HOUSTON, Aug. 11, 2022 /PRNewswire/ -- Main Street Capital Corporation (NYSE:MAIN) ("Main Street") is pleased to announce that it has priced a public underwritten offering of 1,170,000 shares of its common stock. Pricing was set at $42.85 per share, and net proceeds from the offering, after deducting underwriting discounts and estimated offering expenses payable by Main Street, are expected to be approximately $47.9 million. Main Street has also granted the underwriters an option, exercisable for 30 days, to purchase up to 175,500 additional shares of its common stock at the public offering price, less the underwriting discount.

Main Street intends to initially use the net proceeds from this offering, including the net proceeds from any exercise of the underwriters' option to purchase additional shares, to repay outstanding debt borrowed under its credit facility and then, through re-borrowing under the credit facility, to make investments in accordance with its investment objective and strategies, to make investments in marketable securities and idle funds investments, to pay operating expenses and other cash obligations, and for general corporate purposes.

The underwriters of this offering are RBC Capital Markets, UBS Investment Bank and Wells Fargo Securities (as joint bookrunners) and Hovde Group, LLC and Oppenheimer & Co. (as co-managers). The shares will be sold pursuant to an effective shelf registration statement on Form N-2 that has been filed with, and has been declared effective by, the U.S. Securities and Exchange Commission (the "SEC"). The offering is subject to customary closing conditions and is expected to close on August 15, 2022.

Investors should carefully consider, among other things, Main Street's investment objective and strategies and the risks related to Main Street and the offering before investing. The final prospectus supplement dated August 11, 2022, the accompanying prospectus dated March 3, 2022, any related free writing prospectus, and any information incorporated by reference in each, contain this and other information about Main Street.

The offering may be made only by means of a prospectus supplement and an accompanying prospectus, copies of which may be obtained from RBC Capital Markets, LLC, 200 Vesey Street, 8th Floor, New York, NY, 10281, Attn: Prospectus Department, or by telephone at (877) 822-4089, UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, telephone: (888) 827-7275 or email: ol-prospectusrequest@ubs.com and Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 30 Hudson Yards, New York, NY, 10001, by telephone: (800) 326-5897 or by email at cmclientsupport@wellsfargo.com.

This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sale of the shares referred to in this press release, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.

ABOUT MAIN STREET CAPITAL CORPORATION

Main Street (www.mainstcapital.com) is a principal investment firm that primarily provides long-term debt and equity capital to lower middle market companies and debt capital to middle market companies. Main Street's portfolio investments are typically made to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies that operate in diverse industry sectors. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides "one stop" financing alternatives within its lower middle market investment strategy. Main Street's lower middle market companies generally have annual revenues between $10 million and $150 million. Main Street's private loan and middle market debt investments are made in businesses that are generally larger in size than its lower middle market portfolio companies.

Main Street, through its wholly owned portfolio company MSC Adviser I, LLC ("MSC Adviser"), also maintains an asset management business through which it manages investments for external parties. MSC Adviser is registered as an investment adviser under the Investment Advisers Act of 1940, as amended.

FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking statements which are based upon Main Street management's current expectations and are inherently uncertain. Any such statements other than statements of historical fact are likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under Main Street's control, and that Main Street may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual performance and results could vary materially from these estimates and projections of the future as a result of a number of factors, including those described from time to time in Main Street's filings with the SEC. Such statements speak only as of the time when made and are based on information available to Main Street as of the date hereof and are qualified in their entirety by this cautionary statement. Main Street assumes no obligation to revise or update any such statement now or in the future.

Contacts:

Main Street Capital Corporation

Dwayne L. Hyzak, CEO, dhyzak@mainstcapital.com

Jesse E. Morris, CFO and COO, jmorris@mainstcapital.com

713-350-6000

Dennard Lascar Investor Relations

Ken Dennard | ken@dennardlascar.com

Zach Vaughan | zvaughan@dennardlascar.com

713-529-6600

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SOURCE Main Street Capital Corporation