Triangle Capital Corporation Prices Public Offering of 3.5M Shares at $17.15/Share
Triangle Capital Corporation (NYSE: TCAP) today announced that it has priced a public offering of 3,500,000 shares of common stock in an underwritten public offering. Pricing was set at $17.15 per share, and net proceeds from the offering, after deducting underwriting discounts and estimated offering expenses payable by the Company, are expected to be approximately $57.0 million. The Company intends to invest the net proceeds in lower middle market companies in accordance with its investment objective and strategies, and for working capital and general corporate purposes.
The underwriters have been granted an option, exercisable for 30 days, to purchase up to 525,000 additional shares of common stock to cover overallotments, if any. The underwriters of this offering are Morgan Stanley & Co. LLC, Morgan Keegan & Company, Inc., Robert W. Baird & Co. Incorporated, BB&T Capital Markets, a division of Scott & Stringfellow, LLC, JMP Securities LLC, and Sterne, Agee & Leach, Inc. The offering is subject to customary closing conditions and is expected to close on August 29, 2011.
