Monroe Capital Corporation has completed its initial public offering of 5,000,000 shares of its common stock at a public offering price of $15.00 per share, raising approximately $75 million in gross proceeds.
Robert W. Baird & Co., William Blair & Company, and Janney Montgomery Scott served as joint book-running managers for the initial public offering. BB&T Capital Markets and Stephens Inc. served as co-lead managers, and Ladenburg Thalmann & Co. and Wunderlich Securities served as co-managers for the initial public offering.
“We are extremely pleased to announce the completion of our initial public offering. Our affiliate, Monroe Capital LLC, is a lender to lower middle-market companies and we are excited to bring that expertise to the management of Monroe Capital Corporation. We also look forward to creating long term value for our shareholders,” Theodore Koenig, President and Chief Executive Officer of Monroe Capital Corporation.
Monroe Capital is a specialty finance company providing senior and junior debt to middle-market companies. The firm specializes in originating, structuring and providing one-stop financings. Investment types include senior and junior secured debt as well as bridge loans, acquisition facilities, mezzanine or last-out secured loans and equity co-investments. Monroe Capital is based in Chicago (www.monroecap.com).
Monroe Capital intends to use a portion of the net proceeds from the offering to pay the outstanding balance on the term loan portion of the credit facility it incurred in order to acquire its initial portfolio. It intends to use the remainder of the net proceeds of the offering to invest in portfolio companies in accordance with its investment objectives and for general corporate purposes.
© 2012 PEPD • Private Equity’s Leading News Magazine • 10-31-12