TPI Composites files for Chapter 11 bankruptcy, plans delisting from Nasdaq
BlackRock TCP Capital Corp . (NASDAQ:TCPC), a business development company with a market capitalization of $662 million and notable 30.6% dividend yield, announced Tuesday that Ariel Hazzard, its Chief Compliance Officer, has informed the Board of Directors of her intention to resign from her position effective July 31, 2025. According to the company’s statement, Hazzard is leaving to pursue other business opportunities outside of BlackRock, Inc.
The company reported that Hazzard’s resignation is not the result of any disagreement with BlackRock TCP Capital Corp. or BlackRock, Inc., nor is it related to compliance matters, Board reporting, or any other issues relevant to the company. Hazzard will continue in her current role and remain an employee of BlackRock, Inc. until July 31 to facilitate a smooth transition of her responsibilities.
BlackRock TCP Capital Corp. is incorporated in Delaware and trades its common stock on the NASDAQ Global Select Market under the symbol TCPC.
This information is based on a statement released in a Form 8-K filing with the Securities and Exchange Commission.
In other recent news, BlackRock TCP Capital Corp. reported first-quarter earnings that exceeded analyst expectations, with an earnings per share (EPS) of $0.38, surpassing the forecast of $0.334. However, the company recorded revenue of $55.89 million, falling short of the anticipated $63.94 million. The company also announced a second-quarter dividend of $0.25 and a special dividend of $0.04, indicating confidence in its financial health. BlackRock TCP Capital Corp. has made significant changes to its credit facility to enable the acquisition of HPS Group Adviser Holdings L.P. and HPS Partners Investment Holdings LLC by BlackRock Inc (NYSE:BLK). This amendment involves various lenders and Citibank, N.A. as the administrative agent.
Additionally, BlackRock TCP Capital Corp. is pursuing a second SBIC license to further its strategic growth initiatives. The company continues to focus on middle-market growth companies, even as economic uncertainties persist. In terms of portfolio management, BlackRock TCP Capital Corp. has been actively working to resolve nonaccrual positions, reducing the number of such companies significantly. The company also successfully exited nonaccrual positions in companies like Securis and McAfee, which contributed to its financial performance this quarter.
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