TICC greenshoe lifts 6.5% $25-par seven-year notes to $64.37 million

By Susanna Moon

Chicago, April 12 – TICC Capital Corp. said underwriters exercised $6,870,225 of the $8,625,000 over-allotment option on its 6.5% $25-par notes due March 30, 2024.

The partial greenshoe exercise brings the total deal size to $64,370,225, according to a company press release.

As reported, TICC sold an upsized $57.5 million offering of the $25-par notes on April 4 after announcing the offering at $50 million after the market close on April 3. The greenshoe was increased from $7.5 million.

Ladenburg Thalmann & Co. Inc., BB&T Capital Markets, Compass Point and William Blair & Co. are the joint bookrunners. Maxim Group LLC and National Securities Corp. are the lead managers.

Interest will be payable on the 30th day of March, June, September and December, beginning June 30. The notes become redeemable on March 30, 2020 at par plus accrued interest.

The new securities will be listed on the Nasdaq Global Select Market under the ticker symbol “TICCL.”

Proceeds will be used to repay or repurchase a portion of the company’s $94.5 million outstanding 7.5% convertible notes coming due Nov. 1.

TICC is a Greenwich, Conn.-based business development company.

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