Main Street underwriters exercise greenshoe option

|About: Main Street Capital (MAIN)|By:, SA News Editor

The underwriters on Main Street Capital's (MAIN) 4M share secondary fully exercise their greenshoe option and expect to purchase 600K shares of common stock at $29.75 per share - which is where the Aug. 13 offering priced at and where the stock closed today.

Total net proceeds to Main Street Capital are about $131.4M. Main Street will use the money initially to pay down its line of credit, but expects to re-borrow as it finds new investments.