FS KKR Capital Corp 8-K

What Happened FS KKR Capital Corp filed an 8-K (May 12, 2026) disclosing that it entered into a Purchase Agreement dated May 10, 2026 with KKR Alternative Assets L.P. Under the agreement, KKR has agreed to purchase $150,000,000 of newly issued cumulative convertible perpetual preferred stock (a series of the Company’s preferred stock). The closing is conditioned on the expiration of a concurrently announced third‑party tender offer for up to $150,000,000 of the Company’s common stock and other customary closing conditions, including the expiration or termination of the Hart‑Scott‑Rodino waiting period.

Key Details

• Purchase Agreement dated May 10, 2026 with KKR Alternative Assets L.P. for $150,000,000 of Convertible Preferred Stock.
• Securities are cumulative convertible perpetual preferred stock, issued as a series of the Company’s preferred stock (par value $0.001).
• Closing expected on the 11th business day following expiration of the Tender Offer; also subject to HSR clearance and customary conditions.
• The Convertible Preferred Stock was offered in reliance on Section 4(a)(2) of the Securities Act and is not registered for public resale.

Why It Matters This transaction, if completed, would provide the company with $150 million of capital through the sale of preferred stock. The convertible nature of the securities means they could affect the company’s capital structure and potentially dilute common shareholders if converted. The deal is linked to a separate tender offer for common stock and requires antitrust (HSR) clearance, so completion is not immediate and could be delayed or conditioned. The securities are unregistered, which limits their resale unless an exemption or registration applies.