Deal sells 3 million common shares at $17.50 apiece, a 1.8% discount
By Devika Patel
Knoxville, Tenn., Oct. 19 - Main Street Capital Corp. said it negotiated a $52.5 million public sale of stock. There is a $7.88 million greenshoe.
The company will sell 3 million common shares at $17.50 apiece. The price per share is a 1.8% discount to the Oct. 18 closing share price of $17.82.
The underwriters are Morgan Keegan & Co., Inc., BB&T Capital Markets, Robert W. Baird & Co. Inc., Janney Montgomery Scott LLC, Ladenburg Thalmann & Co. Inc., Sanders Morris Harris Inc., D.A. Davidson & Co. and Wunderlich Securities, Inc.
Settlement is expected Oct. 21.
Proceeds will be used to make portfolio investments, make investments in marketable securities and idle funds, repay debt under the company's $155 million credit facility, for operating expenses and other cash obligations and general corporate purposes.
Main Street is a Houston-based principal investment firm that primarily provides long-term debt and equity capital to lower middle market companies.
| Issuer: | Main Street Capital Corp.
|
| Issue: | Common stock
|
| Amount: | $52.5 million
|
| Greenshoe: | $7,875,000
|
| Shares: | 3 million
|
| Price: | $17.50
|
| Warrants: | No
|
| Underwriters: | Morgan Keegan & Co., Inc., BB&T Capital Markets, Robert W. Baird & Co. Inc., Janney Montgomery Scott LLC, Ladenburg Thalmann & Co. Inc., Sanders Morris Harris Inc., D.A. Davidson & Co. and Wunderlich Securities, Inc.
|
| Pricing date: | Oct. 19
|
| Settlement date: | Oct. 21
|
| Stock symbol: | NYSE: MAIN
|
| Stock price: | $17.82 at close Oct. 18
|
| Market capitalization: | $405.02 million
|
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