Triangle Capital boosting its investment coffers

08/12/2014 1:15 PM

08/12/2014 1:15 PM

Raleigh investment firm Triangle Capital reported that its latest stock offering will generate about $111 million in net proceeds that the company plans to use for new investments.

Triangle Capital announced Tuesday that it’s new stock offering consists of 4.3 million shares – 300,000 more than it announced a day earlier – that have been priced at $28.65 per share. The expected net proceeds of $111 million deducts costs and expenses associated with the stock offering.

Triangle Capital shares were trading at $26.82, down 82 cents, early Tuesday afternoon. The company’s shares have fallen 2 percent this year.

Triangle Capital makes loans to mid-sized, privately held businesses and also takes a minority ownership stake in those businesses. The company periodically issues new stock or sells bonds to increase its investment capital.

Triangle Capital had $79.6 million in cash and another $133.7 million in borrowing capacity under its $165 million credit facility at the end of the second quarter.

The underwriters of the latest offering also have the option to purchase an additional 645,000 shares at the offering price.

Join the Discussion

News & Observer is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Terms of Service