TCP Capital Corp. (NASDAQ:TCPC) (the "Company") today announced that it has commenced a public offering of 4.0 million shares of its common stock. The Company expects to grant 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 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. --updated 5/21 - TCP Capital Corp. (NASDAQ:TCPC) (the "Company") today 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.
TCP Capital is a holding company. Through its limited partner interests, Special Value Continuation Partners, LP, Co. intends on investing in investments in debt securities of middle-market companies, which Co. defines as enterprises valued between $100 million and $1.5 billion. While Co. primarily focuses on privately negotiated investments in debt of middle-market companies, Co. may make investments of all kinds and at all levels of the capital structure, including in equity interests such as preferred or common stock and warrants or options received in connection with its debt investments. As of Dec 31 2011, total investments were $378,960,536 and assets totaled $403,453,503.
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