Published on 8/3/2016 in the Prospect News PIPE Daily.
Monroe greenshoe exercised in $55.26 million public sale of stock
Raymond James, Baird, William Blair, Janney Montgomery Scott assist
By Devika Patel
Knoxville, Tenn., Aug. 3 – Monroe Capital Corp. said the underwriters for its public offering of stock opted to exercise the deal’s $7.21 million greenshoe in full, lifting total proceeds of the offering to $55.26 million. The deal was announced July 19 and priced for $48.05 million with the greenshoe on July 20.
The company sold 3,565,000 common shares at $15.50 per share. The price per share is a 2.64% discount to the July 19 closing share price of $15.92. Of the shares, 465,000 were part of the fully exercised greenshoe.
Raymond James & Associates, Inc., Robert W. Baird & Co. Inc., William Blair & Co., LLC and Janney Montgomery Scott LLC were the bookrunners.
Proceeds will be used to repay debt under the company’s credit facility, to invest in portfolio companies and for general corporate purposes.
Chicago-based Monroe Capital is a publicly traded specialty finance company that principally invests in senior, unitranche and junior secured debt and, to a lesser extent, unsecured subordinated debt and equity investments in middle-market companies.
| Issuer: | Monroe Capital Corp.
|
| Issue: | Common stock
|
| Amount: | $55,257,500, including $7,207,500 greenshoe of 465,000 shares
|
| Shares: | 3,565,000
|
| Price: | $15.50
|
| Warrants: | No
|
| Bookrunners: | Raymond James & Associates, Inc., Robert W. Baird & Co. Inc., William Blair & Co., LLC and Janney Montgomery Scott LLC
|
| Co-managers: | BB&T Capital Markets, Ladenburg Thalmann & Co. Inc., Oppenheimer & Co. Inc., Stephens Inc. and Wunderlich Securities, Inc.
|
| Announcement date: | July 19
|
| Pricing date: | July 20
|
| Settlement date: | Aug. 3
|
| Stock symbol: | Nasdaq: MRCC
|
| Stock price: | $15.92 at close July 19
|
| Market capitalization: | $205.87 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
