BRIEF: Triangle Capital to issue stock

RALEIGH, Jun 13, 2008 (The News & Observer - McClatchy-Tribune Information Services via COMTEX) -- TCAP | Quote | Chart | News | PowerRating -- Investment firm Triangle Capital Corp. is positioning itself by filing plans to issue as much as $300 million of new stock.

The Raleigh firm filed a shelf registration with the Securities and Exchange Commission. The company's plan is to issue stock in comparatively small amounts -- $30 million or less -- "to avoid dilution," Chief Financial Officer Steven Lilly said.

Triangle Capital shares fell 20 cents Wednesday to close at $11.47 -- below the $15 per share the stock fetched when it went public in February 2007. Three equity analysts who follow the company have rated the stock a "buy" or its equivalent.

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