TICC Capital Corp. (TICC) said Friday it has completed a public offering of 3.45 million shares of its common stock at a public offering price of $10.20 per share for total gross proceeds of about $35.2 million.
The offering includes 450,000 shares of common stock that were issued pursuant to the full exercise of the option granted to the underwriters to purchase additional shares.
The company said it plans to use the net proceeds from the offering for general corporate purposes, which may include investments in corporate debt and equity securities and investments in structured finance vehicles.
Barclays Capital Inc. acted as the sole book-running manager for the offering, while Keefe, Bruyette & Woods Inc. acted as lead manager.
TICC Capital Corp. is a business development company mainly engaged in providing capital to established businesses, investing in syndicated bank loans and purchasing debt and equity tranches of collateralized loan obligations.
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