TCP Capital (TCPC) IPO Trades Lower

The IPO for TCP Capital Corp. (Nasdaq: TCPC) is open for trading. Shares are trading at $14.20 after pricing 5,750,000 shares at $14.75 per share.

Deutsche Bank Securities Inc. and Stifel, Nicolaus & Company, Incorporated are acting as joint book-running managers for the offering. Oppenheimer & Co. Inc. is acting as lead manager for the offering.

.TCP Capital Corp.'s investment objective is to seek to achieve high total returns while minimizing losses. TCP Capital Corp. seeks to achieve its investment objective primarily through investments in debt securities of middle-market companies, which it typically defines as those with enterprise values between $100 million and $1.5 billion. TCP Capital Corp. is a publicly-traded business development company regulated under the Investment Company Act of 1940 and is externally managed by its advisor, Tennenbaum Capital Partners, LLC, a leading alternative investment manager.

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