Triangle Capital Closes Public Offering of Common Stock
Triangle Capital Corporation closed its underwritten public offering of 3.7 million shares of common stock at a public offering price of $19.00 per share. In addition, the underwriters fully exercised their option to purchase 555,000 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 4.255 million.
Net proceeds from the offering, after deducting underwriting discounts and estimated offering expenses payable by the company, were approximately $77 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 Stanley & Co., Morgan Keegan & Company, Robert W. Baird & Co, BB&T Capital Markets, a division of Scott & Stringfellow, Janney Montgomery Scott, JMP Securities and Sterne, Agee & Leach.
Triangle Capital is a specialty finance company organized to provide customized financing solutions to lower middle-market companies located throughout the United States.
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