Good day, everyone, and welcome to the Franklin BSP Capital annual meeting. I'll turn the call over to your host, CEO Richard Byrne. Please go ahead.
Thank you very much. Good morning, everyone. I am Richard Byrne, Chief Executive Officer, Chairman of the Board of Directors, and I'm a Director of Franklin BSP Capital Corporation. As the presiding officer, I hereby call to order and welcome you to the 2026 annual meeting of stockholders of Franklin BSP Capital Corp. At this time, I would like to introduce Edvina Lila, Secretary of the company, who will lead us through today's meeting. Over to you, Edvina.
Thank you, Rich, and good morning, everyone. A copy of the company's proxy statement, its annual report on Form 10-K for the fiscal year ended December 31st, 2025, and its quarterly report on Form 10-Q for the three months ended March 31st, 2026, are all available on our website. The three proposals for today's annual meeting are as follows. First, to elect Ronald J. Kramer and Leslie D. Michelson as Class III directors, each to serve until the 2029 annual meeting of stockholders and until their successors are duly elected and qualified, to be voted upon by the holders of the outstanding shares of the company's common stock and preferred stock, voting together as a single class.
Second, to authorize the company with the approval of the board, to sell or otherwise issue up to 25% of the company's outstanding common stock at an offering price that is below the company's then-current NAV per share. Third, to consider and act on such matters as may properly come before the annual meeting and any adjournment thereof. The notice of annual meeting of stockholders has been provided to all stockholders entitled to vote at this meeting. I have here an affidavit, sworn and duly signed, stating that the notice has been provided to each stockholder as required by the company's bylaws. A copy of both the notice and the affidavit will be incorporated into the minutes of the annual meeting.
In addition, resolutions were adopted by the board fixing April 7th, 2026, as the record date for determining persons entitled to notice of and to vote at this annual meeting. The company has appointed Chris Woods as a representative of American Election Services, LLC to act as the Inspector of Election. A copy of the inspector's oath of office will be filed with and made part of the minutes of the meeting. Mr. Woods has informed me that we do not have a quorum present today for the conduct of business.
We do not have a quorum and because we believe it is important for as many shares as possible to be represented at this meeting and to be voted on the proposals, the Chairman believes it is appropriate to adjourn this meeting in order to solicit additional votes on the proposals in order for a quorum to be present. Accordingly, this meeting is hereby adjourned to be reconvened virtually on June 16th, 2026, at 11:00 A.M. Eastern Time. Instructions on how to attend, participate in, and vote at the adjourned meeting remain the same as for this meeting. The proxy you have submitted will remain valid for the adjourned meeting. If you wish to change your vote, you may do so by executing another later-dated proxy. You may attend the adjourned meeting and vote at that time.
Thanks, Edvina. I thank you all for your attendance, and we regret any inconvenience that the adjournment has caused you. Ms. Lila, please safeguard the proxy statement, the notice of annual meeting, the proof of mailing of the proxy statement and the notice of annual meeting, and lastly, the oath of office and certificate report of the Inspector of Election and maintain them among the records of the company. The meeting is now adjourned. Thank you, everyone.
That concludes our meeting today. Thank Thank you for joining. You may now disconnect.