BlackRock TCP Capital (TCPC) Company Report

BlackRock TCP Capital Corp. (TCPC) is subject to a securities fraud lawsuit, with a deadline of April 6, 2026, for investors to file a lead plaintiff motion. The class period for the lawsuit is between November 6, 2024, and January 23, 2026.
The lawsuit alleges that the company made materially false and/or misleading statements, failing to disclose that investments were not appropriately valued, restructuring efforts were ineffective, and unrealized losses and Net Asset Value (NAV) were understated/overstated.
On February 27, 2025, the company announced that for fiscal year 2024, debt investments on non-accrual status increased by 289%, and NAV fell 22.44% year-over-year to $9.23 per share.
On January 23, 2026, BlackRock TCP disclosed that its NAV per share as of December 31, 2025, was in the range of $7.05 to $7.09, representing a 19% decrease from the prior quarter and a 23.4% decrease from the prior year.

7 hours ago

Press Release

BlackRock TCP Capital Corp. Faces Class Action Lawsuit Over Alleged NAV Overstatements

TCPC

Legal Proceedings

Financial Restatement

Profit Warning

A class action lawsuit has been filed against BlackRock TCP Capital Corp. for investors who purchased securities between November 6, 2024, and January 23, 2026.
The lawsuit alleges that the company's investments were not appropriately valued, leading to understated unrealized losses and an overstated Net Asset Value (NAV).
Significant NAV declines were reported: to $9.23 per share on February 27, 2025, and further to a range of $7.05 to $7.09 per share as of December 31, 2025, disclosed on January 23, 2026. These disclosures led to stock price drops of 9.6% and nearly 13%, respectively.
Investors have until April 6, 2026, to file a lead plaintiff motion.

1 day ago

Press Release

BlackRock TCP Capital Faces Securities Class Action

TCPC

Legal Proceedings

Financial Restatement

Profit Warning

Faruqi & Faruqi, LLP is investigating BlackRock TCP Capital Corp. (TCPC) and has filed a federal securities class action alleging the company made false and/or misleading statements regarding investment valuation, portfolio restructuring, unrealized losses, and Net Asset Value (NAV).
The class period for investors who purchased or acquired securities is between November 6, 2024, and January 23, 2026, with a deadline of April 6, 2026, to seek lead plaintiff status.
The investigation follows disclosures on February 27, 2025, that the company's portfolio significantly weakened in fiscal year 2024, with NAV falling 22.44% year-over-year to $9.23 per share and debt investments on non-accrual status increasing by 289%.
Further disclosures on January 23, 2026, revealed the NAV per share as of December 31, 2025, was in the range of $7.05 to $7.09, a 23.4% decrease from the prior year, resulting in a 12.97% stock price fall.

2 days ago

Press Release

BlackRock TCP Capital Corp. Faces Securities Fraud Lawsuit

TCPC

Legal Proceedings

Financial Restatement

Demand Weakening

A class action lawsuit has been filed against BlackRock TCP Capital Corp. (TCPC) by Glancy Prongay Wolke & Rotter LLP, covering investors who purchased securities between November 6, 2024, and January 23, 2026.
The lawsuit alleges that TCPC made materially false statements and failed to disclose adverse facts regarding the valuation of investments, effectiveness of portfolio restructuring, and overstatement of Net Asset Value (NAV).
The suit highlights significant financial disclosures, including a 289% increase in non-accrual debt investments and a 22.44% year-over-year drop in NAV to $9.23 per share reported on February 27, 2025, for FY 2024.
Subsequent disclosures on January 23, 2026, for FY 2025, revealed a further decline in NAV per share to a range of $7.05 to $7.09 as of December 31, 2025, representing a 23.4% decrease from the prior year.
Investors have 60 days from February 3, 2026, to seek appointment as lead plaintiff in the action.

