BlackRock. Forward-Looking Statements This Presentation is not, and under no circumstances is it to be construed as, a prospectus or an advertisement and this Presentation is not, and under no circumstances is it to be construed as, an offer to sell or a solicitation of an offer to purchase any securities in BKCC, TCPC or in any fund or other investment vehicle managed by BlackRock or any of its affiliates. BKCC and TCPC and their respective directors, certain of their respective executive officers and cert ...

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Yes. Hi Melissa. So the -- as we mentioned in the past, there are two chief sources of potential recovery on our remaining investment. One of them is a first-loss note held by Gordon Brothers Finance Company, which refers to the portfolio that it sold to Callodine, and the other is a profit participation note also in Callodine that the GBFC hold. This specific $0.5 million payment that we received was related to a payment from the profit participation note. And this note entitles GBFC to a share of the purc ...

(3) | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------------|---------------------------------------------------------------------------------------------------------------|-----------------|-------------|-------|--------------------------------|-------|-------------------------|-------|-------------| | Level \n1 | Basis for Determining Fair Value \nQuoted prices in active markets for identical assets | Bank Debt \n$ | (1) \n— | $ | Other \nCorporate (2) Debt \n— | $ | Equity Securities ...

Financial Data and Key Metrics Changes - The net investment income (NII) increased by 9.5% sequentially compared to the prior quarter, driven by higher LIBOR and SOFR rates [30] - NII covered the $0.10 dividend by 122%, up from 112% in the previous quarter, marking the third consecutive quarter of full dividend coverage [34] - Gross investment income for the first quarter was $18.8 million, a 7% increase from the prior quarter and a 54% increase from the first quarter of 2022 [41] - The weighted average portfolio yield increased to 12.4%, up from 11.9% in the previous quarter [50][65] Business Line Data and Key Metrics Changes - Approximately 26% of investment dollars went into existing relationships, with new portfolio company investments primarily in first lien loans [38] - The company added eight new portfolio companies, increasing the total to 121, compared to 116 at the end of 2020 [35] - First lien investments now comprise 82% of the portfolio, a significant increase from 50% at the end of 2020 [51] Market Data and Key Metrics Changes - The company noted that while the US job market remains resilient, higher inflation and interest rates could lead to slower economic growth or contraction [36] - The portfolio had two non-accrual investments representing 2.7% of total fair value, down from 4.4% a year ago [42] Company Strategy and Development Direction - The strategy focuses on diversifying the portfolio to create NAV stability and predictable net investment income [13] - The company aims to maintain a lower risk profile by primarily investing in first lien loans, especially in light of potential recession risks [38] - The management emphasized the importance of being selective in investment opportunities while also leveraging existing portfolio companies for deployment [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the portfolio's resilience, noting no new non-accruals in the first quarter and proactive engagement with portfolio companies [46][52] - The company is well-positioned to withstand economic downturns due to the diversified nature of its portfolio and high-quality ownership support [36][40] - Management highlighted ongoing opportunities for investment despite a slow overall M&A market, indicating a steady flow of opportunities [27][39] Other Important Information - The company recorded total net unrealized gains of $0.3 million in the first quarter, alongside realized losses of $0.6 million from exiting non-core positions [58] - Total available liquidity for deployment and general operating use was approximately $98 million [59] Q&A Session Summary Question: Update on share repurchase activity - Management stated that share repurchases remain a tool for delivering shareholder value, with assessments made quarterly, but variability is expected [5] Question: Current or forward-looking fixed charge coverage - Management indicated that interest coverage ratios are generally required to be strong, but have contracted due to rising rates, with median ratios now in the high ones or low twos [10][11] Question: Performance of remaining securities related to Gordon Brothers - Management confirmed ongoing performance assessments and potential for future recoveries, though timing remains uncertain [17] Question: Activity in new portfolio companies versus existing ones - Management noted that while diversification is a goal, they remain disciplined in maintaining tight lending standards [22][68]

For the quarterly period ended March 31, 2023 For the transition period from to Delaware 20-2725151 (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identification No.) Titleofeachclass CommonStock,$0.001parvalue BLACKROCK CAPITAL INVESTMENT CORPORATION Table of Contents | --- | --- | |------------|--------------------------------------------------------------------------------------------------------------------------------------------| | | | | Item 1. | CONSOLIDATED FINANCIA ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from to _________ Commission file number 814-00712 BLACKROCK CAPITAL INVESTMENT CORPORATION (Exact Name of Registrant as Specified in Its Charter) Delaware 20-2725151 ( ...

