Monroe Capital Corp. announced the pricing of an underwritten public offering of 3 million common shares at $15.00 per share for gross proceeds of about $45.0 million.
The offering was upsized from the previously announced issuance of 2,850,000 shares.
The company has granted the underwriters an option to purchase up to an additional 450,000 shares to cover any overallotments.
The offering is subject to customary closing conditions. The shares are expected to be delivered June 14.
Monroe Capital plans to use the net proceeds to repay debt, to invest in portfolio companies and for other general corporate purposes. The company will also pay operating expenses, including management and administrative fees, and may pay other expenses from the net proceeds.
Raymond James & Associates Inc., Robert W. Baird & Co. Inc. and Janney Montgomery Scott LLC are serving as joint book-running managers for the offering. William Blair & Co. LLC, Wunderlich Securities Inc., BB&T Capital Markets, National Securities Corp., Oppenheimer & Co. Inc., Ladenburg Thalmann & Co. Inc. and FBR Capital Markets & Co. are serving as co-managers for the offering.