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 7, 2020

 

 

 

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:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ 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 ¨

 

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. ¨

 

 

 

   

 

 

Item 2.02.Results of Operations and Financial Condition.

 

On October 7, 2020, 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.

 

Exhibit 99.1. Press release dated October 7, 2020

 

   

 

 

SIGNATURE

 

    Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

   

Main Street Capital Corporation

 

(Registrant)

 

October 7, 2020

 

(Date)

 

/s/   Jason B. Beauvais

 

Jason B. Beauvais 

General Counsel

 

   

 

 

Exhibit 99.1

 

  NEWS RELEASE
     
   

Contacts:

Main Street Capital Corporation

Dwayne L. Hyzak, CEO, [email protected]

Brent D. Smith, CFO, [email protected]

713-350-6000

 

Dennard Lascar Investor Relations

Ken Dennard | [email protected]

Zach Vaughan | [email protected]

713-529-6600

 

Main Street Announces Third Quarter 2020 Private Loan Portfolio Activity

 

HOUSTON, October 7, 2020 – 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 2020, Main Street originated approximately $85.0 million in new private loan commitments across five (5) new borrowers and funded net new investments across its private loan portfolio with a cost basis totaling approximately $71.0 million.

 

The following represent notable new private loan commitments during the third quarter of 2020:

 

·$17.3 million in a first lien senior secured loan and $2.7 million in a first lien senior secured revolver to a niche consumer product manufacturer;

 

·$16.7 million in a first lien senior secured loan and $3.3 million in a first lien senior secured revolver to a defense contractor;

 

·$15.0 million in a first lien senior secured loan and $1.3 million in a first lien senior secured revolver to a cloud-based technology company focused on procurement processes and activities;

 

·$15.0 million in a first lien senior secured loan to a dental support organization; and

 

·$10.0 million in a first lien senior secured loan and $3.7 million in a first lien senior secured revolver to an electronic road tolling software and service provider.

 

As of September 30, 2020, Main Street’s private loan portfolio included total investments at cost of approximately $823.0 million across 68 unique borrowers. The private loan portfolio, as a percentage of cost, included 90% invested in first lien debt investments, 3% invested in second lien debt investments, and 7% 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 portfolio.  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.