HOUSTON, Dec. 29, 2016 /PRNewswire/ -- Main Street Capital
Corporation (NYSE: MAIN) ("Main Street") is pleased to announce
that Daseke, Inc. ("Daseke") recently entered into a definitive
merger agreement with Hennessy Capital Acquisition Corp. II
("HCAC"), a blank check company, under which HCAC would merge with
Daseke, taking a minority position, allowing Daseke to become a
NASDAQ-listed public company. This transaction is subject to
customary closing conditions, including regulatory and stockholder
approvals and the receipt of proceeds from the proposed debt and
equity financing activities, and is expected to close promptly
following HCAC's special meeting of stockholders to approve the
proposed transaction. The parties expect the merger will be
completed in the first quarter of 2017, and the completion of this
transaction will result in the repayment of Main Street's debt
investment and the exit of Main Street's equity investment in
Daseke.
Daseke is a leading consolidator of the open-deck trucking
market and the largest owner and operator of open-deck capacity in
North America. The Daseke family of companies offers daily
trucking services across the United
States, Canada and
Mexico, serving a variety of
diverse end markets with its fleet of more than 3,000 tractors and
6,000 flatbed and specialized trailers. Daseke provides
truckload and over dimensional large project moving and full
service logistics.
The completion of this transaction is expected to result in a
value received by Main Street that is greater than Main Street's
most recent fair market values for Main Street's investments in
Daseke, as disclosed in its most recent public filings.
ABOUT MAIN STREET CAPITAL CORPORATION
Main Street
(www.mainstcapital.com) is a principal investment firm that
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 companies that operate in diverse
industry sectors. Main Street seeks to partner with
entrepreneurs, business owners and management teams and generally
provides "one stop" financing alternatives within its lower middle
market portfolio. Main Street's lower middle market companies
generally have annual revenues between $10
million and $150 million. Main Street's middle market
debt investments are made in businesses that are generally larger
in size than its lower middle market portfolio companies.
Main Street's common stock trades on the New York Stock Exchange
("NYSE") under the symbol "MAIN." In addition, Main Street has
outstanding 6.125% Notes due 2023, which trade on the NYSE under
the symbol "MSCA."
FORWARD-LOOKING STATEMENTS
This press release may
contain certain forward-looking statements, including but not
limited to the completion of the transaction described, repayment
and exit of Main Street's related investments and the value
received therefore. Any such statements other than statements
of historical fact are likely to be affected by other unknowable
future events and conditions, including elements of the future that
are or are not under Main Street's control, and that Main Street
may or may not have considered; accordingly, such statements cannot
be guarantees or assurances of any aspect of future
performance. Actual performance and results could vary
materially from these estimates and projections of the
future. Such statements speak only as of the time when made
and are based on information available to Main Street as of the
date hereof and are qualified in their entirety by this cautionary
statement. Main Street assumes no obligation to revise or
update any such statement now or in the future.
Contacts:
Main Street Capital Corporation
Dwayne L. Hyzak, President &
COO, dhyzak@mainstcapital.com
Brent D. Smith, CFO,
bsmith@mainstcapital.com
713-350-6000
Dennard • Lascar Associates
Ken Dennard | ken@dennardlascar.com
Mark Roberson |
mroberson@dennardlascar.com
713-529-6600
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SOURCE Main Street Capital Corporation