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TCP Capital Corp (NASDAQ:TCPC)

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On Thursday, Shares of TCP Capital Corp (NASDAQ:TCPC), lost -2.26% and closed at $16.84 in the last trading session. The last trading range of the stock ranges between $16.52 and $16.87. TCP Capital Corp. (TCPC) (the “Company”) recently declared that it has priced the public offering of 5,000,000 shares of its common stock at $16.84 per share for total gross proceeds of about $84.2 million. The Company has granted the underwriters an option for 30 days to purchase up to an additional 750,000 shares of common stock.  The offering is subject to customary closing conditions and is expected to close on or about April 25, 2017.  The offering of the shares will be made under the Company’s shelf registration statement, which was filed with, and declared effective by, the Securities and Exchange Commission (“SEC”) on May 6, 2016.

The Company intends to use the net proceeds from this offering to repay amounts outstanding under its credit facilities (which will increase the funds under the credit facilities available to the Company to make additional investments in portfolio companies in accordance with its investment objective) and for other general corporate purposes.

Wells Fargo Securities, LLC, BofA Merrill Lynch, Raymond James & Associates, Inc., Deutsche Bank Securities Inc. and RBC Capital Markets, LLC are acting as joint book-running managers for the offering.

Analyst recommendation for this stock stands at 2.00.