FS KKR Capital Corp (FSK): Entry into a Material Definitive Agreement
FS KKR Capital Corp (FSK) filed an SEC Form 8-K — Entry into a Material Definitive Agreement. EX-3.1 2 tm2619102d1_ex3-1.htm EXHIBIT 3.1 Exhibit 3.1 Execution Version FS KKR CAPITAL CORP. ARTICLES SUPPLEMENTARY CUMULATIVE CONVERTIBLE PERPETUAL PREFERRED STOCK, SERIES A FS KKR Capital Corp., a Maryland corporation (the “ Corporation ”), having its principal office in Balti
How this was made
The 30-second read
Why it matters
The agreement sets up a preferred series with cumulative dividends and conversion features, including voting rights tied to an as-converted basis and 1940 Act board election mechanics; this can influence leverage, dilution risk, and governance outcomes.
Market read
This is a primary filing that clarifies preferred-stock terms and governance mechanics, but the excerpt does not show the most market-moving economics (issuance size/proceeds, conversion terms, dividend/redemption specifics).
What to watch
Traders should verify the full 8-K exhibits for issuance terms (dividend rate, conversion price/ratio, redemption schedule, and whether proceeds fund specific investments), which could materially change valuation and risk.
Background
FS KKR Capital Corp (FSK) filed an SEC Form 8-K (Item 1.01) with an exhibit describing Articles Supplementary for Cumulative Convertible Perpetual Preferred Stock, Series A.
Ticker impact
FSK filed an 8-K for a material definitive agreement establishing 6,000,000 authorized preferred shares (Series A) with cumulative convertible terms.
Near-term price reaction is likely limited unless the agreement also specifies issuance size, conversion price, or dividend/redemption economics beyond the excerpt.
This is a primary SEC 8-K disclosure, but the provided excerpt is largely charter/governance boilerplate and does not include key deal economics (e.g., issuance proceeds, conversion ratio, dividend rate).
Market effects
Adds detail on preferred-stock structuring and voting mechanics for a business development/closed-end style issuer subject to the 1940 Act.
None indicated.
None indicated.
Counterpoint
Because the excerpt focuses on authorized share classification and voting mechanics, the market may already anticipate this type of preferred structuring; without issuance economics, the incremental impact may be small.
Key entities
- issuerFS KKR Capital Corp
Subject of the 8-K; establishes Cumulative Convertible Perpetual Preferred Stock, Series A terms and related voting mechanics.
- related partyFS/KKR Advisor, LLC
Referenced as investment adviser in the preferred voting/board election framework.
- investorKKR Alternative Assets L.P.
Referenced as beneficial owner threshold for preferred voting mechanics and independent director election provisions.
