Main Street Capital: Dennard Lascar Investor Relations – Form 8-K

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Dennard Lascar Investor Relations

Ken Dennard | [email protected]

Zach Vaughan | [email protected]

713-529-6600

The main street receives Board approval to reduce the asset coverage ratio to 150%

Main Street will seek shareholder approval at its 2022 annual meeting to begin enforcing the reduced asset coverage ratio the day after the 2022 annual meeting

HOUSTON, February 28, 2022 – Main Street Capital Corporation (NYSE: MAIN) (“Main Street”) is pleased to announce that it has received approval from its Board of Directors to reduce its minimum asset coverage ratio from 200% to 150% . The reduction in Main Street’s minimum asset coverage ratio is effected pursuant to section 61(a)(2) of the Investment Companies Act 1940, which provides that such approval shall take effect on the first anniversary from the administration board. approval. The board also approved the submission of a proposal to adopt the reduced minimum asset coverage ratio at Main Street’s 2022 annual meeting of shareholders, which, if approved, would take effect the following day. of the assembly. Main Street will provide additional details regarding the company’s objectives and anticipated expectations for the use of additional leverage in its proxy statement for the 2022 annual meeting of shareholders.

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 businesses that operate in various industry sectors. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally offers “one-stop-shop” financing solutions as part of its lower middle market investment strategy. Main Street lower-middle market businesses in general

have annual revenues between $10 million and $150 million. Investments in Main Street’s middle market debt are made in companies that are generally larger in size than the companies in its lower middle market portfolio.

Main Street, through its wholly owned holding company MSC Adviser I, LLC (“MSC Adviser”), also operates an asset management business through which it manages investments for third parties. MSC Adviser is registered as an investment adviser under the Investment Advisers Act 1940.

FORWARD-LOOKING STATEMENTS

This press release may contain certain forward-looking statements, including, but not limited to, the timing of Main Street’s adoption of the reduced minimum asset coverage ratio. All such statements other than statements of historical fact are subject to being affected by other unknown future events and conditions, including matters of the future which may or may not be within the control of Main Street, and which Main Street may whether or not to have taken into account; therefore, these statements cannot constitute guarantees or assurances as to any aspect of future performance. Actual performance and results could differ materially from these estimates and future projections due to a number of factors, including those described from time to time in Main Street’s filings with the Securities and Exchange Commission. These statements speak only as of the time they are made and are based on information available to Main Street as of the date hereof and are qualified in their entirety by this disclaimer. Main Street assumes no obligation to revise or update any such statement now or in the future.

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Warning

Main Street Capital Corporation published this content on February 28, 2022 and is solely responsible for the information contained therein. Distributed by publicunedited and unmodified, on February 28, 2022 3:57:08 PM UTC.

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Analyst Recommendations for MAIN STREET CAPITAL CORPORATION

Sales 2021 279M

Net income 2021 284M

Net debt 2021

PER 2021 ratio 10.4x
2021 performance 5.82%
Capitalization 2,997 million
2,997 million
capi. / Sales 2021 10.7x
capi. / Sales 2022 8.87x
# of employees 76
Floating 94.7%

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Medium consensus SURPASS
Number of analysts 4
Last closing price

$43.07

Average target price

$45.00

Average Spread / Target 4.48%


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