Main Street Capital Prices Public Offering Of 1.17 Mln Shares At $42.85/shr; Stock Down

Main Street Capital Corp. (MAIN) said that it has priced a public underwritten offering of 1.17 million shares of its common stock at $42.85 per share.

In Thursday regular trading, MAIN was trading at $42.76 down $2.12 or 4.73%.

The company expects net proceeds from the offering, after deducting underwriting discounts and estimated offering expenses payable by the company, to be about $47.9 million.

Main Street has also granted the underwriters an option, exercisable for 30 days, to purchase up to 175,500 additional shares of its common stock at the public offering price, less the underwriting discount.

The company plans to initially use the net proceeds from the offering to repay outstanding debt borrowed under its credit facility and for general corporate purposes.

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