SOURCE: Technology Investment Capital Corp.

November 28, 2005 06:00 ET

TICC Announces Offering of Public Stock

GREENWICH, CT -- (MARKET WIRE) -- November 28, 2005 -- Technology Investment Capital Corp. (the "Company") (NASDAQ: TICC) announced today it plans to make a public offering of approximately 5 million shares of its common stock. The offering price of the shares will be determined by market conditions at the time of pricing.

In connection with this offering, the Company intends to grant an option to purchase up to an additional 750,000 shares to cover over-allotments, if any.

The Company expects to use the net proceeds of the offering to repay amounts outstanding under the Company's credit facility, to fund investments in portfolio companies and for general corporate purposes.

A shelf registration statement relating to the securities in this offering has been filed with the Securities and Exchange Commission and has become effective.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in this offering, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

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 uncertainties inherent 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.

Contact Information

  • For further information contact:
    Patrick Conroy
    (203) 983-5282