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Main Street Announces New Portfolio Investment

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Main Street Announces Tax Treatment of 2012, 2013 and 2014 Dividends for Non-U.S. Resident Shareholders

HOUSTON, Feb. 16, 2016 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") announced today that it recently led a new portfolio investment totaling $15.0 million of invested capital. Main Street also announced that it recently posted information regarding the tax treatment of its dividends that are attributable to 2012, 2013 and 2014 for non-U.S. resident shareholders on its website (http://mainstcapital//Tax Treatment of Dividends for Non-U.S. Resident Shareholders). 

New Portfolio Investment

Main Street recently led a new portfolio investment totaling $15.0 million of invested capital in UniRush, LLC ("UniRush" or the "Company") to fund the Company's growth initiatives and refinance existing debt, with Main Street funding $12.0 million of the investment. The investment in UniRush consisted of first-lien, senior secured term debt. In addition, Main Street and its co-investor provided UniRush a $5.0 million delayed draw term loan facility to support its future growth opportunities.

Headquartered in Cincinnati, Ohio and founded in 2003, UniRush is a leading provider of prepaid debit card solutions branded under the "RushCard" (www.rushcard.com) and "Rapid PayCard" (www.rapidpaycard.com) programs. RushCard was one of the first prepaid, reloadable Visa debit card programs, and provides financial services for the more than 65 million individuals in the United States who cannot or choose not to establish a traditional banking relationship. Rapid PayCard is a provider of prepaid, payroll debit cards for employers as an alternative to issuing paper checks to employees.

Tax Treatment of 2012, 2013 and 2014 Dividends for Non-U.S. Resident Shareholders

Non-U.S. resident shareholders in a Regulated Investment Company ("RIC") such as Main Street are exempt from U.S. withholding tax on both "interest-related" dividends and short-term capital gains in accordance with the Internal Revenue Code sections 871(k) and 881(e).  Main Street has posted on its website the percentages that approximate the portion of Main Street's 2012, 2013 and 2014 dividends that constitute interest-related dividends and short-term capital gains dividends for U.S. federal tax purposes.  The percentages of Main Street's 2015 dividends that constitute interest-related dividends and short-term capital gains dividends for U.S. federal tax purposes were previously provided in that certain Main Street press release dated January 26, 2016.  The percentages should be combined with the percentage of each dividend that is related to long-term capital gains to derive the total percentage of each dividend that is exempt from U.S federal withholding taxes.  To the extent non-U.S. resident shareholder taxes were withheld on dividends distributed, this information may be considered in connection with any claims for refund of taxes with the U.S. Internal Revenue Service.  Non-U.S. resident shareholders should contact their tax advisor with any questions regarding this information.  See the information for each of 2012, 2013, 2014 and 2015 as posted on Main Street's website for more details (http://mainstcapital//Tax Treatment of Dividends for Non-U.S. Resident Shareholders). 

ABOUT MAIN STREET CAPITAL CORPORATION

Main Street (www.mainstcapital.com) is a principal investment firm that provides long-term debt and equity capital to lower middle market companies and debt capital to middle market companies. Main Street's portfolio investments are typically made to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies that operate in diverse industry sectors.  Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides "one stop" financing alternatives within its lower middle market portfolio.  Main Street's lower middle market companies generally have annual revenues between $10 million and $150 million.  Main Street's middle market debt investments are made in businesses that are generally larger in size than its lower middle market portfolio companies.

Main Street's common stock trades on the New York Stock Exchange ("NYSE") under the symbol "MAIN." In addition, Main Street has outstanding 6.125% Notes due 2023, which trade on the NYSE under the symbol "MSCA."

Contacts:
Main Street Capital Corporation
Dwayne L. Hyzak, President & COO, dhyzak@mainstcapital.com
Brent D. Smith, CFO, bsmith@mainstcapital.com  
713-350-6000

Dennard - Lascar Associates
Ken Dennard  |  ken@dennardlascar.com  
Jenny Zhou |  jzhou@dennardlascar.com 
713-529-6600

 

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SOURCE Main Street Capital Corporation