Triangle Capital Corporation Closes Over-Allotment Option in Connection With Public Offering of Common Stock
Triangle Capital Corporation (NYSE: TCAP) today announced that in connection with the offering of 3,500,000 shares of common stock at $17.15 per share which closed on August 29, 2011, the underwriters have fully exercised their option to purchase 525,000 additional shares of the Company's common stock to cover over-allotments.
proceeds from the sale of these additional shares, after deducting underwriting discounts and estimated offering expenses payable by the Company, were approximately $8.6 million, bringing the Company's total net proceeds from the offering to approximately $65.6 million.
The Company intends to invest these net proceeds in lower middle market companies in accordance with its investment objective and strategies, and for working capital and general corporate purposes.
