Just when we thought the battle for TICC Capital (TICC) was over, two huge developments have put the Company back in play and sent its stock price up 10%. We dissect and discuss the latest developments, and seek to handicap the battle between these asset management heavyweights. Whether TICC shareholders will fully benefit is an open question.
The opaque struggle for control of the right to be the External Manager of TICC Capital (TICC) continues. We discuss the latest offer and counter-offer; wring our hands for the Company's shareholders and make a stab at predicting how this will turn out. Spoiler Alert: the shareholder does not fare well at the end.
NexPoint, a subsidiary of Highland Capital, launches an unsolicited offer to become TICC Capital's (TICC) new External Manager instead of Benefit Street Partners. Neither contender is telling investors what they need to know, but we're hoping the tussle may shed some light on this strange changing of the guard at TICC.
With half the Business Development Companies having reported earnings for the second quarter, we have a look at the direction of the sector and highlight a number of developments underway. It's just a snapshot and not a comprehensive review. We'll have a full survey once earnings season is over.
Hot off the digital presses details on TICC Capital Management's proposed sale of the management contract in TICC Capital (TICC) to Benefit Street Partners, an arm of a huge Private Equity Group. The new external manager-if approved by shareholders-will be changing everything about the Company and the existing managers will be long gone.