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Published Tue, Feb 14, 2012 04:19 AM
Modified Mon, Feb 13, 2012 07:43 PM

Triangle Capital nets $77 million

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STAFF WRITER DAVID RANII

Raleigh investment firm Triangle Capital reported Monday that it netted $77 million from its latest secondary offering.

Triangle announced last week that it planned to sell 4.2 million shares at $19 per share. The $77 million in net proceeds deducts underwriting expenses and other costs and includes the sale of an additional 555,000 shares underwriters had an option to sell.

Triangle makes loans to mid-sized, privately held companies and also takes a minority ownership stake in the businesses in its loan portfolio. It periodically issues new stock to boost its investment capital.

Underwriters of its latest offering included Morgan Stanley, Morgan Keegan & Co., Robert W. Baird & Co., BB&T Capital Markets, Janney Montgomery Scott, JMP Securities and Sterne, Agee & Leach.

Triangle shares closed up 15 cents at $19.23 on Monday. Last year, its shares traded as low as $14.42.

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