NEW YORK, January 26, 2024--BlackRock Capital Investment Corporation (NASDAQ:BKCC) ("BlackRock Capital Investment" or the "Company") is pleased to announce the successful completion of its acquisition by BlackRock TCP Capital Corp. The merger has officially taken place, with BlackRock Capital Investment Corporation now operating as a subsidiary under BlackRock TCP Capital Corp.
Santa Monica-based middle market lender Blackrock TCP Capital Corp. recently priced an underwritten public offering of $325 million in aggregate principal amount. This move demonstrates the company's commitment to growth and expansion within the market.
German commercial and industrial solar startup Enviria has secured a capital commitment of over $200 million, highlighting the continued interest in renewable energy investments.
BlackRock TCP Capital Corp. has released its 2023 financial results, including fourth quarter net investment income of $0.44 per share. The company has also declared its first quarter dividend, showcasing its financial stability and commitment to shareholders.
GAAP Net Investment Income ("NII") for BlackRock Capital Investment Corporation was $9.5 million, or $0.13 per share, in the third quarter. This marks a 7% increase from the second quarter, indicating positive growth for the company.
While BlackRock Capital Investment Corporation offers a high dividend yield of 12%, it may not be the ideal investment for all investors. It is essential for individuals to conduct thorough research and consider their own financial goals before investing in the company.
The current landscape of uncertainty for middle market companies, combined with potential interest rate fluctuations, could lead to more deals between publicly listed Business Development Companies (BDCs). This trend may present new opportunities for growth and consolidation within the industry.
In other news, BlackRock TCP Capital Corp. (NASDAQ:TCPC) has appointed Philip Tseng to its Board of Directors. This strategic move aims to further strengthen the company's leadership team and drive future success.
