TICC Capital Files Proxy Supplement Outlining the Special Committee’s Process in Reviewing NexPoint Proposal

Provides Additional Information Around Proceeds to be Received by Owners of TICC Management

GREENWICH, Conn.--(BUSINESS WIRE)-- TICC Capital Corp. (NASDAQ: TICC) today filed a proxy statement supplement with the Securities and Exchange Commission outlining the process undertaken by the Special Committee of TICC’s Board in reviewing the proposal from NexPoint Advisors, L.P. The supplement contains proposed corrective disclosures that are being made in response to an order issued by the United States District Court for the District of Connecticut and that remain subject to Court review and approval before being finalized.

TICC Capital also clarified the monetary benefit the two TICC Board members and one member of management who are affiliated with TICC Management will receive upon the closing of the previously announced transaction in which an affiliate of Benefit Street Partners, LLC (“BSP”) will acquire control of TICC Management, LLC, TICC Capital’s external advisor.

Steve Novak, the Chairman of a Special Committee of TICC's Board of Directors said, “We welcome the opportunity to provide additional detail on the diligent and careful review the Special Committee conducted of NexPoint’s proposal and to provide clarity around the consideration to be received by the individuals affiliated with TICC Management. We urge our stockholders to read the Company’s proxy statement supplement.”

The proxy statement supplement is available at www.ticcbspagreement.com.

Morgan Stanley & Co. LLC and Wachtell, Lipton, Rosen & Katz are advising the Special Committee of the TICC Capital Board.

About TICC Capital Corp.

TICC Capital Corp. is a publicly-traded business development company principally engaged in providing capital to established businesses, investing in syndicated bank loans and purchasing debt and equity tranches of collateralized loan obligations.

Additional Information and Where to Find It

In connection with the approval of the proposed new investment advisory agreement, the Company has filed relevant materials with the SEC, including a definitive proxy statement on Schedule 14A. The Company has distributed the definitive proxy statement and a proxy card to each stockholder entitled to vote at the special meeting relating to the approval of the proposed new investment advisory agreement. INVESTORS AND SECURITY HOLDERS OF THE COMPANY ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO), AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE APPROVAL OF THE PROPOSED NEW INVESTMENT ADVISORY AGREEMENT THAT THE COMPANY FILES WITH THE SEC, BECAUSE THESE MATERIALS CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY AND THE APPROVAL OF THE PROPOSED NEW INVESTMENT ADVISORY AGREEMENT. The definitive proxy statement and other relevant materials in connection with the approval of the proposed new investment advisory agreement, and any other documents filed by the Company with the SEC, may be obtained free of charge at the SEC's website (http://www.sec.gov ), at the Company's website (http://www.ticc.com ), or by writing to the Company at 8 Sound Shore Drive, Suite 255, Greenwich, CT 06830 (telephone number 203-983-5275).

Participants in the Solicitation

The Company and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the Company's stockholders with respect to the approval of the proposed new investment advisory agreement. Information about the Company's directors and executive officers and their ownership of the Company's common stock is set forth in the proxy statement on Schedule 14A filed with the SEC on September 3, 2015, and the Annual Report on Form 10-K for the fiscal year ended December 31, 2014. Information regarding the identity of the potential participants, and their direct or indirect interests in the approval of the proposed new investment advisory agreement, by security holdings or otherwise, are set forth in the proxy statement and other materials filed or to be filed with SEC in connection therewith.

Forward Looking Statements

This press release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact (including statements containing the words "believes," "plans," "anticipates," "expects," "estimates" and similar expressions) should also be considered to be forward-looking statements. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements. These factors are identified from time to time in our filings with the Securities and Exchange Commission. We undertake no obligation to update such statements to reflect subsequent events.

View source version on businesswire.com: http://www.businesswire.com/news/home/20151027006051/en/

TICC
Media:
Sard Verbinnen & Co
Brandy Bergman/Meghan Gavigan
212-687-8080
or
Stockholders:
Okapi Partners LLC
Bruce Goldfarb/Tony Vecchio
877-566-1922

Source: TICC Capital Corp.

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