Contact Information: Contact: Bruce Rubin 203-983-5280
TICC Announces Offering of Public Stock
| Source: Technology Investment Capital Corp.
GREENWICH, CT--(Marketwire - July 9, 2007) - Technology Investment Capital Corp. (the
"Company") (NASDAQ : TICC ) announced today that it plans to commence a
public offering of approximately 1,250,000 shares of its common stock. In
connection with the proposed offering, TICC intends to grant the
underwriter an option to purchase up to approximately 187,500 additional
shares of common stock to cover over-allotments, if any. The Company may
change the size of this offering based on demand and market conditions.
The shares will be issued from the Company's shelf registration statement
relating to these securities on file with and declared effective by the
Securities and Exchange Commission.
The underwriter for the offering is Wachovia Securities.
The Company expects to use the net proceeds received by it in this offering
to repay indebtedness owed under the Company's current revolving credit
facility, which will create additional capacity under the Company's credit
facility to originate loans and make investments in portfolio companies in
accordance with the Company's investment objective.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities in this offering, nor shall
there be any sales of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities law of any such state or
other jurisdiction.
Investors are advised to carefully consider the investment objective,
risks, and charges and expenses of the Company before investing. This and
other information can be found in the Company's prospectus supplement,
dated July 9, 2007, and prospectus, dated June 29, 2007, which should be
read carefully before investing. The offering may be made only by means of
a prospectus and a related prospectus supplement, copies of which may be
obtained from Wachovia Securities, 375 Park Avenue, 4th floor, New York, NY
10152, Attn: Equity Syndicate or equity.syndicate@wachovia.com.
About Technology Investment Capital Corp.
We are a publicly-traded business development company principally engaged
in providing capital to small to mid-size technology-related companies.
While the structures of our financings vary, we look to invest primarily in
the debt and equity of established technology-related businesses.
Companies interested in learning more about financing opportunities should
contact Barry Osherow at (203) 661-9572 or visit our website at
www.ticc.com.
Forward-Looking Statements
This press release contains forward-looking statements subject to the
inherent uncertainties in predicting future results and conditions. Any
statements that are not statements of historical fact (including statements
containing the words "believes," "plans," "anticipates," "expects,"
"estimates" and similar expressions) should also be considered to be
forward-looking statements. Certain factors could cause actual results and
conditions to differ materially from those projected in these
forward-looking statements. These factors are identified from time to time
in our filings with the Securities and Exchange Commission. We undertake no
obligation to update such statements to reflect subsequent events.