Market Overview

Triangle Capital Corporation Closes Public Offering of Common Stock

Triangle Capital Corporation (Nasdaq: TCAP) ("Triangle" or the "Company") today closed its underwritten public offering of 2,400,000 shares of common stock at a price of $15.80 per share. In addition, the underwriters fully exercised their option to purchase 360,000 additional shares of the Company's common stock to cover over-allotments. Today's closing included the sale of the over-allotment shares, bringing the total number of shares sold in this offering to 2,760,000. Net proceeds from the offering, after deducting underwriting discounts and estimated offering expenses payable by the Company, were approximately $41.3 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.

The underwriters of this offering were Morgan Keegan & Company, Inc., BB&T Capital Markets, a division of Scott & Stringfellow, LLC, Robert W. Baird & Co. Incorporated, and Janney Montgomery Scott LLC.

The shares of common stock were sold pursuant to a registration statement that has been filed with and declared effective by the Securities and Exchange Commission. This press release does not constitute an offer to sell or the solicitation of an offer to buy the shares referred to in this press release.

Posted-In: News Offerings

 

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