Benefit Street Partners L.L.C. entered into an agreement to acquire TICC Management, LLC from TICC Capital Corp. (NasdaqGS:TICC) and others on August 3, 2015. The transaction is contingent upon approval by TICC Capital’s stockholders of a new investment advisory agreement between the TICC Capital and TICC Management, the election of TICC Capital’s four new independent Directors, replacement of Jonathan H. Cohen and Charles M. Royce as members of the TICC Capital’s Board with Thomas J. Gahan and Richard J. Byrne, President of Benefit Street Partners, replacement of the TICC Capital’s current executive officers and the TICC Management’s investment committee members with certain individuals of Benefit Street Partners, approval by the TICC Capital’s Board of the change in the TICC Capital’s name and receipt of required regulatory and other approvals. Board of directors of TICC Capital Corp. has unanimously approved a new investment advisory agreement between the TICC Capital Corp. and TICC Management, LLC and the other proposals. Completion of the Transaction is expected to occur in the fourth quarter of 2015. TICC Capital announced that shareholder’s special meeting is scheduled on October 27, 2015. As of December 21, 2015, TPG Specialty Lending urged TICC shareholders to vote against the deal. UBS Investment Bank acted as financial adviser to TICC Management, LLC while Houlihan Lokey acted as financial adviser to Benefit Street Partners L.L.C. K&L Gates LLP acted as legal advisor to TICC Management, LLC while Sutherland Asbill & Brennan LLP acted as legal advisor to Benefit Street Partners L.L.C. Donald R. Crawshaw, Whitney A. Chatterjee, Katherine A. McGavin, Andrew S. Mason, Eliyahu D. Jacobson and John C. Wildt of Sullivan & Cromwell LLP acted as legal advisor for TICC Capital Corp. Benefit Street Partners L.L.C. cancelled the acquisition of TICC Management, LLC from TICC Capital Corp. (NasdaqGS:TICC) and others on February 19, 2017.