main-202210140001396440false00013964402022-10-142022-10-14
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 14, 2022
__________________________________________________________________________
Main Street Capital Corporation
(Exact name of registrant as specified in its charter)
| | | | | | | | |
Maryland | 001-33723 | 41-2230745 |
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
| | | | | | | | | | | |
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:
| | | | | |
| 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:
| | | | | | | | |
| 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 14, 2022, 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
| | | | | |
| |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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.
| | | | | | | | |
| Main Street Capital Corporation |
| | |
Date: October 14, 2022 | By: | /s/ Jason B. Beauvais |
| | Name: Jason B. Beauvais |
| | Title: General Counsel |
Exhibit 99.1
| | | | | |
| NEWS RELEASE |
| Contacts: Main Street Capital Corporation 713-350-6000 Dennard Lascar Investor Relations 713-529-6600 |
Main Street Announces Third Quarter 2022 Private Loan Portfolio Activity
HOUSTON – October 14, 2022 – 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 2022, Main Street originated approximately $269.9 million in new commitments in its private loan portfolio across eight new borrowers and funded total investments across its private loan portfolio with a cost basis totaling approximately $233.8 million.
The following represent notable new private loan commitments and investments during the third quarter of 2022:
•$67.6 million in a first lien senior secured loan, $7.1 million in a first lien senior secured revolver and $1.4 million in equity to an outsourced legal provider and mass tort settlement administrator;
•$37.5 million in a first lien senior secured loan, $7.2 million in a first lien senior secured revolver and $1.7 million in equity to a provider of design, engineering and manufacturing services for a variety of original equipment manufacturers in the agricultural, construction and recreational industries;
•$28.6 million in a first lien senior secured loan and $9.5 million in a first lien senior secured revolver to a provider of specialized welding and related energy infrastructure services;
•$14.4 million in a first lien senior secured loan, $12.0 million in a first lien senior secured revolver, $8.0 million in a first lien senior secured delayed draw loan and $0.2 million in equity to a supplemental staffing company focused on business continuity solutions;
•$16.9 million in a first lien senior secured loan, $3.4 million in a first lien senior secured revolver and $6.8 million in a first lien senior secured delayed draw loan to a provider of clinical trial sites used by drug manufacturers to perform clinical trials;
•$17.1 million in a first lien senior secured loan, $1.5 million in a first lien senior secured revolver and $3.0 million in a first lien senior secured delayed draw loan to a provider of applied behavior analysis therapy;
•$16.0 million in a first lien senior secured loan, $3.2 million in a first lien senior secured revolver and $0.6 million in equity to a provider of professional-level photobooks, cards, frames, photoprint, calendars and more; and
•$3.7 million in a first lien senior secured loan, $1.0 million in a first lien senior secured revolver and $1.5 million in a first lien senior secured delayed draw loan to a provider of high-quality rice varietals as well as beans and spices.
As of September 30, 2022, Main Street’s private loan portfolio included total investments at cost of approximately $1.5 billion across 87 unique borrowers. The private loan portfolio, as a percentage of cost, included 97.0% invested in first lien debt investments and 3.0% 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 companies generally have annual revenues between $10 million and $150 million. Main Street’s middle market debt investments are made in businesses that 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.