BlackRock TCP Capital Corp. filed a shelf registration statement for its sale of certain securities from time to time.
The filing covers the sale of common shares, preferred shares, debt securities, subscription rights and warrants. The offering has a proposed maximum price of $600.0 million.
BlackRock TCP Capital intends to use net proceeds to repay amounts under its SVCP and TCPC credit facilities, invest in portfolio companies and for general corporate purposes, which include paying for operating expenses. As of Aug. 15, the SVCP credit facility has an outstanding amount of $139.0 million and is set to mature May 6, 2023, while the TCPC credit facility has an outstanding amount of $307.0 million and is set to mature May 31, 2023. Both maturity dates can be extended at the company's request.
The company's investment adviser is Tennenbaum Capital Partners LLC, a subsidiary of BlackRock Inc.
