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TICC Capital Completes $48.7 Mln Stock Offering

TICC Capital Corp. (TICC: Quote) said Wednesday that it has completed a public offering of about 4.9 million shares of its common stock, including 637,500 shares of common stock that were issued to cover over-allotments, at a public offering price of $9.96 per share for total gross proceeds of about $48.7 million.

Wells Fargo Securities and RBC Capital Markets acted as joint book-running managers for the offering. BB&T Capital Markets, Ladenburg Thalmann & Co. Inc. and JMP Securities acted as co-managers.

The company expects to use the net proceeds from the offering for general corporate purposes, which may include investing in debt or equity securities, and other general corporate purposes, including working capital requirements.

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by RTT Staff Writer

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After seeing initial strength on the heels of upbeat economic data, stocks have fluctuated over the course of early trading on Wednesday. The major averages have pulled back off their highs for the young session, with the Dow sliding into negative territory. After reporting a notable contraction in U.S. economic activity in the first quarter, the Commerce Department released a report on Wednesday showing that gross domestic product rebounded by more than anticipated in the second quarter. Employment in the U.S. private sector continued to see notable growth in the month of July, according to a report released by payroll processor ADP on Wednesday, although the pace of job growth came in below economist estimates.
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