Investment Portfolio - As of September 30, 2022, the investment portfolio at fair value was $574.6 million, with net assets of $332.0 million and indebtedness of $262.0 million[198]. - The company invested approximately $78.0 million during the three months ended September 30, 2022, with 99.9% in senior secured loans and 0.1% in equity securities[199]. - The portfolio consisted of 111 companies, with an average investment of approximately $5.8 million per company at amortized cost[200]. - The company’s largest portfolio company investment at fair value was approximately $24.9 million, comprising about 15% of the total portfolio[200]. - As of September 30, 2022, the company had unfunded commitments of $70.9 million across 47 portfolio companies, compared to $49.4 million across 35 portfolio companies as of December 31, 2021[240]. Financial Performance - The net investment income for the same period was $7.7 million, resulting in a net investment income per share of $0.10[198]. - For the three months ended September 30, 2022, total investment income increased by $3.5 million, or 28.1%, compared to the same period in 2021, reaching $16.0 million[209]. - Net investment income for the three months ended September 30, 2022 was $7.7 million, reflecting an increase of approximately $2.8 million, or 56.1%, from $4.9 million in 2021[215]. - Total investment income for the nine months ended September 30, 2022 increased by $6.8 million, or 20.3%, compared to the same period in 2021, primarily due to a 21.8% higher average balance in senior secured loans[220]. - Net investment income was $21.3 million for the nine months ended September 30, 2022, representing an increase of approximately $7.3 million, or 52.6%, from $13.9 million in the same period in 2021[226]. Dividends and Returns - The company declared dividends of $0.10 per share during the three months ended September 30, 2022[198]. - The company declared a dividend of $0.10 per share on October 28, 2022, payable on January 6, 2023[255]. - The total return based on net asset value for the three months ended September 30, 2022 was 2.5%, compared to 3.9% for the same period in 2021[204]. - The total return based on market price for the three months ended September 30, 2022 was (5.1)%, a decline from 0.5% in 2021[204]. Expenses and Liabilities - Total expenses, net of incentive fee waiver, increased by $0.8 million, or 10.0%, for the three months ended September 30, 2022, totaling $8.36 million[210]. - Total expenses, net of incentive fee waiver, decreased by $0.5 million, or 2.6%, for the nine months ended September 30, 2022, primarily due to the reversal of previously accrued incentive fees on capital gains[222]. - Management fees increased by approximately $0.5 million, or 8.2%, for the nine months ended September 30, 2022, due to an increase in total assets on which management fees are calculated[225]. - The balance of accrued Incentive Fees on capital gains was zero as of September 30, 2022, down from $1.5 million as of December 31, 2021[223]. Market Risks and Interest Rates - The company is subject to financial market risks, with 99% of its yielding debt investments bearing interest based on floating rates as of September 30, 2022[258]. - 91% of the company's yielding floating rate debt investments contained an interest rate floor[258]. - The company projects an increase in net investment income of $13.3 million with a 400 basis point rise in interest rates, translating to an increase of $0.18 per share[261]. - A 300 basis point increase in interest rates is expected to yield $10.0 million in net investment income, or $0.14 per share[261]. - With a 200 basis point increase, net investment income is projected to be $6.7 million, equating to $0.09 per share[261]. - A 100 basis point increase would result in $3.3 million in net investment income, or $0.05 per share[261]. - Conversely, a decrease of 100 basis points is anticipated to lead to a decline of $3.1 million in net investment income, resulting in a loss of $0.04 per share[261]. - The company acknowledges that hedging activities may limit its ability to benefit from favorable interest rates[259]. - The projected amounts do not account for the impact of interest rate changes on the company's Interest Rate Swap[259]. Operational Cash Flow - Net cash used in operating activities for the nine months ended September 30, 2022 was $(20.1) million, primarily consisting of $(29.8) million in net purchases of investments[238]. - Net cash provided by financing activities during the nine months ended September 30, 2022 was $37.3 million, with sources including $116.0 million in net debt borrowings under the Credit Facility[239]. - The company has sufficient liquidity to meet all obligations and fund unfunded commitments as needed[241]. Investment Ratings - The weighted average yield of the total portfolio at fair value was 10.5% as of September 30, 2022, compared to 8.5% at December 31, 2021[203]. - The weighted average investment rating improved to 1.28 as of September 30, 2022, compared to 1.21 at December 31, 2021[206]. - The distribution of investment ratings as of September 30, 2022 included $449.2 million in Grade 1 investments, down from $474.5 million at December 31, 2021[206]. - Net realized gain for the three months ended September 30, 2022 was $0.4 million, significantly lower than the $22.6 million realized in the same period of 2021[216]. - The change in net unrealized depreciation for the three months ended September 30, 2022 was $(2.4) million, compared to $(15.9) million in 2021[217]. - The change in net unrealized depreciation for the nine months ended September 30, 2022 was an increase of $(13.9) million, compared to a decrease of $43.0 million in the same period in 2021[228]. - Net realized gain for the nine months ended September 30, 2022 was $1.2 million, down from $2.9 million in the same period in 2021[227].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from to Commission file number 814-00712 BLACKROCK CAPITAL INVESTMENT CORPORATION (Exact Name of Registrant as Specified in Its Charter) | --- | --- | --- | --- | - ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 | --- | --- | |----------------------------------------------------------------|--------------------------------------| | | | | Delaware | 20-2725151 | | (State or Other Jurisdiction of Incorporation or Organization) | (I.R.S. Employer Identification No.) | FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PUR ...