Franklin BSP Real Estate Debt Raises $9.2 Million in October Private Share Sale

Class G stock accounted for nearly $7 million of the raise, and three of the four classes sold would convert into Class I shares if the company lists or liquidates.

October 6, 2026

Franklin BSP Real Estate Debt, Inc. raised $9,160,750 on October 1, 2026, selling roughly 369,471 shares of common stock through its continuous private offering. The closing drew capital into four share classes, with Class G stock accounting for most of the total.

How the Sale Broke Down

Each class was sold at its own per-share price:

• Class G: 280,985.06 shares at $24.77, for $6,960,000
• Class G-S: 64,593.49 shares at $24.60, for $1,610,750, a total that includes $21,750 in upfront selling commissions and placement fees
• Class I: 19,878.30 shares at $24.65, for $490,000
• Class E: 4,014.45 shares at $24.91, for $100,000

The shares were offered under the Section 4(a)(2) and Regulation D exemptions from Securities Act registration.

A Smaller Round Than June

The October total is well below the roughly $24 million the company raised in its June 1 sale of nearly one million shares. That earlier closing was spread across Class G, Class G-D and Class G-S stock and priced Class G shares at $24.92. The October round added Class E and Class I buyers, while no Class G-D shares were sold.

Conversion Terms

Class G, Class G-S and Class E shares convert automatically into Class I stock of equivalent net asset value upon or immediately before certain events, including a liquidation, dissolution or winding up of the company, or a listing of its shares on a national securities exchange.

The company may also convert a holder's Class G shares into an equal number of Class F shares, and Class G-S shares into Class F-S shares. Those optional conversions are capped so that no stockholder would own more than 4.99% of the combined outstanding Class F, Class F-D and Class F-S stock afterward. For Class E, only the automatic conversion is described.

Franklin BSP Real Estate Debt is an emerging growth company with no securities listed on an exchange. The disclosure was signed by Jerome S. Baglien, the company's president, chief financial officer and chief operating officer.