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TICC Capital greenshoe exercised, ups common shares to 4.89 million
By Tali David
Minneapolis, March 21 - Underwriters for TICC Capital Corp.'s common stock offering exercised their over-allotment option in full for 637,000 more shares, increasing the size of the issue to 4,887,500 shares, according to a 497 filing with the Securities and Exchange Commission.
The public offering price was $9.96 per share for total gross proceeds of about $48.7 million.
As previously reported, the company's stock (Nasdaq Global Select: TICC) closed at $10.43 per share on March 15, and its net asset value was $9.30 as of Dec. 31.
Wells Fargo Securities, RBC Capital Markets, B&T Capital markets, Ladenburg Thalmann & Co. Inc. and JMP Securities were the underwriters.
Net proceeds will be used for general corporate purposes, which may include investing in debt or equity securities, and other general corporate purposes, including working capital requirements.
TICC Management, LLC, a subsidiary of BDC Partners, is the investment adviser for the offering.
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