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<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">CURRENT REPORT<br/>
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</p>

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<span style="font-weight: normal">(Former name or former address, if changed since last report)</span></p>

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<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">Securities registered pursuant to Section 12(b) of the Act:</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">Indicate by check mark whether the registrant is an emerging growth company
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1934 (&#167; 240.12b-2 of this chapter).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

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to Section 13(a) of the Exchange Act. &#9744;</p>

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<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt">Item 1.01. Entry into a Material Definitive Agreement.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">On May 30, 2024, BlackRock TCP Capital Corp. (the &#8220;<span style="font-weight: normal">Company&#8221;</span>)
completed its offering of $325,000,000 in aggregate principal amount of the Company&#8217;s 6.95% Notes due 2029 (the &#8220;<span style="font-weight: normal">Notes</span>&#8221;)
pursuant to the Company&#8217;s effective shelf registration statement on Form N-2 (File No. 333-267593) previously filed with the Securities
and Exchange Commission on September 23, 2022. <span style="background-color: white">The net proceeds to the Company were approximately
$315.9 million, after deducting fees and expenses.</span> The Company intends to use the net proceeds of the offering of the Notes to
repay the Company&#8217;s outstanding 3.900% Notes due 2024 at or before maturity and for the temporary repayment of the Company&#8217;s
other indebtedness. The Company may also invest the net proceeds of the offering of the Notes in accordance with its investment objective
and for other general corporate purposes, including the payment of operating expenses.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">The Notes were issued by the Company pursuant to the
Indenture, dated as of August 11, 2017 (the &#8220;Base Indenture&#8221;), between the Company and U.S. Bank Trust Company, National
Association (as successor in interest to U.S. Bank National Association) (the &#8220;<span style="font-weight: normal">Trustee</span>&#8221;),
as supplemented by the Fourth Supplemental Indenture, dated as of May 30, 2024 (the &#8220;Fourth Supplemental Indenture&#8221; and,
together with the Base Indenture, the &#8220;Indenture&#8221;), between the Company and the Trustee.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">The Notes will mature on May 30, 2029 and may be redeemed
in whole or in part at the Company&#8217;s option at any time at par plus a &#8220;make-whole&#8221; premium, provided that the Notes
may be redeemed at par one month prior to their maturity. The Notes bear interest at a rate of 6.95% per year payable semi-annually on
May 30 and November 30 of each year, commencing on November 30, 2024. <span style="background-color: white">The Notes are general unsecured
obligations of the Company that rank senior in right of payment to all of the Company&#8217;s existing and future indebtedness that is
expressly subordinated in right of payment to the Notes, are <i>pari passu</i>, or equal in right of payment, with all existing and future
unsecured unsubordinated indebtedness issued by the Company, are effectively junior to any of the Company&#8217;s secured indebtedness
(including unsecured indebtedness that the Company later secures) to the extent of the value of the assets securing such indebtedness
and are structurally subordinated to all existing and future indebtedness incurred by the Company&#8217;s subsidiaries.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">The Indenture contains certain covenants, including
covenants requiring the Company to comply with the asset coverage requirements of Section 18(a)(1)(A) as modified by Section 61(a)(1)
and (2) of the Investment Company Act of 1940, as amended, whether or not it is subject to those requirements, and to provide financial
information to the holders of the Notes and the Trustee if the Company is no longer subject to the reporting requirements under the Securities
Exchange Act of 1934, as amended. These covenants are subject to important limitations and exceptions that are described in the Indenture.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">In addition, on the occurrence of a &#8220;change of
control repurchase event,&#8221; as defined in the Indenture, the Company will generally be required to make an offer to purchase the
outstanding Notes at a price equal to 100% of the principal amount of such Notes plus accrued and unpaid interest to, but excluding,
the repurchase date.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">The foregoing descriptions of the Indenture and the
Notes do not purport to be complete and are qualified in their entirety by reference to the full text of the Base Indenture, the Fourth
Supplemental Indenture and the Notes, respectively, each filed or incorporated by reference as exhibits hereto and incorporated by reference
herein to this Item 1.01. A copy of the opinion of Skadden, Arps, Slate, Meagher &amp; Flom LLP relating to the legality of the Notes
is filed as Exhibit 5.1 to this <span style="background-color: white">Current Report on Form 8-K</span>.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">&#160;</p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt">Item 2.03. Creation of a Direct Financial Obligation
or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.</p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">The information set forth under Item 1.01 above is
incorporated into this Item 2.03 by reference.</p>


