TCP Capital (TCPC) Prices Upsized 4.5M Common Stock Offering

TCP Capital Corp. (Nasdaq: TCPC) announced that it has priced the public offering of 4.5 million shares of its common stock at $15.63 per share for total gross proceeds of approximately $70.3 million. The Company has granted the underwriters an option for 30 days to purchase up to an additional 15% of the shares of common stock sold to cover overallotments, if any. The offering is subject to customary closing conditions and is expected to close on or about May 24, 2013. The offering of the shares will be made under the Company’s shelf registration statement, which was filed with, and declared effective by, the Securities and Exchange Commission.

The amount is larger than 4 million shares originally announced.

TCPC intends to use the net proceeds of this offering to repay amounts outstanding under its $116 million revolving credit facility.

Deutsche Bank Securities Inc., Keefe, Bruyette & Woods, Inc. and Raymond James & Associates, Inc. are acting as joint book-running managers for the offering.

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