Press Releases
Monroe Capital Corporation Files Registration Statement for Proposed Initial Public BDC Offering
Chicago, IL, March 4, 2011
Monroe Capital Corporation announced today that it has filed a registration statement on Form N-2 relating to a proposed initial public offering of shares of its common stock.
Monroe Capital Corporation (the “Company”) is an externally managed, closed-end, non-diversified management investment company that will elect to be treated as a business development company under the Investment Company Act of 1940. The Company will operate as a publicly traded investment fund managed by an affiliate of Monroe Capital LLC, a leading lender to middle-market companies. The Company will invest primarily in senior, unitranche and junior secured debt of middle-market companies.
The Company is proposing to offer to sell shares of common stock having an aggregate value on the date of issue of $150 million. The book-runners and managers for the offering are currently being assembled. The Company intends to use the net proceeds of the offering to repay indebtedness and invest the balance of the net proceeds in portfolio companies in accordance with the Company’s investment objective and strategies and for general corporate purposes, as described more fully in the prospectus contained in the registration statement.
About Monroe Capital
Monroe Capital is a private investment firm providing senior and junior debt and equity co-investments to middle-market companies in the U.S. and Canada. Investment types include one-stop financings, bridge loans, acquisition facilities, mezzanine debt, second lien or last-out loans, equity co-investments and acquisitions of distressed debt. Monroe Capital prides itself on its flexible investment approach and its ability to close and fund transactions quickly. Monroe is committed to being a value-added and user-friendly partner to owners, senior management and private equity sponsors. To learn more about Monroe Capital, visit www.monroecap.com.
A registration statement relating to the securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
Any public offering of securities to be made in the United States will be made by means of a prospectus and will contain detailed information about the Company and its management, as well as financial statements. The registration statement is available at www.sec.gov., a website maintained by the Securities and Exchange Commission.
Forward –Looking Statements
Statements in this press release relating to the Company’s intention to effect an initial public offering of its securities and the expectation that the Company intends to sell its securities in the proposed offering are forward-looking statements that involve a number of risks and uncertainties. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including business, financial market and economic conditions; the effect of the general economy on the industries in which the Company invests; a highly competitive market for investment opportunities; the Company’s business prospects and the prospects of its portfolio companies; the use of borrowed money to finance a portion of the Company’s investments; the adequacy of the Company’s financing sources and working capital; and other risk factors as described in the Company’s registration statement on Form N-2 filed in connection with the proposed initial public offering.
Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee that it will effect an initial public offering. Thus, you should not place undue reliance on these forward-looking statements.