September 19, 2016 - Gladstone Investment Corporation (NASDAQ: GAIN) announced the pricing of its public offering of 2,000,000 shares of 6.25% Series D Cumulative Term Preferred Stock at $25.00 per share. The underwriters were granted a 30-day option to purchase up to an additional 300,000 shares to cover any overallotments, which was fully exercised for total gross proceeds of $57.5 million. The Company will use the net proceeds from this offering to redeem all outstanding shares of its 7.125% Series A Cumulative Term Preferred Stock, to repay borrowings under the Company's credit facility and for other general corporate purposes.
Janney Montgomery Scott served as the lead book-running manager on this offering.
July 26, 2016 - Triangle Capital Corporation (NYSE: TCAP) announced the pricing of its public offering of 6,250,000 shares of common stock at an offering price of $19.90 per share. The underwriters were granted a 30-day option to purchase up to an additional 937,500 shares to cover any overallotments, which was partially exercised for total gross proceeds of $134.2 million. The Company intends to use the net proceeds from this offering to invest in lower middle market companies as soon as practicable, in accordance with its investment objective and strategies, and for working capital and general corporate purposes.
Janney Montgomery Scott served as a co-lead manager on this offering.
July 20, 2016 - Monroe Capital Corporation (NASDAQ: MRCC) announced the pricing of its public offering of 3,100,000 shares of common stock at an offering price of $15.50 per share. The underwriters were granted a 30-day option to purchase up to an additional 465,000 shares to cover any overallotments, which was fully exercised for total gross proceeds of $55.3 million. The Company intends to use the net proceeds from this offering to repay indebtedness under its credit facility, to invest in portfolio companies in accordance with its investment objective and strategies and for general corporate purposes. The Company may also use a portion of the net proceeds to fund investments by its SBIC subsidiary, MRCC SBIC, or to pay operating expenses.
Janney Montgomery Scott served as a joint book-running manager on this transaction.
Gladstone Investment Corporation is a publicly traded business development company that seeks to make debt and equity investments in small and mid-sized businesses in the United States in connection with acquisitions, changes in control and recapitalizations.
Triangle Capital Corporation invests capital in established companies in the lower middle market to fund growth, changes of control and other corporate events. The Company offers a wide variety of investment structures with a primary focus on mezzanine financing with equity components. Triangle Capital typically invests $5.0 million - $35.0 million per transaction in companies with annual revenues between $20.0 million and $200.0 million and EBITDA between $3.0 million and $35.0 million.
Monroe Capital LLC is a leading provider of senior and junior debt and equity co-investments to middle-market companies in the U.S. and Canada. Investment types include unitranche financings, cash flow and enterprise value based loans, asset based loans, acquisition facilities, mezzanine debt, second lien or last-out loans and equity co-investments.
