HOUSTON, Jan. 28,
2025 /PRNewswire/ -- MSC Income Fund, Inc. ("MSC
Income" or the "Company"), an externally managed business
development company, today announced that it priced its public
offering of 5,500,000 shares of its common stock (the "Common
Stock") at $15.53 per share. MSC
Income's shares of Common Stock are expected to begin trading on
the New York Stock Exchange on January 29,
2025 under the symbol "MSIF." MSC Income also granted the
underwriters an option to purchase up to an additional 825,000
shares of Common Stock to cover overallotments, if any. The closing
of the offering is subject to customary closing conditions. The
shares are expected to be delivered on or about January 30, 2025.
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 was
filed with the U.S. Securities and Exchange Commission (the "SEC")
and was declared effective on January 28,
2025.
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 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 is being made only by means of
a 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 information about MSC Income's public
offering and the anticipated use of the net proceeds from the
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 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.
