Monroe Capital IPO to watch: According to the latest amended regulatory filing submitted by the specialty finance company, it has applied to trade its common shares on the Nasdaq Global Market under the symbol “MRCC” through an initial public offering at a proposed maximum aggregate offering price of $80 million. After Monroe Capital IPO, the company will be an externally managed, closed-end, non-diversified management investment company under the Investment Company Act of 1940.
Robert W. Baird & Co. Incorporated, William Blair & Company, L.L.C. and Janney Montgomery Scott LLC are playing the roles of co-lead managers for Monroe Capital IPO. BB&T Capital Markets and Stephens Inc. are acting as the co-lead managers of this offering. The company also hires Ladenburg Thalmann and Wunderlich Securities as the co-managers for this transaction.
Monroe Capital Corp. was founded February 9, 2011 as a specialty finance company focused on providing financing solutions primarily to lower middle-market companies and its investment objective is to maximize the total return to our stockholders in the form of current income and capital appreciation through investment in senior, unitranche and junior secured debt and, to a lesser extent, unsecured subordinated debt and equity investments. The company plans to distribute quarterly dividends to the stockholders, from the first full quarter after Monroe Capital IPO.
Net proceeds from Monroe Capital IPO will be used for the payment of the term loan and the reasonable transaction costs associated with credit facility; to invest in portfolio companies complementary to its investment objectives and strategies; and for operating expenses.