Welcome to our dedicated page for Monroe Capital news (Ticker: MRCC), a resource for investors and traders seeking the latest updates and insights on Monroe Capital stock.
Monroe Capital Corporation (NASDAQ: MRCC) is a publicly traded specialty finance company and business development company that principally invests in senior, unitranche and junior secured debt and, to a lesser extent, unsecured debt and equity investments in middle-market companies. The MRCC news feed highlights company announcements that explain how this investment strategy is implemented over time.
News items for MRCC commonly include quarterly earnings releases, where the company reports Net Investment Income, Adjusted Net Investment Income, changes in net asset value, portfolio composition and leverage metrics. These releases provide detail on investment income, expenses, non-accrual levels and developments in joint ventures such as MRCC Senior Loan Fund I, LLC.
Investors can also follow distribution declarations, as MRCC regularly announces quarterly cash distributions and references its dividend reinvestment plan adopted in 2012. Press releases describe the per-share distribution amount, record date, payment date and indicate that tax characteristics will be reported on Form 1099 and in periodic SEC reports.
A key theme in recent MRCC news is its strategic transaction activity. The company has disclosed a definitive merger agreement under which MRCC would merge with and into Horizon Technology Finance Corporation (HRZN) in a NAV-for-NAV share exchange, as well as an Asset Purchase Agreement for the sale of substantially all of its investment assets to Monroe Capital Income Plus Corporation immediately prior to the merger. Related news from Horizon Technology Finance also discusses this planned combination and its implications for scale and capital.
Additional updates cover corporate actions such as the wind-down and dissolution of MRCC Senior Loan Fund I, LLC, conditional redemption notices for MRCC’s 4.75% Notes due 2026, and scheduling notices for upcoming earnings releases. For readers tracking MRCC, this news page brings together these earnings, distribution, transaction and capital structure announcements in one place for ongoing reference.
Monroe Capital Corporation (NASDAQ: MRCC) plans to report its first quarter 2021 financial results on May 4, 2021, after market close. A webcast and conference call to discuss these results will take place on May 5, 2021, at 11:00 AM ET. Investors can access the webcast via the company's Investor Relations page. Monroe Capital Corporation specializes in investing in secured and unsecured debt and equity investments focused on maximizing stockholder returns.
Monroe Capital Corporation (Nasdaq: MRCC) reported its fourth-quarter and full-year 2020 financial results on March 2, 2021. The company achieved a net investment income of $5.3 million for Q4 2020, aligning with its dividend of $0.25 per share. NAV increased to $234.4 million, or $11.00 per share, driven by market recovery. For the full year, net investment income reached $30.4 million, or $1.45 per share. The Board declared a quarterly distribution of $0.25 per share, payable on March 31, 2021. The company also reported significant debt refinancing with lower financing costs, enhancing future earnings potential.
MCAP Acquisition Corporation announced the pricing of its IPO, offering 27,500,000 units at $10.00 each, consisting of one Class A common stock and one-third of a redeemable warrant. The units will start trading on Nasdaq under the symbol 'MACQU' from February 26, 2021, with the offering expected to close on March 2, 2021. The company is formed for mergers or acquisitions and is sponsored by Monroe Capital LLC. The underwriters have a 45-day option to purchase an additional 4,125,000 units. Forward-looking statements highlight that the offering may not complete as planned.
Monroe Capital Corporation (NASDAQ: MRCC) will announce its fourth quarter and full year 2020 financial results on March 2, 2021, after market close. A conference call and webcast to discuss these results is scheduled for March 3, 2021, at 11:00 AM ET. Monroe Capital focuses on investing in senior, unitranche, and junior secured debt, along with other investment types, aiming to maximize shareholder returns through current income and capital appreciation.
Monroe Capital Corporation (NASDAQ: MRCC) has completed a public offering of $130 million in 4.75% notes due 2026. The funds will be utilized to redeem the outstanding 5.75% notes due 2023 and to pay down part of its credit facility, which had $114.9 million in outstanding debt as of January 12, 2021. The new notes will mature on February 15, 2026, with interest payments commencing August 15, 2021. Raymond James & Associates, Inc. served as the book-running manager for the offering.
Monroe Capital Corporation (NASDAQ: MRCC) priced a public offering of $130 million in 4.75% notes due 2026 on January 15, 2021. The notes will mature on February 15, 2026, with semi-annual interest payments starting August 15, 2021. Proceeds will be used to redeem existing 5.75% notes due 2023 and repay part of its credit facility, which had $114.9 million outstanding as of January 12, 2021. The offering, managed by Raymond James & Associates and others, is subject to customary conditions and is expected to close around January 25, 2021.
Monroe Capital LLC has announced it acted as the sole lead arranger and administrative agent for a senior credit facility to 3Cloud, LLC, a Gryphon Investors portfolio company. Founded in 2016, 3Cloud specializes in providing strategic advisory and technical services for the Microsoft Azure platform, helping clients with cloud infrastructure, application modernization, data analytics, and DevOps solutions. Monroe Capital, based in Chicago, is recognized for its expertise in private credit asset management, serving borrowers in the U.S. and Canada since 2004.
Monroe Capital Corporation (MRCC) has declared a fourth-quarter cash distribution of $0.25 per share, payable on December 31, 2020, to stockholders of record as of December 16, 2020. The company has implemented a dividend reinvestment plan for stockholders, allowing automatic reinvestment unless opted out prior to the record date. The specific tax characteristics of the distribution will be reported on Form 1099. Monroe Capital focuses on investments in secured and unsecured debt and equity in middle-market companies aiming for total return through current income and capital appreciation.
Monroe Capital announced a significant commitment, providing approximately $450 million in direct financing to over 20 women and minority-owned businesses. Ted Koenig, President & CEO, emphasized their ongoing dedication to supporting these businesses, viewing it as a vital community and business strategy. As of October 1, 2020, Monroe managed around $9.1 billion in capital and has invested over $18 billion in more than 1,350 transactions since its inception in 2004.
Monroe Capital Corporation (MRCC) reported third-quarter 2020 financial results with a net investment income of $5.6 million ($0.26 per share), down from $12.6 million in the previous quarter. Despite this decline, the net asset value (NAV) rose to $230.7 million ($10.83 per share), a 4.4% increase driven by net gains of $9.5 million. The company paid a quarterly dividend of $0.25 per share, fully covered by net investment income. Leverage decreased significantly to 0.90 times from 1.16, indicating improved financial stability.