Triton Pacific IPO proceeds to finance small, mid-sized U.S. companies

By Toni Weeks

San Luis Obispo, Calif., Nov. 15 - Triton Pacific Investment Corp., Inc. announced plans for its initial public offering of stock in a 497 filing with the Securities and Exchange Commission. Triton Pacific Securities, LLC is the dealer manager for the best-efforts offering.

The newly formed specialty finance company seeks to generate current income and long-term capital appreciation by making primarily debt and equity investments in small to mid-sized private U.S. companies. The portfolio will concentrate on investments in senior secured loans, second-lien secured loans and, to a lesser extent, subordinated loans of private U.S. companies.

The company is offering up to 20 million common shares at an initial price of $15.00 per share on a continuous basis. The deal has a minimum offering of $2.5 million.

Upon completion of the offering, Triton Pacific will be an externally managed, closed-end, non-diversified management investment company, and proceeds will be used to make investments primarily in small to mid-size private companies.

The investment committee is comprised of Craig J. Faggen, Ivan Faggen, Joseph Davis, Thomas Scott and Sean D. Gjos.

The sales load is 10%. Including base management fees of 2.5%, total annual expenses will run 6%.

Los Angeles-based Triton Pacific Adviser, LLC is the investment adviser.

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