FS KKR Capital Corp. (NYSE: FSK), a leading publicly traded business development company focused on providing customized credit solutions to private middle market U.S. companies, reported that its previously announced reverse stock split became effective following the close of trading on June 15, 2020. As a result, the Company's common stock will commence trading on the New York Stock Exchange (NYSE) on a split-basis on June 16, 2020. As a result of the reverse stock split, the share count will be reduced on a 4 : 1 basis, such that each shareholder will receive 1 share for every 4 shares owned. The Company also filed a separate Articles of Amendment to its charter to provide that there will be no change in the par value of $0.001 per share as a result of the reverse stock split.

There is not expected to be any direct economic consequence to the Company or its shareholders from the reverse stock split. The reverse stock split will not change the authorized number of shares of the Company's common stock. The reverse stock split will affect all shareholders uniformly and will not alter any shareholder's percentage interest in the Company's equity, except to the extent that the reverse stock split would result in some shareholders owning a fractional share. In that regard, no fractional shares will be issued in connection with the reverse split. Shareholders of record who would otherwise be entitled to receive a fractional share will instead receive a cash payment based on the closing price of the Company's common stock as reported on the NYSE today.

As previously disclosed, the Company's board of directors declared a regular quarterly cash distribution of $0.15 per share, which will be paid on or about July 2, 2020 to shareholders of record as of the close of business on June 17, 2020. As a result of the reverse stock split, the cash distribution to be paid on or about July 2, 2020 will instead be $0.60 per share (i.e., the aggregate amount that would have been payable on four shares prior to the reverse stock split).

The Depository Trust Company is acting as the exchange agent and DST Systems, Inc. is acting as the transfer agent for the reverse stock split. Shareholders holding their shares in book-entry form or in brokerage accounts need not take any action in connection with the reverse stock split. Beneficial holders are encouraged to contact their bank, broker or custodian with any procedural questions.

About FS KKR Capital Corp.

FS KKR Capital Corp. (NYSE: FSK) is a leading publicly traded business development company (BDC) focused on providing customized credit solutions to private middle market U.S. companies. FSK seeks to invest primarily in the senior secured debt and, to a lesser extent, the subordinated debt of private middle market companies. FSK is advised by FS/KKR Advisor, LLC. For more information, please visit www.fskkrcapitalcorp.com.

About FS/KKR Advisor, LLC

FS/KKR Advisor, LLC is a partnership between FS Investments and KKR Credit that serves as the investment adviser to BDCs with approximately $15.6 billion in assets under management as of March 31, 2020. The BDCs managed by FS/KKR Advisor, LLC are FS KKR Capital Corp. and FS KKR Capital Corp. II.