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Monroe Capital Corp Increases Size Of Proposed Initial Public Offering


Tuesday, 23 Oct 2012 01:31pm EDT 

Monroe Capital Corp announced that it intends to focus on providing financing primarily to lower middle-market companies in the United States and Canada, announced an increase in planned initial public offering to 5,000,000 shares of common stock. In connection with the initial public offering, Monroe expects to purchase an initial portfolio of loans for $67.6 million from two funds managed by affiliates of Monroe Capital BDC Advisors, LLC, Monroe’s external investment adviser. Monroe currently expects that the initial public offering price per share of common stock will be $15.00 per share. Assuming an initial public offering price of $15.00 per share, Monroe will receive gross proceeds of $75.0 million and net proceeds of $73.5 million. Purchasers in the offering will experience dilution to the net asset value of the shares of approximately $0.30 per share. The underwriters will reserve up to 500,000 shares from this offering for sale, directly or indirectly, to Monroe’s directors and executive officers and to certain other parties affiliated with Monroe Capital, LLC at the initial offering price without payment of an underwriting discount or commission. As part of initial public offering, Monroe Capital BDC Advisors, LLC has agreed to pay the expenses incurred by Monroe in connection with their formation and this offering and has agreed to pay to the underwriters a portion of the sales load equal to $3.0 million, or 4.0% of the offering price. 

Company Quote

13.42
-0.06 -0.45%
4:00pm EDT