<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2020-06-16</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001655050</issuerCik>
        <issuerName>Bain Capital Specialty Finance, Inc.</issuerName>
        <issuerTradingSymbol>BCSF</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001309111</rptOwnerCik>
            <rptOwnerName>BAIN CAPITAL CREDIT MEMBER, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O BAIN CAPITAL CREDIT, LP</rptOwnerStreet1>
            <rptOwnerStreet2>200 CLARENDON STREET</rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02116</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001651587</rptOwnerCik>
            <rptOwnerName>Bain Capital Distressed &amp; Special Situations 2016 (F), L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O BAIN CAPITAL CREDIT, LP</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02116</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2020-06-16</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>952118.00</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>10.22</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>11822432.67</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnotes</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Reflects additional shares of Common Stock acquired by Bain Capital Distressed and Special Situations 2016 (F), L.P. (&quot;F Holdings&quot;) and Bain Capital Credit Holdings (MRF), L.P. (&quot;MRF Holdings&quot;) in connection with the Issuer's rights offering pursuant to the over-subscription privilege.</footnote>
        <footnote id="F2">Following the transactions described herein, shares of Common Stock are directly held by the following entities: (a) 9,914,820.48 by F Holdings, whose general partner is Bain Capital Distressed and Special Situations 2016 Investors (F), L.P. (&quot;F Holdings GP&quot;), and (b) 1,907,612.19 by MRF Holdings and together with F Holdings, the &quot;Funds&quot;), whose general partner is Bain Capital Credit Holdings Investors (MRF), LP (&quot;MRF Holdings GP&quot;).  Bain Capital Credit Member, LLC (&quot;BCCM&quot;) is the general partner of F Holdings GP and MRF Holdings GP.</footnote>
        <footnote id="F3">BCCM may be deemed to share beneficial ownership of all 11,822,432.67 shares of Common Stock held of record by the Funds, but disclaims beneficial ownership of such shares, except to the extent of its respective pecuniary interest therein.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Bain Capital Credit Member, LLC</signatureName>
        <signatureDate>2020-06-17</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Bain Capital Distressed and Special Situations 2016 (F), L.P.</signatureName>
        <signatureDate>2020-06-17</signatureDate>
    </ownerSignature>
</ownershipDocument>
