TCP Capital Prices Public Offering Of 5.4 Mln Shares At $17.33/shr - Quick Facts

(RTTNews) - TCP Capital Corp. (TCPC) announced Tuesday that it has priced the public offering of 5.4 million shares of its common stock at $17.33 per share for total gross proceeds of about $93.6 million.

The company has granted the underwriters an option for 30 days to purchase up to an additional 810,000 shares of common stock. The offering is subject to customary closing conditions and is expected to close on or about August 1, 2014.

The company stated that it plans to use the net proceeds from this offering to repay amounts outstanding under its revolving credit facilities (which will increase the funds under the revolving credit facilities available to the Company to make additional investments in portfolio companies) and to make investments in portfolio companies in accordance with its investment objective and for other general corporate purposes, including payment of operating expenses.

Deutsche Bank Securities Inc., BofA Merrill Lynch, Raymond James & Associates, Inc., Keefe, Bruyette & Woods, Inc. and RBC Capital Markets, LLC are acting as joint book-running managers for the offering. Oppenheimer & Co. Inc. is acting as lead manager for the offering.