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Monroe Capital Raises $56.2MM in Common Stock Offering

July 18, 2013, 07:52 AM
Filed Under: Industry News

Monroe Capital Corporation announced the pricing of an underwritten public offering of 4 million shares of its common stock at a public offering price of $14.05 per share, raising approximately $56.2 million in gross proceeds. The company has granted the underwriters an option to purchase up to an additional 600,000 shares of its common stock.

The company intends to use the net proceeds from the offering to repay indebtedness, to invest in portfolio companies in accordance with its investment objectives and for general corporation purposes. Subject to obtaining a license from the Small Business Administration, the company may also use a portion of the proceeds to fund a Small Business Investment Company subsidiary. The company will also pay operating expenses, including management and administrative fees, and may pay other expenses from the net proceeds of the offering.

Robert W. Baird & Co. Incorporated, William Blair & Company, and RBC Capital Markets, are serving as joint book-running managers for the offering. BB&T Capital Markets, a division of BB&T Securities LLC, Janney Montgomery Scott LLC, Oppenheimer & Co. Inc., Stephens Inc., Wunderlich Securities, Inc. and Ladenburg Thalmann & Co. Inc. are serving as co-managers for the offering. The closing of the transaction is subject to customary closing conditions. The shares are expected to be delivered on July 22, 2013.

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