces Adjournment of 2021 Annual Meeting of Stockholders

NEW YORK – June 4, 2021 – Franklin BSP Capital Corporation (“FBCC”) held its 2021 Annual Meeting of Stockholders (the “Annual Meeting”) on Friday, June 4, 2021. In order to solicit additional votes for the proposals to be considered at the Annual Meeting, the meeting was adjourned until Thursday, June 17, 2021 at 1:00 p.m. Eastern Time, and will reconvene virtually at that time.

For further information regarding the matters to be acted upon at the Annual Meeting, stockholders are urged to carefully read the proxy statement filed with the Securities and Exchange Commission on April 21, 2021. The proxy statement, the Notice of Annual Meeting and FBCC’s Annual Report on Form 10-K for the year ended December 31, 2020 are available at: http://viewproxy.com/FranklinBSPCapitalCorp/2021. If stockholders have questions about the proposals or would like additional copies of the proxy statement, please contact the proxy solicitor, Broadridge Investor Communication Solutions, Inc. (“Broadridge”) at (855) 486-7909.

Important Notice

This notice contains “forward looking statements” that are subject to risks and uncertainties. Statements other than statements of historical facts 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 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 such statements. 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.