Triangle Capital Corporation Prices Public Offering Of Common Stock

RALEIGH, N.C., Feb. 8, 2011 (GLOBE NEWSWIRE) -- Triangle Capital Corporation (NYSE:TCAP) ("Triangle" or the "Company") today announced that it has priced a public offering of 3,000,000 shares of common stock in an underwritten public offering. The offering was increased in size from the originally contemplated 2,500,000 shares of common stock. Pricing was set at $19.25 per share, and net proceeds from the offering, after deducting underwriting discounts and estimated offering expenses payable by the Company, are expected to be approximately $54.8 million. The Company intends to invest the net proceeds in lower middle market companies in accordance with its investment objective and strategies, and for working capital and general corporate purposes.

The underwriters have been granted an option, exercisable for 30 days, to purchase up to 450,000 additional shares of common stock to cover overallotments, if any. The underwriters of this offering are Morgan Keegan & Company, Inc., Robert W. Baird & Co. Incorporated, BB&T Capital Markets, a division of Scott & Stringfellow, LLC, Janney Montgomery Scott LLC, and JMP Securities LLC. The offering is subject to customary closing conditions and is expected to close on February 11, 2011.

The shares will be sold pursuant to an effective shelf registration statement on Form N-2 that has been filed with the U.S. Securities and Exchange Commission.

Investors are advised to carefully consider the investment objectives, risks and charges and expenses of the Company before investing. The final prospectus supplement dated February 8, 2011, including the base prospectus dated August 12, 2010, contains this and other information about the Company. The offering may be made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained from Morgan Keegan & Company, Inc., Attn: Equity Syndicate Department, 50 N. Front Street, 19th Floor, Memphis, Tennessee 38103. 

This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the shares referred to in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.