497AD: Filing by certain investment companies of Securities Act Rule 482 advertising in accordance with Securities Act Rule 497
Published on April 22, 2009
Filed pursuant to Rule 497(a)(1)
File No. 333-151930
Rule 482ad
File No. 333-151930
Rule 482ad
3700 Glenwood Ave., Ste. 530 Raleigh, NC 27612 Tel. (919) 719-4770 Fax (919) 719-4777 |
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www.TCAP.com |
TRIANGLE CAPITAL CORPORATION PRICES PUBLIC
OFFERING OF COMMON STOCK
OFFERING OF COMMON STOCK
RALEIGH,
NC April 22, 2009 Triangle Capital Corporation
(Nasdaq: TCAP) (Triangle or the Company)
today announced that it has priced a public offering of 1,200,000 shares of common stock in an
underwritten public offering. Pricing was set at $10.75 per share, and net proceeds from the
offering, after deducting underwriting discounts and estimated expenses payable by the Company, are
expected to be approximately $11,855,000. The Company intends to invest the net proceeds in lower middle
market companies in accordance with our investment objective and strategies, and for working
capital and general corporate purposes.
The
Company has granted the underwriters an option, exercisable for
30 days, to purchase up to 180,000
additional shares of common stock to cover over-allotments, if any.
If this option is exercised in full, the total net proceeds from this
offering, after deducting discounts and expenses, are expected to be
approximately
$13,693,250. The underwriters of this
offering are Morgan Keegan & Company, Inc., BB&T Capital Markets, a division of Scott &
Stringfellow, LLC, and RBC Capital Markets. The offering is subject to customary closing conditions
and is expected to close on April 27, 2009.
The shares will be sold pursuant to an effective shelf registration statement on Form N-2 that has
been filed with the U.S. Securities and Exchange Commission.
Investors
should carefully consider the investment objectives, risks and charges and
expenses of the Company before investing. The final prospectus supplement dated April 22, 2009,
including the base prospectus dated April 16, 2009, contains this and other information about the
Company. The offering may be made only by means of a prospectus and a related prospectus
supplement, copies of which may be obtained from Morgan Keegan & Company, Inc., 50 N. Front Street,
Memphis, Tennessee, 38103.
This press release does not constitute an offer to sell or the solicitation of an offer to buy nor
will there be any sale of the shares referred to in this press release in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of such state or jurisdiction.
About Triangle Capital Corporation
Triangle Capital Corporation (www.TCAP.com) is a specialty finance company organized to provide
customized financing solutions to lower middle market companies located throughout the United
States. Triangles investment objective is to seek attractive returns by generating current income
from debt investments and capital appreciation from equity related investments. Triangles
investment philosophy is to partner with business owners, management teams and financial sponsors
to provide flexible financing solutions to fund growth, changes of control, or other corporate
events. Triangle typically
invests
$5.0 - $15.0 million per transaction in companies with annual revenues between $20.0 and
$75.0 million and EBITDA between $2.0 and $20.0 million.
Triangle has elected to be treated as a business development company under the Investment Company
Act of 1940 (1940 Act). Triangle is required to comply with a series of regulatory requirements
under the 1940 Act as well as applicable NASDAQ, federal and state laws and regulations. Triangle
has elected to be treated as a regulated investment company under the Internal Revenue Code of
1986. Failure to comply with any of the laws and regulations that apply to Triangle could have a
material adverse effect on Triangle and its stockholders.
This press release may contain forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Any such statements, other than statements of historical
fact, may be affected by other unknowable future events and conditions, including
elements of the future that are not under the Companys control,
or factors that the Company may not have considered; accordingly,
such statements are not guarantees or assurances of any
aspect of future performance. Actual developments and results may vary materially
from these forward-looking statements. Such statements speak only as of the time when
made, and the Company undertakes no obligation to update any such statement now or in the future.
Contacts
Sheri B. Colquitt
|
Steven C. Lilly | |
Vice President, Investor Relations
|
Chief Financial Officer | |
919-719-4784
|
919-719-4789 | |
scolquitt@tcap.com
|
slilly@tcap.com |