Key Developments: Main Street Capital Corp (MAIN.N)
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Latest Key Developments (Source: Significant Developments)
Main Street Capital Corp Announces Semi-Annual Special Cash Dividend Payable In July 2013
Main Street Capital Corp announced that its Board of Directors declared its semi-annual special cash dividend of $0.20 per share payable in July 2013. Full Article
Main Street Capital Corp Declares Dividends
Main Street Capital Corp announced that the Board of Directors have declared monthly dividends of $0.155 per share for each of July, August and September 2013. These monthly dividends total $0.465 per share for the second quarter of 2013. July dividend will be payable on July 15, 2013, to the shareholders of record date June 20, 2013 and the ex-dividend date is June 18, 2013. August dividend will be payable on August 15, 2013, to the shareholders of record date August 2, 2013 and the ex-dividend date is July 31, 2013. September dividend will be payable on September 16, 2013, to the shareholders of record date August 21, 2013 and the ex-dividend date is August 19, 2013. Full Article
Main Street Capital Corp Announces Increase In Commitments Under Credit Facility To $352.5 Million
Main Street Capital Corp announced that it has amended its five-year credit facility (the Credit Facility) to expand the total commitments from $287.5 million to $352.5 million. The $65.0 million increase in total commitments was the result of commitment increases by four lenders currently participating in the Credit Facility. The amended Credit Facility also contains an upsized accordion feature that allows for an increase in total commitments under the facility up to $425.0 million of total commitments from new and existing lenders on the same terms and conditions as the existing commitments. The amended Credit Facility provides Main Street with access to additional financing capacity in support of its future investment and operational activities. Main Street currently has $110.0 million of outstanding debt under the Credit Facility. Full Article
Main Street Capital Corp Closes Public Offering Of $80.0 Million 6.125% Senior Unsecured Notes Due 2023
Main Street Capital Corp announced that it closed the previously announced public offering of $80.0 million in aggregate principal amount of 6.125% senior unsecured notes due 2023 (Notes). The Notes will mature on April 1, 2023 , and may be redeemed in whole or in part at any time or from time to time at Main Street's option on or after April 1, 2018 . The Notes bear interest from April 2, 2013 at a rate of 6.125% per year payable quarterly on January 1 , April 1 , July 1 and October 1 of each year, beginning July 1, 2013 . Main Street also granted the underwriters a 30-day option to purchase up to an additional $12.0 million in aggregate principal amount of Notes to cover over-allotments, if any. Main Street intends to use the net proceeds from this offering, including the net proceeds from any exercise of the underwriters' over-allotment option, 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 joint book-running managers of this offering are Keefe, Bruyette & Woods, Inc., Raymond James and RBC Capital Markets, LLC. Full Article
Main Street Capital Corp Prices Public Offering Of $80.0 Million 6.125% Senior Unsecured Notes Due 2023
Main Street Capital Corp announced that it has priced a public offering of $80.0 million in aggregate principal amount of 6.125% senior unsecured notes due 2023 (the Notes). The Notes will mature on April 1, 2023, and may be redeemed in whole or in part at any time or from time to time at Main Street's option on or after April 1, 2018. The Notes will bear interest at a rate of 6.125% per year payable quarterly on January 1, April 1, July 1 and October 1 of each year, beginning July 1, 2013. Main Street also granted the underwriters a 30-day option to purchase up to an additional $12.0 million in aggregate principal amount of Notes to cover over-allotments, if any. The Notes are expected to be listed on the New York Stock Exchange and to trade thereon within 30 days of the original issue date under the trading symbol MSCA. Main Street intends to use the net proceeds from this offering, including the net proceeds from any exercise of the underwriters' over-allotment option, 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. Full Article
Main Street Capital Corp Declares Dividend
Main Street Capital Corp announced that the Board of Directors have declared monthly dividends of $0.155 per share for each of April, May and June 2013. These monthly dividends, which will be payable pursuant to the table below, total $0.465 per share for the second quarter of 2013. The second quarter 2013 dividends represent a 3% increase compared to the regular dividends declared for the first quarter of 2013. Full Article
Main Street Capital Corp Updates on Dividend Payment Date
Main Street Capital Corp announced that with reference to the announcement made on November 7, 2012 the Company will pay a special cash dividend of $0.35 per share in January 2013 , which is in addition to Main Street's regular monthly dividends of $0.15 per share to be paid in each of January, February and March 2013. The Ex-Dividend Date is January 2, 2013, the Record Date is January 4, 2013 and the Payment Date is January 23, 2013. Full Article
Main Street Capital Corp Closes Public Offering of Common Stock
Main Street Capital Corp announced that it has closed the previously announced underwritten public offering of 2,500,000 shares of common stock at a public offering price of $28.00 per share. In addition, the underwriters fully exercised their option to purchase 375,000 additional shares of the Company's common stock to cover over-allotments. Including the exercise of the over-allotment option, the total number of shares sold in the offering was 2,875,000. Net proceeds from the offering, including exercise of the over-allotment option but after deducting underwriting discounts and estimated offering expenses payable by the Company, were approximately $77.1 million. Full Article
Main Street Capital Corp Prices Public Offering of Common Stock
Main Street Capital Corp announced that it has priced a public offering of 2,500,000 shares of its common stock in an underwritten public offering. Pricing was set at $28.00 per share, and net proceeds from the offering, after deducting underwriting discounts and estimated expenses payable by Main Street, are expected to be approximately $67.0 million. Main Street has also granted the underwriters an option, exercisable for 30 days, to purchase up to 375,000 additional shares of common stock to cover over-allotments, if any. Main Street intends to use the net proceeds from this offering, including the net proceeds from any exercise of the underwriters' over-allotment option, 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. Full Article
Main Street Capital Corp Announces Special Cash Dividend and Regular First Quarter 2013 Monthly Dividends
Main Street Capital Corp announced that its board of directors have declared a special cash dividend of $0.35 per share payable in January 2013 and regular monthly dividends of $0.15 per share for each of January, February and March 2013. Full Article
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