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<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt">Item 9.01. Financial Statements and Exhibits.</p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt">&#160;</p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt">(d) <span style="text-decoration: underline">Exhibits</span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt">&#160;</p>

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    <td style="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; width: 95%"><a href="btcpcc-html7996_ex9941.htm">Fourth Supplemental Indenture, dated as of May 30, 2024, between BlackRock TCP Capital Corp. and U.S. Bank Trust Company, National Association, as the Trustee.</a></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&#160;</td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><a href="btcpcc-html7996_ex9941.htm#exhibit">Form of Global Note of 6.95% Notes due 2029 (incorporated by reference to Exhibit 4.1 hereto).</a></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&#160;</td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><a href="https://www.sec.gov/Archives/edgar/data/1370755/000156761917001674/s001797x9_exd-1.htm">Indenture, dated as of August 11, 2017, between BlackRock TCP Capital Corp. and U.S. Bank Trust Company, National Association (as successor in interest to U.S. Bank National Association), as the Trustee (incorporated by reference to Exhibit (d)(1) to BlackRock TCP Capital Corp.&#8217;s Post-Effective Amendment No. 1 to its Registration Statement on Form N-2 (File No. 333-216716), filed on August 11, 2017).</a></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&#160;</td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><a href="btcpcc-html7996_ex9951.htm">Opinion of Skadden, Arps, Slate, Meagher &amp; Flom LLP.</a></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&#160;</td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">23.1</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><a href="btcpcc-html7996_ex9951.htm#exhibit5">Consent of Skadden, Arps, Slate, Meagher &amp; Flom LLP (included in Exhibit 5.1).</a></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">&#160;</td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt">104</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><a href="#coverpage">Cover Page Interactive Date File (embedded within the Inline XBRL document).</a></td></tr>
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<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SIGNATURES</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 36pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">Date: May 30, 2024</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

