Main Street Receives Shareholder Approval to Reduce Asset Coverage Ratio to 150%
HOUSTON, May 3, 2022 /PRNewswire/ — Main Street Capital Corporation MAIN (“Main Street”) is pleased to report that at its 2022 annual meeting of shareholders, it received shareholder approval to reduce its minimum asset coverage ratio from 200% to 150%. The change to Main Street’s minimum asset coverage ratio is effective immediately. The reduction in the Main Street Minimum Asset Coverage Ratio is made pursuant to Section 61(a)(2) of the Investment Companies Act 1940.
ABOUT MAIN STREET CAPITAL CORPORATION
Main Street (www.mainstcapital.com) is a primary investment company that primarily provides long-term debt and equity capital to lower-middle-market companies and debt capital to middle-market companies. Main Street’s portfolio investments are typically made to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of businesses that operate in various industry sectors. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally offers “one-stop” financing solutions as part of its lower middle market investment strategy. Lower-middle-market businesses on Main Street typically have annual revenues between $10 million and $150 million. Investments in Main Street’s middle market debt are made in companies that are generally larger in size than the companies in its lower middle market portfolio.
Main Street, through its wholly owned holding company MSC Adviser I, LLC (“MSC Adviser”), also operates an asset management business through which it manages investments for third parties. MSC Adviser is registered as an investment adviser under the Investment Advisers Act 1940.
This press release may contain certain forward-looking statements. All such statements other than statements of historical fact are subject to being affected by other unknown future events and conditions, including matters of the future which may or may not be within the control of Main Street, and which Main Street may whether or not to have taken into account; therefore, these statements cannot constitute guarantees or assurances as to any aspect of future performance. Actual performance and results could differ materially from these estimates and future projections due to a number of factors, including those described from time to time in Main Street’s filings with the Securities and Exchange Commission. These statements speak only as of the time they are made and are based on information available to Main Street as of the date hereof and are qualified in their entirety by this disclaimer. Main Street assumes no obligation to revise or update any such statement now or in the future.
SOURCE Main Street Capital Corporation