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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
__________________________________________________________________________
FORM 8-K
__________________________________________________________________________
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) October 10, 2024
__________________________________________________________________________
Main Street Capital Corporation
(Exact name of registrant as specified in its charter)
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Maryland | 001-33723 | 41-2230745 |
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
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1300 Post Oak Boulevard, 8th Floor, Houston, Texas | 77056 | |
(Address of principal executive offices) | (Zip Code) | |
Registrant's telephone number, including area code: 713-350-6000
Not Applicable
___________________________________________________________________________________
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class | Trading Symbol | Name of each exchange on which registered |
Common Stock, par value $0.01 per share | MAIN | New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 2.02 Results of Operations and Financial Condition.
On October 10, 2024, the Registrant issued a press release. A copy of such press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
The information disclosed under this Item 2.02, including Exhibit 99.1 hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 and shall not be deemed incorporated by reference into any filing made under the Securities Act of 1933, except as expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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| Main Street Capital Corporation |
| | |
Date: October 10, 2024 | By: | /s/ Jason B. Beauvais |
| | Name: Jason B. Beauvais |
| | Title: General Counsel |
Exhibit 99.1 | | | | | |
| NEWS RELEASE |
| Contacts: Main Street Capital Corporation Dwayne L. Hyzak, CEO, dhyzak@mainstcapital.com Ryan R. Nelson, CFO & Treasurer, rnelson@mainstcapital.com 713-350-6000 Dennard Lascar Investor Relations Ken Dennard / ken@dennardlascar.com Zach Vaughan / zvaughan@dennardlascar.com 713-529-6600 |
Main Street Announces Third Quarter 2024 Private Loan Portfolio Activity
HOUSTON – October 10, 2024 – Main Street Capital Corporation (NYSE: MAIN) (“Main Street”) is pleased to announce the following recent activity in its private loan portfolio. During the third quarter of 2024, Main Street originated new or increased commitments in its private loan portfolio of $270.3 million and funded total investments across its private loan portfolio with a cost basis totaling $309.3 million.
The following represent notable new private loan commitments and investments during the third quarter of 2024:
•$77.2 million in a first lien senior secured loan and $8.3 million in a first lien senior secured revolver to a tech-enabled marketing solutions provider offering services across customer loyalty, channel partner marketing, performance media, website design and email marketing;
•$43.6 million in a first lien senior secured loan and $1.4 million in equity to a provider of maintenance, repair and overhaul services for industrial equipment, including compressors, motors, turbines and pumps;
•$31.1 million in a first lien senior secured loan and $4.9 million in a first lien senior secured revolver to an operator of tourism concession and harbor cruises across North America;
•Increased commitment of $22.2 million in a first lien senior secured incremental loan and $0.6 million in a first lien senior secured incremental revolver to a leading tech-enabled global business to business sales training and performance solutions provider;
•Increased commitment of $20.1 million in a first lien senior secured incremental loan and $2.7 million in a first lien senior secured incremental revolver to a manufacturer of chemicals and lubricant additives serving large specialty chemical companies;
•Increased commitment of $15.2 million in a first lien senior secured incremental loan and $2.2 million in a first lien senior secured incremental revolver to a manufacturer of custom engineered die cut, formed foam, nonwoven and multi-material components for the automotive and healthcare end markets;
•Increased commitment of $10.0 million in a first lien senior secured incremental loan, $2.2 million in a first lien senior secured incremental revolver and $5.3 million in a first lien senior secured incremental delayed draw loan to a provider of senior-level executive search, interim placement, consulting and other talent advisory solutions;
•Increased commitment of $8.9 million in a first lien senior secured incremental loan and $1.1 million in a first lien senior secured incremental revolver to a provider of mission critical services to datacenters specializing in the procurement and maintenance of power systems equipment;
•Increased commitment of $7.2 million in a first lien senior secured incremental loan to a provider of packaging supply chain solutions including contract packaging, procurement, warehousing, process design and third-party logistics; and
•Increased commitment of $6.1 million in a first lien senior secured incremental loan to a distributor of food products to government facilities and other food service locations.
As of September 30, 2024, Main Street’s private loan portfolio included total investments at cost of approximately $1.9 billion across 92 unique borrowers. The private loan portfolio, as a percentage of cost, included 96.0% invested in first lien debt investments and 4.0% invested in equity investments or other securities.
ABOUT MAIN STREET CAPITAL CORPORATION
Main Street (www.mainstcapital.com) is a principal investment firm that primarily provides long-term debt and equity capital to lower middle market companies and debt capital to middle market companies. Main Street’s portfolio investments are typically made to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies that operate in diverse industry sectors. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides “one-stop” financing alternatives within its lower middle market investment strategy. Main Street’s lower middle market portfolio companies generally have annual revenues between $10 million and $150 million. Main Street’s middle market portfolio companies are generally larger in size than its lower middle market portfolio companies.
Main Street, through its wholly owned portfolio company MSC Adviser I, LLC (“MSC Adviser”), also maintains an asset management business through which it manages investments for external parties. MSC Adviser is registered as an investment adviser under the Investment Advisers Act of 1940, as amended.
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