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Triangle Capital starts common stock offering


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Triangle Capital starts common stock offering

TriangleCapital Corp. has started an underwritten public offering of 6,250,000 common shares.

The company also plans to grant the underwritersan option to buy up to an additional 937,500 shares.

Based on the company's July 25 closing price of $20.52and including the underwriters' option, S&P Global Market Intelligence calculatesan aggregate offering price of approximately $147.5 million.

Triangle Capital plans to invest the net proceedsfrom the offering in lower-middle-market companies in line with its investment objectiveand strategies, and for working capital and general corporate purposes.

Morgan Stanley & Co. LLC, Keefe Bruyette &Woods, Bank of America Merrill Lynch, Wells Fargo Securities LLC and Robert W. Baird& Co. Inc. are acting as joint book-running managers for the offering. BB&TCapital Markets and Janney Montgomery Scott LLC are acting as lead managers, andJMP Securities LLC, Wunderlich Securities Inc. and Houlihan Lokey Capital Inc. areacting as co-managers.