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 LLC announced its role as sole lead arranger and administrative agent for a senior credit facility and equity co-investment to support Vector Capital's acquisition of MarkLogic Corporation. MarkLogic, located in San Carlos, California, is a premier provider of enterprise data integration solutions, serving over 2,500 clients across various sectors, including government and healthcare. This acquisition is expected to enhance MarkLogic's capabilities within the cloud data platform space, benefiting both firms and their stakeholders.
Monroe Capital Corporation (NASDAQ: MRCC) announced it will report Q3 2020 financial results on November 4, 2020, after market closure. A conference call will follow on November 5, 2020, at 2:00 pm ET, allowing investors to discuss these results. Monroe Capital Corporation specializes in investing in secured debt and equity in middle-market companies. The firm's investment objective focuses on maximizing total return for stockholders through current income and capital appreciation.
Monroe Capital LLC has acted as the sole lead arranger for an $11.5 million senior credit facility to aid Quest Resource Holding Corporation in acquiring Green Remedies Waste and Recycling Inc. This acquisition strengthens Quest's position in the environmental waste and recycling sector, particularly in multi-family housing markets. Additionally, Quest may access over $50 million in further term debt financing to support its growth initiatives.
Monroe Capital LLC has acted as the sole lead arranger and administrative agent for a senior credit facility supporting Apax Partners' acquisition of MyCase, Inc. MyCase is a cloud-based legal practice management software designed for efficiency and exceptional client experiences. It offers features like Lead Management, Billing, and robust Reporting. Monroe Capital specializes in private credit and has a history of providing financing solutions across diverse sectors since 2004. This acquisition enhances Monroe's lending portfolio in the growing legal tech market.
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Monroe Capital Corporation (NASDAQ: MRCC) has declared a $0.25 per share distribution for Q3 2020, payable on September 30, 2020, to stockholders of record as of September 16, 2020. The company has enacted a dividend reinvestment plan allowing stockholders to reinvest cash distributions into additional shares unless they opt for cash. Specific tax characteristics will be reported to stockholders on Form 1099. Monroe Capital focuses on senior, unitranche, junior secured debt, and equity investments in middle-market companies.
Monroe Capital Corporation (MRCC) reported strong financial results for Q2 2020, achieving a net investment income of $12.6 million ($0.61 per share) and adjusted net investment income of $12.8 million ($0.62 per share). The net asset value rose to $220.6 million ($10.37 per share), a 3.3% increase from the previous quarter. The company successfully reduced leverage from 1.47 to 1.16, primarily through portfolio paydowns, while maintaining a quarterly dividend of $0.25 per share. Key recovery from Rockdale Blackhawk contributed significantly to income, showcasing resilience amid COVID-19 challenges.
Monroe Capital Corporation (NASDAQ: MRCC) will announce its Q2 2020 financial results on August 5, 2020, after market close. A conference call to discuss the results is scheduled for August 6, 2020, at 12:00 PM ET. Investors can join via phone at (877) 312-8807 (conference ID #7495377) or through a webcast available on the company’s investor relations website. Monroe Capital focuses on investing in secured debt for middle-market companies, aiming to maximize stockholder returns through current income and capital appreciation.
Monroe Capital Corporation (MRCC) has announced the transition of its 2020 Annual Meeting of Stockholders to a virtual format due to health concerns stemming from the COVID-19 pandemic. The meeting is scheduled for June 17, 2020, at 2:00 p.m. Central Time. Stockholders eligible to vote must have held shares by April 1, 2020. Participants can join the meeting through a designated web portal, and are encouraged to vote in advance. Monroe Capital specializes in investments in secured debt and equity in middle-market companies, aiming to maximize returns for its shareholders.
Monroe Capital Corporation (MRCC) reported its Q1 2020 financial results, revealing a net investment income of $6.8 million or $0.33 per share. The company experienced a significant net decrease in assets of $36.9 million, resulting in a net asset value (NAV) decline of 18% to $205.4 million, or $10.04 per share. This was impacted by $45.1 million in unrealized mark-to-market losses due to COVID-19-related economic disruptions. To preserve capital, the second quarter dividend was reduced to $0.25 per share. 97% of portfolio companies met interest obligations in Q1 despite challenging conditions.