Underwriters' greenshoe fully exercised for additional 450,000 shares
By Devika Patel
Knoxville, Tenn., Oct. 26 - Main Street Capital Corp. said it settled a $60.38 million public sale of stock. The deal priced for $52.5 million with a $7.88 million greenshoe on Oct. 19.
The company sold 3.45 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. Of the shares, 450,000 were part of the fully exercised greenshoe.
The underwriters were 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.
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 as well as 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: | $60,375,000 (including $7,875,000 greenshoe)
|
| Shares: | 3.45 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. 26
|
| Stock symbol: | NYSE: MAIN
|
| Stock price: | $17.82 at close Oct. 18
|
| Market capitalization: | $408.82 million
|
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