TICC Capital registers 4 million shares, with 15% greenshoe

By Toni Weeks

San Diego, March 15 - TICC Capital Corp. has registered 4 million shares of its common stock, according to a 497 filing with the Securities and Exchange Commission. The underwriters have an additional 600,000 shares for an over-allotment option.

The Greenwich, Conn.-based specialty finance company is a closed-end, non-diversified management investment company that provides capital to primarily nonpublic small-to-medium-sized companies. Its primary focus is to seek current income by investing in corporate debt securities.

The company's stock (Nasdaq Global Select: TICC) closed at $10.43 per share on March 14, and its net asset value was $9.30 as of Dec. 31.

Wells Fargo Securities, RBC Capital Markets, BB&T Capital Markets, Ladenburg Thalmann & Co. Inc. and JMP Securities are the underwriters.

The shares will be subject to a 4.5% sales load. The base management fee will be 2.94%, with total annual expenses coming to 7.86%.

TICC Management, LLC, a subsidiary of BDC Partners, will be the investment adviser for the offering.

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