Seeking Alpha

TICC Capital owners vote down sale

|About: TPG Specialty Lending (TSLX)|By:, SA News Editor

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

Subscribe for full text news in your inbox