While a majority of the shares present at the special meeting voted in favor of the sale to Benefit Street Partners, either a majority of all of the stock, or 67% of the shares at the meeting were required for approval.
CEO Jonathan Cohen reiterates the company strategy of rotating out of lower-yielding, liquid corporate loans, and into higher-yielding middle-market loans and share repurchases.
Whether NexPoint or TGP Specialty Lending (TSLX +0.4%) will pursue their takeover proposals is not addressed.
TICC -1.35% to $5.86
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