HOUSTON, Jan. 21,
2025 /PRNewswire/ -- MSC Income Fund, Inc. ("MSC
Income" or the "Company"), an externally managed business
development company, today announced that it has commenced a public
offering of 4,850,000 shares of its common stock. The public
offering price per share of the common stock is expected to be
$15.53. MSC Income is expected to
list its common stock on the New York Stock Exchange under the
symbol "MSIF." MSC Income expects to grant the underwriters an
option to purchase up to an additional 727,500 shares of common
stock to cover over-allotments, if any. The completion of the
proposed offering depends upon several factors, including market
and other conditions, and there can be no assurance as to whether
or when the proposed offering may be completed, or as to the actual
size or terms of the proposed offering.
MSC Income intends to initially use all of the net proceeds from
this offering to repay outstanding debt borrowed under its credit
facilities, and then through re-borrowing under the credit
facilities, to make investments in accordance with its investment
objective and strategies, pay operating expenses and other cash
obligations, and for general corporate purposes.
RBC Capital Markets, Truist Securities, Raymond James, UBS Investment Bank and Keefe,
Bruyette & Woods, A Stifel Company, are acting as
joint book-running managers for the offering. B. Riley Securities,
Citizens JMP, Sanders Morris, Clear Street, Comerica Securities,
Texas Capital Securities and Zions Capital Markets are acting as
co-managers for the offering.
A registration statement relating to these securities has
been filed with the U.S. Securities and Exchange Commission (the
"SEC") 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. No offer to buy the
securities can be accepted and no part of the purchase price can be
received until the registration statement has become effective, and
any such offer may be withdrawn or revoked by you without
obligation or commitment of any kind, at any time prior to the time
you receive notice of an acceptance of the offer given after the
effective date.
Investors are advised to carefully consider the investment
objectives, risks and charges and expenses of MSC Income before
investing. The preliminary prospectus, dated January 21, 2025, contains this and other
information about MSC Income and should be read carefully before
investing. The information in the registration statement and
preliminary prospectus is not complete and may be changed.
This press release will not constitute an offer to sell or
the solicitation of an offer to buy the securities described above
nor shall there be any sale of such securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to their registration or qualification under the
securities laws of any such state or jurisdiction. Offers of these
securities are made only by means of the prospectus. The SEC has
not approved or disapproved these securities or passed upon the
adequacy of the preliminary prospectus. Any representation to the
contrary is a criminal offense.
The offering of these securities will be made only by means of a
preliminary prospectus forming part of the registration statement,
copies of which may be obtained, when available, from: RBC Capital
Markets, LLC, 200 Vesey Street, 8th Floor, New York, NY 10281-8098; Attention: Equity
Syndicate; Phone: 877-822-4089; Email:
equityprospectus@rbccm.com.
ABOUT MSC INCOME FUND, INC.
The Company is a principal investment firm that primarily
provides debt capital to private companies owned by or in the
process of being acquired by a private equity fund and also
provides customized long-term debt and equity capital solutions to
lower middle market companies. The Company's portfolio investments
are typically made to support leveraged buyouts, recapitalizations,
growth financings, refinancings and acquisitions of companies that
operate in diverse industry sectors. The Company seeks to partner
with private equity fund sponsors and primarily invests in secured
debt investments within its private loan investment strategy. The
Company seeks to partner with entrepreneurs, business owners and
management teams and generally provides customized "one-stop" debt
and equity financing solutions within its lower middle market
investment strategy. The Company's private loan portfolio companies
generally have annual revenues between $25
million and $500 million. The
Company's lower middle market portfolio companies generally have
annual revenues between $10 million
and $150 million.
ABOUT MSC ADVISER I, LLC
MSC Adviser I, LLC is a wholly owned subsidiary of Main Street
Capital Corporation (NYSE: MAIN) that is registered as an
investment adviser under the Investment Advisers Act of 1940, as
amended. It currently manages investments for external
parties, including the Company.
FORWARD-LOOKING STATEMENTS AND OTHER MATTERS
MSC Income cautions that statements in this press release which
are forward-looking and provide other than historical information,
including but not limited to the timing, size and other terms of
the proposed offering and the anticipated use of the net proceeds
from this offering, are based on current conditions and information
available to MSC Income as of the date hereof. Although its
management believes that the expectations reflected in those
forward-looking statements are reasonable, MSC Income can give no
assurance that those expectations will prove to be correct. Those
forward-looking statements are made based on various underlying
assumptions and are subject to numerous uncertainties and risks,
including, without limitation, such factors described under the
captions "Cautionary Statement Concerning Forward-Looking
Statements" and "Risk Factors" included in MSC Income's filings
with the Securities and Exchange Commission (the "SEC")
(www.sec.gov). All forward-looking statements speak only as of the
date of this communication. MSC Income undertakes no
obligation to update the information contained herein to reflect
subsequently occurring events or circumstances, except as required
by applicable securities laws and regulations.
Contacts:
MSC Income Fund, Inc.
Dwayne L. Hyzak, CEO,
dhyzak@mainstcapital.com
Cory E. Gilbert, CFO,
cgilbert@mainstcapital.com
713-350-6000
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SOURCE MSC Income Fund, Inc.