An investigation on behalf of investors of TICC Capital Corp. (NASDAQ:TICC) in connection with the proposed takeover was announced and NASDAQ:TICC stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/19/2015 -- An investigation for shareholders in NASDAQ:TICC was announced concerning whether the takeover of TICC Capital Corp. by TPG Specialty Lending, Inc. for $7.50 per share is unfair.
On September 16, 2015, TPG Specialty Lending, Inc. announced that it has made a proposal to acquire TICC Capital Corp. (NASDAQ:TICC) in a stock-for-stock transaction.
Investors who purchased shares of TICC Capital Corp. (NASDAQ:TICC) and currently hold any of those NASDAQ:TICC shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call 858-779-1554.
The investigation by a law firm concerns whether certain officers and directors of TICC Capital Corp. breached their fiduciary duties owed to NASDAQ:TICC investors in connection with the proposed acquisition.
Under the terms of the non-binding proposal delivered to the Special Committee of TICC Capital Corp's Board of Directors on September 10, 2015, TICC Capital Corp. (NASDAQ:TICC) stockholders would receive a number of shares of TPG Specialty Lending, Inc. (NYSE: TSLX) common stock that results in TICC Capital Corp. (NASDAQ:TICC) stockholders receiving $7.50 in value per share as of the signing date of a definitive agreement.
However, given that at least one analyst has set the high target price for NASDAQ:TICC shares at $9.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:TICC stockholders. More specifically, the investigation concerns whether the TICC Capital Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
TICC Capital Corp. reported that its annual Total Revenue rose from $45.19 million in 2011 to $117.32 million in 2014.
Shares of TICC Capital Corp. (NASDAQ:TICC) reached as high as $10.81 per share in late 2013.
On October 16, 2015, NASDAQ:TICC shares closed at $6.74 per share.
Those who are current investors in TICC Capital Corp. shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego