Monroe Capital Prices Public Offering Of 4.00 Mln Shares At $14.05/shr

(RTTNews) - Monroe Capital Corp. (MRCC) announced that it has priced an underwritten public offering of 4.00 million shares of its common stock at a public offering price of $14.05 per share, raising about $56.2 million in gross proceeds. The company said it has granted the underwriters an option to purchase up to an additional 600,000 shares of its common stock.

The company intends to use the net proceeds from the offering to repay indebtedness, to invest in portfolio companies in accordance with its investment objectives and for general corporation purposes.

The company said it may also use a portion of the proceeds to fund a Small Business Investment Company subsidiary, subject to obtaining a license from the Small Business Administration.

The company stated that it will also pay operating expenses, including management and administrative fees, and may pay other expenses from the net proceeds of the offering.

The closing of the transaction is subject to customary closing conditions. The shares are expected to be delivered on July 22, 2013.