HOUSTON, Aug. 11,
2022 /PRNewswire/ -- Main Street Capital Corporation
(NYSE: MAIN) ("Main Street") is pleased to announce that it has
priced a public underwritten offering of 1,170,000 shares of its
common stock. Pricing was set at $42.85 per share, and net proceeds from the
offering, after deducting underwriting discounts and estimated
offering expenses payable by Main Street, are expected to be
approximately $47.9 million.
Main Street has also granted the underwriters an option,
exercisable for 30 days, to purchase up to 175,500 additional
shares of its common stock at the public offering price, less the
underwriting discount.
Main Street intends to initially use the net proceeds from this
offering, including the net proceeds from any exercise of the
underwriters' option to purchase additional shares, to repay
outstanding debt borrowed under its credit facility and then,
through re-borrowing under the credit facility, to make investments
in accordance with its investment objective and strategies, to make
investments in marketable securities and idle funds investments, to
pay operating expenses and other cash obligations, and for general
corporate purposes.
The underwriters of this offering are RBC Capital Markets, UBS
Investment Bank and Wells Fargo Securities (as joint bookrunners)
and Hovde Group, LLC and Oppenheimer & Co. (as
co-managers). The shares will be sold pursuant to an
effective shelf registration statement on Form N-2 that has been
filed with, and has been declared effective by, the U.S. Securities
and Exchange Commission (the "SEC"). The offering is subject
to customary closing conditions and is expected to close on
August 15, 2022.
Investors should carefully consider, among other things, Main
Street's investment objective and strategies and the risks related
to Main Street and the offering before investing. The final
prospectus supplement dated August 11,
2022, the accompanying prospectus dated March 3, 2022, any related free writing
prospectus, and any information incorporated by reference in each,
contain this and other information about Main Street.
The offering may be made only by means of a prospectus
supplement and an accompanying prospectus, copies of which may be
obtained from RBC Capital Markets, LLC, 200 Vesey Street, 8th
Floor, New York, NY, 10281, Attn:
Prospectus Department, or by telephone at (877) 822-4089, UBS
Securities LLC, Attention: Prospectus Department, 1285 Avenue of
the Americas, New York, NY 10019,
telephone: (888) 827-7275 or email: ol-prospectusrequest@ubs.com
and Wells Fargo Securities, LLC, Attention: Equity Syndicate
Department, 30 Hudson Yards, New York,
NY, 10001, by telephone: (800) 326-5897 or by email at
cmclientsupport@wellsfargo.com.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy, nor will there be any sale of the
shares referred to in this press release, in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of such state or jurisdiction.
ABOUT MAIN STREET CAPITAL CORPORATION
Main Street (www.mainstcapital.com) is a principal investment
firm that primarily provides long-term debt and equity capital to
lower middle market companies and debt capital to middle market
companies. Main Street's portfolio investments are typically
made to support management buyouts, recapitalizations, growth
financings, refinancings and acquisitions of companies that operate
in diverse industry sectors. Main Street seeks to partner
with entrepreneurs, business owners and management teams and
generally provides "one stop" financing alternatives within its
lower middle market investment strategy. Main Street's lower
middle market companies generally have annual revenues between
$10 million and $150 million. Main Street's private loan
and middle market debt investments are made in businesses that are
generally larger in size than its lower middle market portfolio
companies.
Main Street, through its wholly owned portfolio company MSC
Adviser I, LLC ("MSC Adviser"), also maintains an asset management
business through which it manages investments for external
parties. MSC Adviser is registered as an investment adviser
under the Investment Advisers Act of 1940, as
amended.
FORWARD-LOOKING STATEMENTS
This press release contains certain forward-looking statements
which are based upon Main Street management's current expectations
and are inherently uncertain. Any such statements other than
statements of historical fact are likely to be affected by other
unknowable future events and conditions, including elements of the
future that are or are not under Main Street's control, and that
Main Street may or may not have considered; accordingly, such
statements cannot be guarantees or assurances of any aspect of
future performance. Actual performance and results could vary
materially from these estimates and projections of the future as a
result of a number of factors, including those described from time
to time in Main Street's filings with the SEC. Such
statements speak only as of the time when made and are based on
information available to Main Street as of the date hereof and are
qualified in their entirety by this cautionary statement.
Main Street assumes no obligation to revise or update any such
statement now or in the future.
Contacts:
Main Street Capital Corporation
Dwayne L. Hyzak, CEO,
dhyzak@mainstcapital.com
Jesse E. Morris, CFO and COO,
jmorris@mainstcapital.com
713-350-6000
Dennard Lascar Investor
Relations
Ken Dennard |
ken@dennardlascar.com
Zach Vaughan |
zvaughan@dennardlascar.com
713-529-6600
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SOURCE Main Street Capital Corporation