RALEIGH, N.C., February 28, 2017 -- Triangle Capital Corporation (NYSE:TCAP) (“Triangle” or the "Company") today announced that it has priced an underwritten public offering of 7,000,000 shares of common stock. The public offering price was set at $19.50 per share, and net proceeds from the offering, after deducting underwriting discounts and estimated offering expenses payable by the Company, are expected to be approximately $132 million. The Company intends to use the net proceeds of this public offering to make additional investments in lower middle market companies in accordance with its investment objective and strategies, and for working capital and general corporate purposes.

The underwriters have been granted an option, exercisable for 30 days, to purchase up to 1,050,000 additional shares of common stock. Morgan Stanley & Co. LLC, BofA Merrill Lynch, Keefe, Bruyette & Woods, A Stifel Company, Wells Fargo Securities, LLC and Robert W. Baird & Co. Incorporated are acting as joint bookrunning managers of this offering. Janney Montgomery Scott LLC, BB&T Capital Markets, a division of BB&T Securities, LLC and JMP Securities LLC are acting as lead managers, and J.J.B. Hilliard, W.L. Lyons, LLC, Wunderlich Securities, Inc. and Fifth Third Securities, Inc. are acting as co-managers for this offering. The offering is subject to customary closing conditions and is expected to close on March 3, 2017.

Investors should carefully consider, among other things, Triangle’s investment objective and strategies, charges and expenses and the risks related to Triangle and the offering before investing. The preliminary prospectus supplement dated February 27, 2017, including the base prospectus dated April 18, 2016, which has been filed with the Securities and Exchange Commission, contains risk factors and other information about Triangle. A shelf registration statement relating to these securities is on file with and has been declared effective by the Securities and Exchange Commission. The offering may be made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained, when available, from any of the following investment banks: Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; BofA Merrill Lynch, Attn: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, North Carolina, 28255-0001, or by emailing dg.prospectus_requests@baml.com; Keefe, Bruyette & Woods, A Stifel Company, 787 Seventh Avenue, 4th Floor, New York, NY 10019 (telephone number: 1-800-966-1559); Wells Fargo Securities, LLC, Attn: Equity Syndicate Department, 375 Park Avenue, New York, NY 10152-4077 (telephone number: 1-800-326-5897), or by emailing cmclientsupport@wellsfargo.com or Robert W. Baird & Co. Incorporated, Attn: Syndicate