Barclays assists in raising funds for general corporate purposes
By Toni Weeks
San Luis Obispo, Calif., Feb. 6 - TICC Capital Corp. said it priced a $56.98 million public sale of stock with an $8.55 million greenshoe. The deal, announced Tuesday, originally included the sale of 3 million shares with an over-allotment option for an additional 450,000 shares.
The company will sell 5.5 million shares at $10.36 apiece. The price per share is a 2.54% discount to the Feb. 5 closing share price of $10.63.
Barclays is the bookrunner. Stifel, Nicolaus & Co., Inc. is the lead manager. Ladenburg Thalmann & Co. Inc., JMP Securities LLC and BB&T Capital Markets are the co-managers.
Settlement is expected on Feb. 11.
Proceeds will be used for general corporate purposes, which may include investments in corporate debt and equity securities and investments in structured finance vehicles.
The specialty finance company is based in Greenwich, Conn.
| Issuer: | TICC Capital Corp.
|
| Issue: | Common shares
|
| Amount: | $56.98 million
|
| Greenshoe: | $8,547,000
|
| Shares: | 5.5 million
|
| Price: | $10.36
|
| Warrants: | No
|
| Bookrunner: | Barclays
|
| Manager: | Stifel, Nicolaus & Co. (lead)
|
| Co-managers: | Ladenburg Thalmann & Co. Inc., JMP Securities LLC and BB&T Capital Markets
|
| Announcement date: | Feb. 5
|
| Pricing date: | Feb. 6
|
| Settlement date: | Feb. 11
|
| Stock symbol: | Nasdaq: TICC
|
| Stock price: | $10.63 at close Feb. 5
|
| Market capitalization: | $429.02 million
|
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