Actionable news
0
All posts from Actionable news
Actionable news in TICC: TICC Capital Corp.,

Additional definitive proxy soliciting materials filed by non-management and Rule 14(a)(12) material

BGCOLOR="WHITE">

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A INFORMATION

PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE

SECURITIES EXCHANGE ACT OF 1934

Filed by the Registrant ¨ Filed by a Party other than the Registrant x

Check the appropriate box:

TICC CAPITAL CORP.

(Name of Registrant as Specified In Its Charter)

TPG Specialty Lending, Inc.

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment of Filing Fee (Check the appropriate box):

On November 6, 2015, TPG Specialty Lending, Inc. issued the following press release:

TPG Specialty Lending, Inc. Comments on TICC Capital Corp.s Third Quarter 2015 Financial Results and Reiterates Compelling Value of its Proposal to Acquire TICC

TSLX Ready to Engage with TICC Toward Realizing Value of Transaction and Delivering Immediate, Upfront Premium to TICC Stockholders

TSLX Urges Stockholders to Vote the GOLD Proxy Card Today to Demand TICC Engage with TSLXs Offer

NEW YORK( BUSINESS WIRE )TPG Specialty Lending, Inc. (TSLX; NYSE:TSLX), a specialty finance company focused on lending to middle-market companies, today sent a letter to stockholders of TICC Capital Corp. (TICC; Nasdaq: TICC) commenting on TICCs financial results for the third quarter of 2015 and urging stockholders to demand that TICC engage with TSLXs compelling offer.

A copy of the letter follows:

Dear Fellow TICC Stockholders:

You have an important choice regarding the future of your investment in TICC Capital Corp. (TICC). We urge TICC stockholders, the true owners of the company, to make your voices heard by demanding your board engage with TPG Specialty Lending, Inc.s (TSLX) compelling offer and by voting against the sale of TICCs adviser (the BSP Transaction) to an affiliate of Benefit Street Partners L.L.C. (BSP), an affiliate of Providence Equity Partners LLC.

TICC reported its financial results for the third quarter of 2015 today and surprisingly refused to engage with stockholders or the investment community on the companys conference call. TICC has asked its stockholders to approve an inferior transaction and turned down competing proposals yet still did not take questions from investors or analysts to address the concerns surrounding the companys recent actions or its poor financial performance. As a stockholder, we continue to be disappointed with TICCs lack of transparency and lack of focus on creating stockholder value.

In evaluating the BSP Transaction, we encourage stockholders to consider the following facts:

TSLX has presented TICC with a highly compelling offer that:

TICCS BOARD MUST PROTECT YOUR INVESTMENT OR BE REPLACED

You, TICCs stockholders are the true owners of the company and should send a message to TICCs board to engage with TSLX on our offer to deliver real value to stockholders. The TICC board needs to be urged to remember it is obligated to act in stockholders best interests to protect your investment.

TICC AND ITS SPECIAL COMMITTEE HAVE CONSISTENTLY FAILED TO PUT TICC STOCKHOLDERS FIRST

While claiming to act on behalf of stockholders in recent months, your board has taken the following actions:

The time for change is now. Vote today to join the overwhelming chorus demanding that TICC begin substantive discussions with TSLX concerning its updated proposal.

TSLX IS READY AND WILLING TO ENGAGE WITH TICC TO DELIVER REAL VALUE TO TICC STOCKHOLDERS

TSLX stands by its superior proposal and remains confident that it is the most compelling option for TICC stockholders.

VOTE THE GOLD PROXY CARD AGAINST MANAGEMENTS PROPOSALS TODAY!

Make your voice heard. Do not let TICC continue to mislead you. Reject the value-destructive transaction with BSP and urge TICCs board to begin substantive discussions with TSLX.

Vote the GOLD card NOW to send a clear message to TICC to engage with TSLX. Visit www.changeTICCnow.com for more information about TSLXs compelling offer.

Sincerely,

Joshua Easterly

Chairman, Board of Directors

Co-Chief Executive Officer

Michael Fishman

Co-Chief Executive Officer

If you have any questions concerning this letter or TSLXs proposal,

please call MacKenzie Partners at one of the phone numbers listed below.

MacKenzie Partners

105 Madison Avenue

New York, NY 10016

TPG@mackenziepartners.com

(212) 929-5500 (call collect)

or

TOLL-FREE (800) 322-2885

About TPG Specialty Lending

TPG Specialty Lending, Inc. (TSLX, or...


More