Monroe Capital Prices Share Offering

Monroe Capital fell about 3% after the company said Friday it priced an underwritten public offering of 3 million shares at $15 each, expecting to raise approximately $45.0 million in gross proceeds. It granted the underwriters a 30-day option to purchase up to an additional 450,000 shares of its common stock to cover over-allotments, if any.

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 other general corporate purposes. The company will also pay operating expenses, including management and administrative fees, and may pay other expenses from the net proceeds of this offering, it said in a press release.

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