Raleigh investment firm Triangle Capital expects to receive net proceeds of $119.6 million from its latest secondary stock offering after pricing the 6.25 million shares it is selling.
Triangle Capital announced Tuesday that the shares were priced at $19.90 each.
The pricing came a day after the company unveiled its plans for a stock offering. Triangle Capital periodically boosts its investment capacity with stock and bond offerings.
The company had $64.2 million in cash and $171.9 million in borrowing capacity as of March 31.
Triangle Capital typically makes loans of between $5 million and $35 million to privately-owned businesses with annual revenue ranging from $20 million to $200 million. It also takes a minority ownership stake in its portfolio companies.
Triangle Capital’s investment portfolio is valued at $940 million.
The company’s shares closed Tuesday at $19.80, down 72 cents. Its shares have risen 4 percent this year.
The underwriters of the latest offering also have an option to purchase up to 937,500 additional shares at the same price.