Exhibit 99.1
TECHNOLOGY INVESTMENT CAPITAL CORP.
8 Sound Shore Drive, Suite 255
Greenwich, CT 06830
Tel: (203) 983-5275 Fax: (203) 983-5290
TICC ANNOUNCES $10 MILLION TRANSACTION WITH
LEADING SHARED WEB HOSTING COMPANY
Greenwich, CT - 07/26/2004 - Technology Investment Capital Corp. (NASDAQ: TICC)
announced today that it has completed a $10 million debt transaction with a
leading, private equity-backed provider of shared web hosting solutions and
other online products and services to small businesses. TICC's investment
consists of $7 million of senior secured notes with warrants and a commitment
for an additional $3 million of senior notes and warrants as the company
achieves certain milestones.
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.
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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.