Franklin Templeton Affiliate LMP Capital and Income Fund Completes Rights Offering
07.14.25
This is only gets display when printing
Simpson Thacher represented LMP Capital and Income Fund Inc. (the “Fund”) in connection with a transferable rights offering to subscribe for shares of common stock. The Fund is a closed-end management investment company registered under the 1940 Act. The Fund’s shares of common stock trade on the NYSE under the ticker symbol “SCD” and the rights were listed and traded on the NYSE during the subscription period for the rights offering. Rights holders were entitled to purchase shares of common stock by submitting three rights and the subscription price per share for each share purchased. The rights offering was oversubscribed, resulting in anticipated gross proceeds to the Fund of approximately $87 million.
Franklin Templeton Fund Adviser, LLC is the Fund’s investment manager. The Fund is sub-advised by ClearBridge Investments, LLC, which oversees the Fund’s allocation between equity and fixed income securities and is responsible for the Fund’s equity investments, and Western Asset Management Company, LLC and its affiliates, which is responsible for the Fund’s fixed income investments. The investment manager and the sub-advisers are indirect wholly-owned subsidiaries of Franklin Resources, Inc.
The Simpson Thacher team included Ryan Brizek, David Blass, Debbie Sutter, Andy Madore, Sophie Sujin Kim and Yuhang Summer Liu (Registered Funds); and Jonathan Cantor and Michael Slomovics (Tax).