Triangle Capital Prices Upsized Stock Offering

(RTTNews) - Triangle Capital Corp. (TCAP) said Tuesday that it has priced an underwritten public offering of 4.3 million shares of common stock at $26.85 per share.

The offering size was increased from the originally contemplated 4.0 million shares of common stock. Net proceeds from the offering, after deducting underwriting discounts and estimated offering expenses payable by the Company, are expected to be about $111 million.

The underwriters have been granted an option, exercisable for 30 days, to purchase up to 645,000 additional shares of common stock.

The company plans to use the net proceeds of the public offering to make additional investments in lower middle market companies in accordance with its investment objective and strategies, and for working capital and general corporate purposes.