Underwriters Fully Exercise Option to Purchase
Additional Shares
HOUSTON, Feb. 4,
2025 /PRNewswire/ -- MSC Income Fund, Inc. (NYSE:
MSIF) ("MSC Income" or the "Company"), an externally managed
business development company, is pleased to announce that it closed
the previously announced public offering of 5,500,000 shares of its
common stock (the "Common Stock") at the public offering price of
$15.53 per share. MSC Income's shares
of Common Stock began trading on the New York Stock Exchange on
January 29, 2025 under the ticker
symbol "MSIF." In addition, the underwriters have fully exercised
their overallotment option to purchase 825,000 additional
shares. Including the exercise of the underwriters'
overallotment option, MSC Income sold a total of 6,325,000 shares
of Common Stock in the offering for approximately $91 million in net proceeds, after deducting
underwriting discounts and commissions and estimated offering
expenses payable by MSC Income.
MSC Income intends to initially use all of the net proceeds from
this offering to repay outstanding debt borrowed under its credit
facilities, and then through re-borrowing under the credit
facilities, to make investments in accordance with its investment
objective and strategies, pay operating expenses and other cash
obligations, and for general corporate purposes.
RBC Capital Markets, Truist Securities, Raymond James, UBS Investment Bank and Keefe,
Bruyette & Woods, A Stifel Company, acted as joint
book-running managers for the offering. B. Riley Securities,
Citizens JMP, Sanders Morris, Clear Street, Comerica Securities,
Texas Capital Securities and Zions Capital Markets acted as
co-managers for the offering.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the shares referred to in this
press release.
ABOUT MSC INCOME FUND, INC.
The Company (www.mscincomefund.com) is a principal investment
firm that primarily provides debt capital to private companies
owned by or in the process of being acquired by a private equity
fund. The Company's portfolio investments are typically made to
support leveraged buyouts, recapitalizations, growth financings,
refinancings and acquisitions of companies that operate in diverse
industry sectors. The Company seeks to partner with private equity
fund sponsors and primarily invests in secured debt investments
within its private loan investment strategy. The Company also
maintains a portfolio of customized long-term debt and equity
investments in lower middle market companies, and through those
investments, the Company has partnered with entrepreneurs, business
owners and management teams in co-investments with Main Street
Capital Corporation (NYSE: MAIN) ("Main Street") utilizing the
customized "one-stop" debt and equity financing solution provided
in Main Street's lower middle market investment strategy. The
Company's private loan portfolio companies generally have annual
revenues between $25 million and
$500 million. The Company's lower
middle market portfolio companies generally have annual revenues
between $10 million and $150 million.
ABOUT MSC ADVISER I, LLC
MSC Adviser I, LLC is a wholly owned subsidiary of Main Street
that is registered as an investment adviser under the Investment
Advisers Act of 1940, as amended. It currently manages
investments for external parties, including the Company.
FORWARD-LOOKING STATEMENTS AND OTHER MATTERS
MSC Income cautions that statements in this press release which
are forward-looking and provide other than historical information,
including but not limited to information about the anticipated use
of net proceeds from MSC Income's public offering, are based on
current conditions and information available to MSC Income as of
the date hereof. Although its management believes that the
expectations reflected in those forward-looking statements are
reasonable, MSC Income can give no assurance that those
expectations will prove to be correct. Those forward-looking
statements are made based on various underlying assumptions and are
subject to numerous uncertainties and risks, including, without
limitation, such factors described under the captions "Cautionary
Statement Concerning Forward-Looking Statements" and "Risk Factors"
included in MSC Income's filings with the SEC (www.sec.gov). All
forward-looking statements speak only as of the date of this
communication. MSC Income undertakes no obligation to update the
information contained herein to reflect subsequently occurring
events or circumstances, except as required by applicable
securities laws and regulations.
Contacts:
MSC Income Fund, Inc.
Dwayne L. Hyzak, CEO,
dhyzak@mainstcapital.com
Cory E. Gilbert, CFO,
cgilbert@mainstcapital.com
713-350-6000
Dennard Lascar Investor
Relations
Ken Dennard / ken@dennardlascar.com
Zach Vaughan /
zvaughan@dennardlascar.com
713-529-6600
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SOURCE MSC Income Fund, Inc.
