TICC Announces Completion of Public Offering of Common Stock
GREENWICH, CT, Feb 11, 2013 (Menafn - MARKETWIRE via COMTEX) --TICC Capital Corp. (the "Company") TICC announced todaythat it has completed a public offering of 6,325,000 shares of itscommon stock (including 825,000 shares of common stock that wereissued pursuant to the full exercise of the option granted to theunderwriters to purchase additional shares) at a public offeringprice of 10.36 per share for total gross proceeds of approximately65.5 million.
Barclays Capital Inc. acted as the sole book-running manager for theoffering. Stifel, Nicolaus & Company, Incorporated acted as leadmanager for the offering and Ladenburg Thalmann & Co. Inc., asubsidiary of Ladenburg Thalmann Financial Services Inc. (nyse mkt:LTS), JMP Securities LLC and BB&T Capital Markets, a division of BB&TSecurities, LLC, acted as co-managers for the offering.
The Company expects to use the net proceeds from the offering forgeneral corporate purposes, which may include investments incorporate debt and equity securities and investments in structuredfinance vehicles.
This press release does not constitute an offer to sell or thesolicitation of an offer to buy the securities in this offering orany other securities nor will there be any sale of these securitiesor any other securities referred to in this press release in anystate or jurisdiction in which such offer, solicitation or sale wouldbe unlawful prior to the registration or qualification under thesecurities laws of such state or jurisdiction.
The shares have been issued from the Company's shelf registrationstatement relating to these securities on file with and declaredeffective by the Securities and Exchange Commission. The offering maybe made only by means of a prospectus and a related prospectussupplement, copies of which may be obtained from Barclays CapitalInc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue,Edgewood, New York 11717; Barclaysprospectus@broadridge.com (phone:888-603-5847). Investors are advised to carefully consider theinvestment objectives, risks and charges and expenses of the Companybefore investing. The prospectus supplement, dated February 6, 2013,and accompanying prospectus, dated January 18, 2013, each of whichhas been filed with the Securities and Exchange Commission, contain adescription of these matters and other important information aboutthe Company and should be read carefully before investing.
About TICC Capital Corp.
TICC Capital Corp. is a publicly-traded business development companyprincipally engaged in providing capital to established small andmid-size companies, investing in syndicated bank loans and purchasingdebt and equity tranches of collateralized loan obligations.Companies interested in learning more about financing opportunitiesshould contact Debdeep Maji at (203) 983-5285.
Forward-Looking Statements
This press release contains forward-looking statements subject to theinherent uncertainties in predicting future results and conditions,including statements with regard to the Company's anticipated use ofthe net proceeds of the offering. Any statements that are notstatements of historical fact (including statements containing thewords "believes," "plans," "anticipates," "expects," "estimates" andsimilar expressions) should also be considered to be forward-lookingstatements. Certain factors could cause actual results and conditionsto differ materially from those projected in these forward-lookingstatements. These forward-looking statements are subject to numerousfactors, many of which are beyond the control of the Company,including, without limitation, market conditions, changes in interestrates, failure of customary closing conditions and other matters setforth in the Company's prospectus supplement and accompanyingprospectus. These factors are identified from time to time in ourfilings with the Securities and Exchange Commission. We undertake noobligation to update such statements to reflect subsequent events,except as required by applicable law.
Contact:
Bruce Rubin
203-983-5280
Patrick Conroy
203-983-5282
SOURCE: TICC Capital Corp.
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