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    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"><b>BLACKROCK TCP CAPITAL CORP.</b></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; width: 5%">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 35%">&#160;</td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    <td style="font: 10pt Times New Roman, Times, Serif">By:</td>
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    Erik L. Cuellar</td></tr>
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
May 30, 2024
BLACKROCK TCP CAPITAL CORP.
(Exact name of registrant
as specified in its charter)
Delaware
814-00899
56-2594706
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)
2951
    28th Street
,
Suite 1000
90405
Santa Monica
,
California
(Zip Code)
(Address of Principal
    Executive Offices)
Registrant's telephone number, including area
code
(
310
)
566-1000
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities
    Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
    Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
    Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title
    of each class
Trading
    Symbol(s)
Name
    of each exchange on which registered
Common stock,
    $0.001 par value per share
TCPC
NASDAQ
Global
    Select Market
Indicate by check mark whether the registrant is an emerging growth company
as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of
1934 (§ 240.12b-2 of this chapter).
☐
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 complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act. ☐
Item 1.01. Entry into a Material Definitive Agreement.
On May 30, 2024, BlackRock TCP Capital Corp. (the "
Company"
)
completed its offering of $325,000,000 in aggregate principal amount of the Company's 6.95% Notes due 2029 (the "
Notes
")
pursuant to the Company's effective shelf registration statement on Form N-2 (File No. 333-267593) previously filed with the Securities
and Exchange Commission on September 23, 2022.
The net proceeds to the Company were approximately
$315.9 million, after deducting fees and expenses.
The Company intends to use the net proceeds of the offering of the Notes to
repay the Company's outstanding 3.900% Notes due 2024 at or before maturity and for the temporary repayment of the Company's
other indebtedness. The Company may also invest the net proceeds of the offering of the Notes in accordance with its investment objective
and for other general corporate purposes, including the payment of operating expenses.
The Notes were issued by the Company pursuant to the
Indenture, dated as of August 11, 2017 (the "Base Indenture"), between the Company and U.S. Bank Trust Company, National
Association (as successor in interest to U.S. Bank National Association) (the "
Trustee
"),
as supplemented by the Fourth Supplemental Indenture, dated as of May 30, 2024 (the "Fourth Supplemental Indenture" and,
together with the Base Indenture, the "Indenture"), between the Company and the Trustee.
The Notes will mature on May 30, 2029 and may be redeemed
in whole or in part at the Company's option at any time at par plus a "make-whole" premium, provided that the Notes
may be redeemed at par one month prior to their maturity. The Notes bear interest at a rate of 6.95% per year payable semi-annually on
May 30 and November 30 of each year, commencing on November 30, 2024.
The Notes are general unsecured
obligations of the Company that rank senior in right of payment to all of the Company's existing and future indebtedness that is
expressly subordinated in right of payment to the Notes, are
pari passu
, or equal in right of payment, with all existing and future
unsecured unsubordinated indebtedness issued by the Company, are effectively junior to any of the Company's secured indebtedness
(including unsecured indebtedness that the Company later secures) to the extent of the value of the assets securing such indebtedness
and are structurally subordinated to all existing and future indebtedness incurred by the Company's subsidiaries.
The Indenture contains certain covenants, including
covenants requiring the Company to comply with the asset coverage requirements of Section 18(a)(1)(A) as modified by Section 61(a)(1)
and (2) of the Investment Company Act of 1940, as amended, whether or not it is subject to those requirements, and to provide financial
information to the holders of the Notes and the Trustee if the Company is no longer subject to the reporting requirements under the Securities
Exchange Act of 1934, as amended. These covenants are subject to important limitations and exceptions that are described in the Indenture.
In addition, on the occurrence of a "change of
control repurchase event," as defined in the Indenture, the Company will generally be required to make an offer to purchase the
outstanding Notes at a price equal to 100% of the principal amount of such Notes plus accrued and unpaid interest to, but excluding,
the repurchase date.
The foregoing descriptions of the Indenture and the
Notes do not purport to be complete and are qualified in their entirety by reference to the full text of the Base Indenture, the Fourth
Supplemental Indenture and the Notes, respectively, each filed or incorporated by reference as exhibits hereto and incorporated by reference
herein to this Item 1.01. A copy of the opinion of Skadden, Arps, Slate, Meagher & Flom LLP relating to the legality of the Notes
is filed as Exhibit 5.1 to this
Current Report on Form 8-K
.
Item 2.03. Creation of a Direct Financial Obligation
or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth under Item 1.01 above is
incorporated into this Item 2.03 by reference.
2
Item 9.01. Financial Statements and Exhibits.
(d)
Exhibits
4.1
Fourth Supplemental Indenture, dated as of May 30, 2024, between BlackRock TCP Capital Corp. and U.S. Bank Trust Company, National Association, as the Trustee.
4.2
Form of Global Note of 6.95% Notes due 2029 (incorporated by reference to Exhibit 4.1 hereto).
4.3
Indenture, dated as of August 11, 2017, between BlackRock TCP Capital Corp. and U.S. Bank Trust Company, National Association (as successor in interest to U.S. Bank National Association), as the Trustee (incorporated by reference to Exhibit (d)(1) to BlackRock TCP Capital Corp.'s Post-Effective Amendment No. 1 to its Registration Statement on Form N-2 (File No. 333-216716), filed on August 11, 2017).
5.1
Opinion of Skadden, Arps, Slate, Meagher & Flom LLP.
23.1
Consent of Skadden, Arps, Slate, Meagher & Flom LLP (included in Exhibit 5.1).
104
Cover Page Interactive Date File (embedded within the Inline XBRL document).
3
SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: May 30, 2024
BLACKROCK TCP CAPITAL CORP.
By:
/s/
    Erik L. Cuellar
Name:
Erik L. Cuellar
Title:
Chief Financial Officer
4