Monroe Capital Corp. has started a public offering of 2,850,000 of its common shares.
The company has granted underwriters the option to buy up to an additional 427,500 common shares at the public offering price to cover any overallotments. Based on the June 8 closing share price of $15.42 and assuming full exercise of the underwriters' option, S&P Global Market Intelligence calculates a gross offering size of about $50.5 million.
The company plans to use the net proceeds to repay debt, to invest in portfolio companies and for other general corporate purposes, including paying operating expenses.
Raymond James & Associates Inc., Robert W. Baird & Co. Inc. and Janney Montgomery Scott LLC are serving as joint book-running managers.