Monroe Capital Corporation has announced the pricing of the initial public offering of 5,000,000 shares of its common stock at a public offering price of $15 per share, raising approximately $75,000,000 in gross proceeds.
As part of the offering, Monroe Capital sold 470,000 shares of its common stock at the public offering price of $15 per share directly to affiliates of Monroe Capital Corporation, Monroe Capital BDC Advisors, and their respective affiliates and employees. The company’s common stock is expected to begin trading on the NASDAQ Global Market under the symbol “MRCC” on October 25, 2012.
Robert W. Baird & Co., William Blair & Company, and Janney Montgomery Scott are serving as joint book-running managers for the initial public offering. BB&T Capital Markets and Stephens Inc. are serving as co-lead managers, and Ladenburg Thalmann & Co. and Wunderlich Securities are serving as co-managers for the initial public offering.
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.
Monroe Capital is a specialty finance company providing senior and junior debt to middle-market companies. Monroe Capital 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. The firm is based in Chicago (www.monroecap.com).
© 2012 PEPD • Private Equity’s Leading News Magazine • 10-25-12