Franklin BSP Completes Merger and Asset Acquisition

Franklin BSP Lending Corporation (BDVC) has released an update to notify the public and investors about its asset transaction finalization.

On January 24, 2024, FBCC finalized the acquisition of the Company, with two sequential mergers resulting in the Company’s absorption into FBCC and ceasing to exist as a separate entity. Each share of the Company’s common stock was converted into 0.4647 shares of FBCC’s common stock, leading to an issuance of around 110 million new shares to the former stockholders of the Company. The details of the Merger Agreement were fully disclosed in a previous report by the Company.

For further insights into BDVC financials, check out TipRanks’ Financials page.