FS KKR Capital Corp. Closes $150M Convertible Preferred Stock Issuance
FS KKR Capital Corp. (FSK) announced the closing of its $150 million issuance of Cumulative Convertible Perpetual Preferred Stock, Series A, to KKR Alternative Assets L.P. The company issued 6,000,000 shares at $25.00 per share, with proceeds intended for general corporate purposes, including common stock repurchases or debt repayment. The preferred stock features a 5.00% annual cash dividend (or 7.00% PIK) and an initial conversion price of $18.83 per share. Additionally, FS/KKR Advisor, LLC agreed to waive 50% of its subordinated incentive fee on income for four fiscal quarters, from June 30, 2026, through March 31, 2027.