-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, FIMza7vdRtmwohPRTorQIMe0ucgQ9mgMBXdFy/pfKGq2yK8hkR0bkA0ABdrlXNK3 NhFnuGFUdrsMCpnj0Q3IJg== 0000950136-04-002449.txt : 20040805 0000950136-04-002449.hdr.sgml : 20040805 20040805100252 ACCESSION NUMBER: 0000950136-04-002449 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040805 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040805 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TECHNOLOGY INVESTMENT CAPITAL CORP CENTRAL INDEX KEY: 0001259429 IRS NUMBER: 200118736 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 814-00638 FILM NUMBER: 04953435 BUSINESS ADDRESS: STREET 1: 8 SOUND SHORE DR STREET 2: SUITE 215 CITY: GREENWICH STATE: CT ZIP: 06830 BUSINESS PHONE: 2036613122 8-K 1 file001.txt TECHNOLOGY INVESTMENT CAPITAL CORP. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ----------------------------------- FORM 8-K Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): August 5, 2004 TECHNOLOGY INVESTMENT CAPITAL CORP. (Exact name of registrant as specified in its charter) MARYLAND 000-50398 20-0118736 (State or other jurisdiction (Commission File Number) (I.R.S. Employer of incorporation) Identification No.) 8 SOUND SHORE DRIVE, SUITE 255 GREENWICH, CT 06830 (Address of principal executive offices and zip code) Registrant's telephone number, including area code: (203) 983-5275 ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS. (a) Not applicable. (b) Not applicable. (c) Exhibits. EXHIBIT NO. DESCRIPTION ----------- ----------- 99.1 Press release dated August 5, 2004 ITEM 12. RESULTS OF OPERATIONS AND FINANCIAL CONDITION. On August 5, 2004, the Company issued a press release announcing its financial results for the three months and six months ended June 30, 2004. The text of the press release is included as an exhibit to this Form 8-K. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: August 5, 2004 TECHNOLOGY INVESTMENT CAPITAL CORP. By: /s/ Saul B. Rosenthal ---------------------- Saul B. Rosenthal Chief Operating Officer EX-99.1 2 file002.txt PRESS RELEASE DATED AUGUST 5, 2004 TECHNOLOGY INVESTMENT CAPITAL CORP. REPORTS FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2004 Greenwich, CT - August 5, 2004 - Technology Investment Capital Corp. (Nasdaq: TICC) announced today results for the quarter ended June 30, 2004. HIGHLIGHTS o We recorded net investment income of $275,059, or $0.03 per share for the second quarter. o Net investment income was $229,462, or $0.02 per share for the six months ended June 30, 2004. o While we did not close any new transactions during the second quarter, we are currently processing several later stage transactions and expect that we should close some of those during the third quarter. We continue to conduct due diligence regarding those transactions. However, there can be no assurance when or if those transactions will close. o On July 26, we announced that we had completed a $10 million transaction with The Endurance International Group consisting of senior secured notes with warrants. o We declared and paid a dividend of $0.11 per share during the second quarter. o On July 28, our Board of Directors declared a dividend of $0.11 for the third quarter, payable on September 30, 2004 to shareholders of record as of September 10, 2004. The ex-dividend date is September 8, 2004. We will host a conference call to discuss our second quarter results today, August 5th at 10:00 AM EST. Please call 877-407-8031 to participate. A replay of the conference call will be available for approximately 30 days. The replay number is 877-660-6853, the account number is 1628 and that access code is 111438. The following financial statements are unaudited and without footnotes. Readers who would like additional information should obtain our Form 10-K for the period ended December 31, 2003 and subsequent reports on Form 10-Q as they are filed. TECHNOLOGY INVESTMENT CAPITAL CORP. BALANCE SHEET
UNAUDITED AUDITED JUNE 30, DECEMBER 31, 2004 2003 - ------------------------------------------------------------------------------------------------------------- ASSETS Investments at fair value (cost: $33,411,566 @ 6/30/04; none @ 12/31/03) $33,411,566 $0 Cash and cash equivalents 104,130,010 138,228,765 Interest receivable 698,249 23,667 Prepaid assets 45,657 72,446 -------------------------------------- Total Assets $138,285,482 $138,324,878 ====================================== LIABILITIES Accrued expenses $878,336 $335,810 Accrued offering expenses 0 19,441 -------------------------------------- Total Liabilities 878,336 355,251 -------------------------------------- STOCKHOLDERS' EQUITY Common stock, $0.01 par value, Common stock, $0.01 par value, 100,000,000 shares authorized, and 10,092,712 and 10,000,100 issued and outstanding, respectively 100,927 100,001 Capital in excess of par value 139,502,029 138,189,832 (Overdistributed) net investment income (loss) (2,195,810) (320,206) -------------------------------------- Total Stockholders' Equity 137,407,146 137,969,627 -------------------------------------- TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $138,285,482 $138,324,878 - ---------------------------------------------------------------------- ======================================
TECHNOLOGY INVESTMENT CAPITAL CORP. STATEMENT OF OPERATIONS
UNAUDITED UNAUDITED 3 MONTHS ENDED 6 MONTHS ENDED JUNE 30, 2004 JUNE 30, 2004 - ------------------------------------------------------------------------------------------------------------- INVESTMENT INCOME Interest income $1,163,458 $1,626,645 Other fees 80,000 530,000 -------------------------------------- Total Investment Income 1,243,458 2,156,645 -------------------------------------- EXPENSES Salaries and benefits 51,800 98,138 Investment advisory fees 689,767 1,378,949 Professional fees 117,588 201,894 Insurance 20,020 40,040 Directors' fees 38,250 70,500 General and administrative 50,974 137,662 -------------------------------------- Total Expenses 968,399 1,927,183 -------------------------------------- NET INVESTMENT INCOME $275,059 $229,462 ====================================== NET INCREASE IN STOCKHOLDERS' EQUITY RESULTING FROM OPERATIONS $275,059 $229,462 Net increase in stockholders' equity resulting from Operations per common share: Basic and Diluted $0.03 $0.02 Weighted average shares of common stock outstanding: Basic and Diluted 10,044,459 10,022,279 - -------------------------------------------------------------------------------------------------------------
ABOUT TECHNOLOGY INVESTMENT CAPITAL CORP. We are a publicly-traded business development company principally engaged in providing capital to small to mid-size technology-related companies. While the structures of our financings vary, we look to invest primarily in the debt of established technology-related businesses. Companies interested in learning more about financing opportunities should contact Barry Osherow at (203) 661-9572 or visit our website at www.ticc.com. FORWARD-LOOKING STATEMENTS This press release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact (including statements containing the words "believes," "plans," "anticipates," "expects," "estimates" and similar expressions) should also be considered to be forward-looking statements. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements. These factors are identified from time to time in our filings with the Securities and Exchange Commission. We undertake no obligation to update such statements to reflect subsequent events. -----END PRIVACY-ENHANCED MESSAGE-----