3 days ago

Press Release

BlackRock TCP Capital Corp. Provides Preliminary Q4 2025 Financial Estimates

TCPC

Earnings

Profit Warning

Guidance Update

BlackRock TCP Capital Corp. (TCPC) preliminarily estimates its net asset value per share as of December 31, 2025, to be between $7.05 and $7.09, an anticipated 19.0% decline from $8.71 as of September 30, 2025, primarily due to issuer-specific developments.
The company's preliminary net investment income per share for the three months ended December 31, 2025, is estimated to be between $0.24 and $0.26, including approximately 10.9% of payment-in-kind (PIK) income.
Debt investments on non-accrual status are estimated to represent approximately 4.0% of the portfolio at fair value and 9.6% at cost as of December 31, 2025, an increase from 3.5% and 7.0%, respectively, as of September 30, 2025.
Net regulatory leverage is estimated at approximately 1.45x as of December 31, 2025, up from 1.20x on September 30, 2025, resulting in an estimated total debt-to-equity leverage ratio of approximately 1.74x.

Jan 23, 2026, 10:01 PM

8-K

BlackRock TCP Capital Reports Mixed Q3 2025 Results

TCPC

Earnings

Guidance Update

New Projects/Investments

BlackRock TCP Capital reported net investment income of $0.32 per share for the third quarter of 2025, exceeding dividend payments, and maintained a stable net asset value of $8.71 per share, though a $0.15 per share NAV hit is anticipated in the fourth quarter due to a write-down.
The company's earnings per share of $0.32 and revenues of $50.52 million for Q3 2025 both missed consensus estimates.
BlackRock TCP Capital improved portfolio diversification and reduced non-accrual loans to 3.5% of the portfolio's fair market value, while maintaining a strong liquidity position with approximately $528 million.
Despite these efforts, the stock trades at a low price-to-earnings ratio of around 6, reflecting market skepticism, with analysts generally rating it as a "hold".

Nov 7, 2025, 1:54 AM

Morningstar

TCPC Reports Q3 2025 Earnings, NAV Unchanged, and Dividend Declared

TCPC

Earnings

Dividends

Share Buyback

BlackRock TCP Capital Corp. reported adjusted net investment income of $0.30 per share for Q3 2025, with its Net Asset Value (NAV) remaining unchanged at $8.71.
Non-accrual investments improved to 3.5% of the portfolio at fair market value as of September 30, 2025, down from 5.6% at the end of 2024.
The company expects a $0.15 per share impact on Q4 NAV due to the anticipated full write-down of its Renovo investment, which represented approximately 0.7% of total investments at fair value as of September 30.
TCPC invested $241 million year-to-date in 18 new and 13 existing portfolio companies, with new investments in the third quarter having a weighted average yield of 10.1%.
The board declared a Q3 dividend of $0.25 per share payable on December 31, 2025, and repurchased over 25,000 shares during Q3, with an additional 170,000 shares bought after quarter-end.

Nov 6, 2025, 5:00 PM

Transcript

TCPC Announces Q3 2025 Results

TCPC

Earnings

Dividends

TCPC reported adjusted net investment income per share of $0.30 and earnings per share of $0.29 for Q3 2025.
The company maintained a Net Asset Value (NAV) of $8.71 per share as of September 30, 2025.
The portfolio's loans on non-accrual declined to 3.5% of fair value in Q3 2025, down from a peak of 5.6% in Q4 2024, with 83.0% in first lien and 94.2% in floating rate debt.
TCPC declared a regular dividend of $0.25 per share and a special dividend of $0.04 per share for Q3 2025, with regular dividend coverage of 120%.

Nov 6, 2025, 5:00 PM

Presentation

BlackRock TCP Capital Corp. Announces Q3 2025 Financial Results and Q4 Dividend

TCPC

Earnings

Dividends

Share Buyback

BlackRock TCP Capital Corp. reported net investment income of $0.32 per share for the third quarter ended September 30, 2025.
The company declared a fourth quarter dividend of $0.25 per share, payable on December 31, 2025, to stockholders of record as of December 17, 2025.
Net asset value per share was $8.71 as of September 30, 2025, remaining unchanged from June 30, 2025.
Debt investments on non-accrual status decreased to 3.5% of the portfolio at fair value and 7.0% at cost as of September 30, 2025, compared to 3.7% at fair value and 10.4% at cost as of June 30, 2025.
From October 1, 2025, through November 5, 2025, the company repurchased 169,964 shares at a weighted average price of $5.80 per share, for a total cost of $977,677.