HOUSTON, Jan. 30,
2025 /PRNewswire/ -- Main Street Capital Corporation
(NYSE: MAIN) ("Main Street") is pleased to announce that MSC Income
Fund, Inc. ("MSC Income"), an externally managed business
development company ("BDC") for which Main Street's wholly owned
registered investment adviser, MSC Adviser I, LLC ("MSC Adviser"),
serves as the investment adviser and administrator, recently closed
a follow-on public offering of 5,500,000 shares of its common stock
at $15.53 per share and, in
connection with the offering, MSC Income's shares of common stock
began trading on the New York Stock Exchange on January 29, 2025 under the ticker symbol "MSIF."
MSC Income received gross proceeds from the offering of
approximately $85.4 million, which it
intends to use, after the fees and expenses associated with the
offering, to repay outstanding debt borrowed under its credit
facilities, and then through re-borrowing under the credit
facilities, to make investments in accordance with its investment
objective and strategies, pay operating expenses and other cash
obligations, and for general corporate purposes.
"We are very pleased to announce the successful completion of
MSC Income's follow-on offering and listing and are very excited
about the future opportunities that we expect these activities to
bring to both Main Street and MSC Income shareholders," said
Dwayne L. Hyzak, Main Street's Chief
Executive Officer.
ABOUT MAIN STREET CAPITAL CORPORATION
Main Street
(www.mainstcapital.com) is a principal investment firm that
primarily provides customized long-term debt and equity capital
solutions to lower middle market companies and debt capital to
private companies owned by or in the process of being acquired by a
private equity fund. 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 customized "one-stop" debt and equity financing
alternatives within its lower middle market investment strategy.
Main Street seeks to partner with private equity fund sponsors and
primarily invests in secured debt investments in its private loan
investment strategy. Main Street's lower middle market portfolio
companies generally have annual revenues between $10 million and $150
million. Main Street's private loan portfolio companies
generally have annual revenues between $25
million and $500 million.
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.
ABOUT MSC INCOME FUND, INC.
MSC Income
(www.mscincomefund.com) is a principal investment firm that
primarily provides debt capital to private companies owned by or in
the process of being acquired by a private equity fund. MSC
Income's portfolio investments are typically made to support
leveraged buyouts, recapitalizations, growth financings,
refinancings and acquisitions of companies that operate in diverse
industry sectors. MSC Income seeks to partner with private equity
fund sponsors and primarily invests in secured debt investments
within its private loan investment strategy. MSC Income also
maintains a portfolio of customized long-term debt and equity
investments in lower middle market companies, and through those
investments, MSC Income has partnered with entrepreneurs, business
owners and management teams in co-investments with Main Street
utilizing the customized "one-stop" debt and equity financing
solution provided in Main Street's lower middle market investment
strategy. MSC Income's private loan portfolio companies generally
have annual revenues between $25
million and $500 million. MSC
Income's lower middle market portfolio companies generally have
annual revenues between $10 million
and $150 million.
FORWARD-LOOKING STATEMENTS
Main Street cautions that
statements in this press release which are forward-looking and
provide other than historical information, including but not
limited to any potential benefits related to the MSC Income listing
and follow-on offering, are based on current conditions and
information available to Main Street as of the date hereof.
Although its management believes that the expectations reflected in
those forward-looking statements are reasonable, Main Street can
give no assurance that those expectations will prove to be correct.
Those forward-looking statements are made based on various
underlying assumptions and are subject to numerous uncertainties
and risks, including, without limitation, such factors described
under the captions "Cautionary Statement Concerning Forward-Looking
Statements" and "Risk Factors" included in Main Street's filings
with the Securities and Exchange Commission (the "SEC")
(www.sec.gov). Main Street undertakes no obligation to update the
information contained herein to reflect subsequently occurring
events or circumstances, except as required by applicable
securities laws and regulations.
Contacts:
Main Street Capital Corporation
Dwayne L. Hyzak, CEO,
dhyzak@mainstcapital.com
Ryan R. Nelson, CFO,
rnelson@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/msc-income-fund-completes-follow-on-public-offering-and-listing-of-its-shares-on-the-new-york-stock-exchange-302364608.html
SOURCE Main Street Capital Corporation
