Specialty finance company sold a total of 4.26 million shares at $19
New York, Feb. 13 - Triangle Capital Corp. said that its public offering of common stock was completed on Monday with the underwriters exercising their over-allotment option to raise the total size to $80.85 million.
Triangle originally priced the follow-on offering of 3.7 million shares at $19.00 each on Feb. 8. The greenshoe added a further 555,000 shares for a total of 4,255,000.
The price per share was a 1.76% discount to the Feb. 7 closing share price of $19.34.
Morgan Stanley & Co. LLC, Morgan Keegan & Co., Inc., Robert W. Baird & Co. Inc. and BB&T Capital Markets were joint bookrunners with Janney Montgomery Scott LLC, JMP Securities LLC and Sterne, Agee & Leach, Inc. as co-managers.
Proceeds to the company of $77 million will be used for investments in lower middle market companies, working capital and general corporate purposes.
Triangle is a specialty finance company in Raleigh, N.C.
| Issuer: | Triangle Capital Corp.
|
| Issue: | Common stock
|
| Amount: | $80,845,000 (original $70.3 million plus exercise of $10,545,000 greenshoe)
|
| Shares: | 4,255,000 (original 3.7 million plus exercise of 555,000 greenshoe)
|
| Price: | $19.00
|
| Warrants: | No
|
| Underwriters: | Morgan Stanley & Co. LLC, Morgan Keegan & Co., Inc., Robert W. Baird & Co. Inc., BB&T Capital Markets (joint books), Janney Montgomery Scott LLC, JMP Securities LLC and Sterne, Agee & Leach, Inc.
|
| Pricing date: | Feb. 8
|
| Settlement date: | Feb. 13
|
| Stock symbol: | NYSE: TCAP
|
| Stock price: | $19.34 at close Feb. 7
|
| Market capitalization: | $428.16 million
|
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