Main Street Capital 8K Entry into a Material Definitive Agreement

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

__________________________________________________________________________

FORM 8-K

__________________________________________________________________________

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) September 11, 2024

__________________________________________________________________________

Main Street Capital Corporation

(Exact name of registrant as specified in its charter)


Maryland	001-33723	41-2230745
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)


1300 Post Oak Boulevard, 8th Floor, Houston, Texas						77056
(Address of principal executive offices)						(Zip Code)

Registrant's telephone number, including area code: 713-350-6000

Not Applicable

___________________________________________________________________________________

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


o			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol	Name of each exchange on which registered
Common Stock, par value $0.01 per share	MAIN	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 1.01 Entry into a Material Definitive Agreement.

On September 11, 2024, Main Street Capital Corporation (“Main Street”) entered into an underwriting agreement (the “Underwriting Agreement”) by and between Main Street and Truist Securities, Inc., as representative of the underwriters named in Schedule A thereto, in connection with the issuance and sale of an additional $100,000,000 in aggregate principal amount (the “Offering”) of Main Street’s 6.50% notes due 2027 (the “New Notes”). The New Notes were issued as additional notes under the Seventh Supplemental Indenture, dated June 4, 2024, between Main Street and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”), to the indenture, dated April 2, 2013, between Main Street and the Trustee (the “Base Indenture” and, together with the Seventh Supplemental Indenture, the “Indenture”), pursuant to which, on June 4, 2024, Main Street issued $300,000,000 in aggregate principal amount of its 6.50% notes due 2027 (the “Existing 2027 Notes” and, together with the New Notes, the “Notes”). The New Notes are treated as a single series with the Existing 2027 Notes under the Indenture and have the same terms as the Existing 2027 Notes, other than the issue date and offering price.

The New Notes will mature on June 4, 2027 unless previously redeemed or repurchased in accordance with their terms. The New Notes bear cash interest from June 4, 2024, at an annual rate of 6.50% payable semiannually on June 4 and December 4 of each year, beginning on December 4, 2024. The New Notes will have the same CUSIP number and are fungible and rank equally with the Existing 2027 Notes. Including the New Notes, the outstanding aggregate principal amount of Main Street’s 6.50% notes due 2027 is $400,000,000. The New Notes are direct unsecured obligations of Main Street and rank equally in right of payment with Main Street’s existing and future unsecured indebtedness but effectively subordinated to all of Main Street’s outstanding and future secured indebtedness, to the extent of the value of the assets securing such indebtedness, and structurally subordinated to the debt and other obligations of any of Main Street’s subsidiaries, financing vehicles or similar facilities.

Prior to May 4, 2027 (one month prior to the maturity date of the Notes) (the “Par Call Date”), Main Street may redeem the Notes at its option, in whole or in part, at any time or from time to time, at a redemption price (expressed as a percentage of principal amount and rounded to three decimal places) equal to the greater of: (1) (a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the redemption date (assuming the Notes matured on the Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate, as defined in the Indenture, plus 30 basis points less (b) interest accrued to the date of redemption, and (2) 100% of the principal amount of the Notes to be redeemed, plus, in either case, accrued and unpaid interest thereon to the redemption date. On or after the Par Call Date, Main Street may redeem the Notes, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the Notes being redeemed plus accrued and unpaid interest thereon to the redemption date. In addition, on the occurrence of a “change of control repurchase event,” as defined in the Indenture, holders of the Notes will have the right, at their option, to require Main Street to repurchase for cash some or all of the Notes at a repurchase price equal to 100% of the principal amount of the Notes being repurchased, plus accrued and unpaid interest to, but not including, the repurchase date.

The Indenture contains certain covenants, including covenants requiring Main Street to comply with the asset coverage requirements of Section 18(a)(1)(A), as modified by Section 61(a) of the Investment Company Act of 1940, as amended, whether or not it is subject to those requirements (but giving effect to exemptive relief granted to Main Street by the Securities and Exchange Commission (the “SEC”)), and to provide financial information to the holders of the Notes and the Trustee if Main Street is no longer subject to the reporting requirements under the Securities Exchange Act of 1934, as amended. These covenants are subject to important limitations and exceptions that are described in the Indenture.

The New Notes were issued and sold in a public offering that was made pursuant to Main Street’s effective shelf registration statement on Form N-2 (Registration No. 333-263258) previously filed with the SEC, as supplemented by a preliminary prospectus supplement dated September 11, 2024 and a final prospectus supplement dated September 11, 2024. The offering of New Notes closed and the New Notes were delivered and paid for on September 13, 2024. The net proceeds received by Main Street were approximately $101.3 million, after deducting the underwriting discounts and estimated offering expenses payable by Main Street.

Main Street intends to initially use the net proceeds from the offering of New Notes to repay outstanding indebtedness, including amounts outstanding under its credit facilities.

The foregoing description of the New Notes and the Indenture does not purport to be complete and is qualified in its entirety by reference to (i) the full text of the Underwriting Agreement filed with this Current Report on Form 8-K as Exhibit 1.1, which is incorporated herein by reference, (ii) the full text of the Seventh Supplemental Indenture and the accompanying Form of 6.50% Notes due 2027 , which are filed as Exhibits 4.1 and 4.2 to Main Street’s Current Report on Form 8-K filed on June 4, 2024 (File No. 1-33723) and incorporated herein by reference, and (iii) the full text of the Base

Indenture, a form of which is filed as Exhibit (d)(6) to Main Street’s Post-Effective Amendment No. 2 to its Registration Statement on Form N-2 filed on March 28, 2013 (Reg. No. 333-183555), which is incorporated herein by reference.

This Current Report on Form 8-K shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information contained in Item 1.01 of this Current Report on Form 8-K is incorporated by reference in this Item 2.03.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits


1.1			Underwriting Agreement, dated September 11, 2024, between Main Street Capital Corporation and Truist Securities, Inc. as representative of the underwriters named in Schedule A thereto
5.1			Opinion of Dechert LLP, dated September 13, 2024
23.1			Consent of Dechert LLP (included in Exhibit 5.1)
104			Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


	Main Street Capital Corporation

Date: September 13, 2024	By:	/s/ Jason B. Beauvais
		Name: Jason B. Beauvais
		Title: General Counsel

Main Street Capital (MAIN) 8-KEntry into a Material Definitive Agreement