Underwriters Fully Exercise Option to Purchase
Additional Shares
HOUSTON, Aug. 15,
2022 /PRNewswire/ -- Main Street Capital Corporation
(NYSE: MAIN) ("Main Street") is pleased to announce that it closed
the previously announced underwritten offering of 1,170,000 shares
of its common stock at a public offering price of $42.85 per share. In addition, the underwriters
fully exercised their option to purchase 175,500 additional shares.
Including the exercise of the underwriters' option, the total
number of shares sold in the offering was 1,345,500. Net proceeds
to Main Street from the offering, including exercise of the
underwriters' option to purchase additional shares and after
deducting underwriting discounts and estimated offering expenses
payable by Main Street, were approximately $55.1 million.
Main Street intends to use all of the net proceeds from this
offering to initially 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 were 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 were 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").
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the shares referred to in this
press release.
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
View original
content:https://www.prnewswire.com/news-releases/main-street-closes-public-offering-of-common-stock-301605688.html
SOURCE Main Street Capital Corporation