BlackRock TCP Capital Corp 2025年季度报告

FORM 10-Q ☒Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934For the Quarterly Period Ended March 31, 2025☐Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934For the Transition Period From ____ to ____ Commission File Number: 814-00899 BLACKROCK TCP CAPITAL CORP. (Exact Name of Registrant as Specified in its Charter) (IRS Employer Identification No.) (310) 566-1000(Registrant’s telephone number, including area code)Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities ExchangeAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has beensubject to such filing requirements for the past 90 days: Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant wasrequired to submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,”and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer☒Accelerated filer☐Non-accelerated filer☐Smaller reporting company☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒ The number of shares of the Registrant’s common stock, $0.001 par value, outstanding as of May 8, 2025 was 85,037,797. BLACKROCK TCP CAPITAL CORP. FORM 10-Q FOR THE THREE MONTHS ENDED MARCH 31, 2025 TABLE OF CONTENTS PartI.Financial Information Item1.Financial StatementsConsolidated Statements of Assets and Liabilities as of March 31, 2025 (unaudited) and December 31,20242Consolidated Statements of Operations for the three months ended March 31, 2025 (unaudited) andMarch 31, 2024 (unaudited)3Consolidated Statements of Changes in Net Assets for the three months ended March 31, 2025(unaudited) and March 31, 2024 (unaudited)4Consolidated Statements of Cash Flows for the three months ended March 31, 2025 (unaudited) andMarch 31, 2024 (unaudited)5Consolidated Schedule of Investments as of March 31, 2025 (unaudited) and December 31, 20247Notes to Consolidated Financial Statements (unaudited)32Consolidated Schedule of Changes in Investments in Affiliates for the three months ended March 31,2025 (unaudited) and year ended December 31, 202459Consolidated Schedule of Restricted Securities of Unaffiliated Issuers as of March 31, 2025(unaudited) and December 31, 202463Item2.Management’s Discussion and Analysis of Financial Condition and Results of Operations65Item3.Quantitative and Qualitative Disclosures About Market Risk81Item4.Controls and Procedures82PartII.Other Information83Item1.Legal Proceedings83 Item1A.Risk Factors Item2.Unregistered Sales of Equity Securities and Use of Proceeds85Item3.Defaults upon Senior Securities85Item4.Mine Safety Disclosures85Item5.Other Information85Item6.Exhibits87 BlackRock TCP Capital Corp. Consolidated Statements of Assets and Liabilities BlackRock TCP Capital Corp. Consolidated Statements of Operations (Unaudited) See accompanying notes to the consolidated financial statements. Table of Contents BlackRock TCP Capital Corp. Consolidated Statements of Changes in Net Assets (Unaudited) BlackRock TCP Capital Corp. Consolidated Statements of Cash Flows (Unaudited) (1)Adjusted for assets acquired and liabilities assumed as a result of the Merger (as defined in Note 1 “Organization and Nature ofOperations”), as applicable for the three months ended March 31, 2024.(2)Excludes $586,983,708 of cost of investments acquired in connection with the Merger for the three months ended March 31, 2024.(3)Includes payment of dividends payable of $7,257,191 assumed in the Merger declared on March 4, 2024 by the BCIC Board ofDirectors for the benefit of former BCIC shareholders of record as of March 15, 2024.(4)On March 18, 2024, in connection with the Merger, the Company acquired net assets in exchange for shares issued of theCompany's common stock with a market value of $280,464,610 plus $2,366,408 in merger costs capitalized into the purchase price.(5)Investments acquired were recorded at fair value at the date of the acquisition, which is also the Company