TICC Capital greenshoe exercised, ups convertible sale to $115 million

By Tali David

Minneapolis, Oct. 22 - Underwriters for TICC Capital Corp.'s 7.5% senior convertible note offering exercised the rest of their over-allotment option for $10 million, increasing the size of the issue to $115 million, according to a press release.

The company priced $105 million of the five-year convertibles on Sept. 26, including a $5 million partial greenshoe.

As previously reported, the Rule 144A offering had a $15 million over-allotment option and was sold via Barclays as bookrunner and Ladenburg Thalmann as co-manager.

Proceeds will be used for general corporate purposes, which may include investments in corporate debt, equity securities and structured finance vehicles.

TICC is a business development company focused on small and mid-size companies and is based in Greenwich, Conn.

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