Triangle Capital Corp. (TCAP) said Friday that it has closed its underwritten public offering of 1.56 million shares at a price of $12.00 per share.
In addition, the underwriters fully exercised their option to purchase 234,000 additional shares of the company's common stock to cover over-allotments. The closing included the sale of the over-allotment shares, bringing the total number of shares sold in the offering to 1,794,000.
Net proceeds from the offering, after deducting underwriting discounts and estimated offering expenses payable by the company, were about $20.25 million.
The company plans to invest the net proceeds in lower middle market companies in accordance with its investment objective and strategies, and for working capital and general corporate purposes.
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