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TABLE OF CONTENTS

Table of Contents

As filed with the Securities and Exchange Commission on April 30, 2019

Securities Act File No. 333-          


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Form N-2
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933

Main Street Capital Corporation
(Exact name of registrant as specified in charter)

1300 Post Oak Boulevard, 8th Floor
Houston, TX 77056
(713) 350-6000
(Address and telephone number, including area code, of principal executive offices)

Dwayne L. Hyzak
Chief Executive Officer
Main Street Capital Corporation
1300 Post Oak Boulevard, 8th Floor
Houston, TX 77056

(Name and address of agent for service)


COPIES TO:

Jason B. Beauvais
Senior Vice President, General Counsel,
Chief Compliance Officer and Secretary
Main Street Capital Corporation
1300 Post Oak Boulevard, 8th Floor
Houston, TX 77056

 

Harry S. Pangas, Esq.
Dechert LLP
1900 K Street, NW
Washington, DC 20006-1110

Approximate date of proposed public offering: From time to time after the effective date of this Registration Statement.

         If any securities being registered on this form will be offered on a delayed or continuous basis in reliance on Rule 415 under the Securities Act of 1933, other than securities offered in connection with a dividend reinvestment plan, check the following box.    ý

         It is proposed that this filing will become effective (check appropriate box): o when declared effective pursuant to section 8(c).

CALCULATION OF REGISTRATION FEE UNDER THE SECURITIES ACT OF 1933

           
 
Title of Securities Being Registered
  Amount Being
Registered

  Proposed Maximum
Aggregate Offering
Price(1)

  Amount of
Registration Fee

 

Common Stock, $0.01 par value per share(2)

           
 

Preferred Stock(2)

           
 

Subscription Rights(2)

           
 

Debt Securities(3)

           
 

Total

  $1,500,000,000   $1,500,000,000(4)   $181,800(5)

 

(1)
Estimated solely for the purpose of calculating the registration fee. Pursuant to Rule 457(o) of the rules and regulations under the Securities Act of 1933, as amended (the "Securities Act"), which permits the registration fee to be calculated on the basis of the maximum offering price of all the securities listed, the table does not specify by each class information as to the amount to be registered, proposed maximum offering price per unit or proposed maximum aggregate offering price.

(2)
Subject to Note 4 below, there is being registered hereunder an indeterminate amount of common stock, preferred stock or subscription rights as may be sold, from time to time.

(3)
Subject to Note 4 below, there is being registered hereunder an indeterminate amount of debt securities as may be sold, from time to time. If any debt securities are issued at an original issue discount, then the offering price shall be in such greater principal amount as shall result in an aggregate price to investors not to exceed $1,500,000,000.

(4)
In no event will the aggregate offering price of all securities issued from time to time pursuant to this registration statement exceed $1,500,000,000.

(5)
Prior to filing this registration statement, $1,149,584,130 of securities remained unregistered and unsold pursuant to Registration Statement No. 333-223483 (the "Unsold Securities"), which was initially filed on March 7, 2018 and initially declared effective on April 27, 2018. Pursuant to Rule 457(p) under the Securities Act, the $143,123 fee paid to register the Unsold Securities is offset against the currently due filing fee of $181,800 in connection with the registration of $1,500,000,000 of securities, and the remaining $38,677 is being paid herewith.

   


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EXPLANATORY NOTE

        We have filed this registration statement on Form N-2 using the "shelf" registration process as a "well-known seasoned issuer" as defined in Rule 405 under the Securities Act of 1933, as amended, or the Securities Act. As such, pursuant to the Small Business Credit Availability Act, this registration statement shall become effective upon filing with the Securities and Exchange Commission pursuant to Rule 462(e) under the Securities Act.


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PROSPECTUS

$1,500,000,000

LOGO

Common Stock
Preferred Stock
Subscription Rights
Debt Securities



           We may offer, from time to time in one or more offerings, up to $1,500,000,000 of our common stock, preferred stock, subscription rights or debt securities, which we refer to, collectively, as the "securities." Our securities may be offered at prices and on terms to be disclosed in one or more supplements to this prospectus. The offering price per share of our common stock, less any underwriting commissions or discounts, will not be less than the net asset value per share of our common stock at the time of the offering, except (i) with the requisite approval of our common stockholders or (ii) under such other circumstances as the Securities and Exchange Commission may permit. We did not seek stockholder authorization to issue common stock at a price below net asset value per share at our 2018 annual meeting of stockholders, and we are not seeking such approval at our 2019 annual meeting of stockholders, because our common stock price per share has been trading significantly above the current net asset value per share of our common stock, but we may seek such authorization at future annual meetings or special meetings of stockholders. Sales of common stock at prices below net asset value per share dilute the interests of existing stockholders, have the effect of reducing our net asset value per share and may reduce our market price per share. In addition, we have received stockholder approval to issue warrants, options or rights to subscribe for, convert to, or purchase shares of our common stock at a price per share below the net asset value per share subject to the applicable requirements of the Investment Company Act of 1940, as amended. There is no expiration date on our ability to issue such warrants, options, rights or convertible securities based on this stockholder approval. Moreover, continuous sales of common stock below net asset value may have a negative impact on total returns and could have a negative impact on the market price of our shares of common stock. See "Sales of Common Stock Below Net Asset Value."

           Shares of closed-end investment companies such as us frequently trade at a discount to their net asset value. This risk is separate and distinct from the risk that our net asset value per share may decline. We cannot predict whether our common stock will trade above, at or below net asset value. You should read carefully the information contained or incorporated by reference in this prospectus, the applicable prospectus supplement and in any free writing prospectuses we have authorized for use in connection with a specific offering before you invest in our common stock.

           Our securities may be offered to one or more purchasers directly by us, through agents designated from time to time by us, or to or through underwriters or dealers. The prospectus supplement relating to the offering will identify any agents or underwriters involved in the sale of our securities, and will disclose any applicable purchase price, fee, commission or discount arrangement between us and our agents or underwriters or among our underwriters or the basis upon which such amount may be calculated. See "Plan of Distribution."

           We are a principal investment firm primarily focused on providing customized debt and equity financing to lower middle market ("LMM") companies and debt capital to middle market ("Middle Market") companies. Our LMM companies generally have annual revenues between $10 million and $150 million, and our LMM portfolio investments generally range in size from $5 million to $50 million. Our Middle Market investments are made in businesses that are generally larger in size than our LMM portfolio companies, with annual revenues typically between $150 million and $1.5 billion, and our Middle Market investments generally range in size from $3 million to $20 million.

           The LMM and Middle Market securities in which we invest generally would be rated below investment grade if they were rated by rating agencies. Below investment grade securities, which are often referred to as "junk," have predominantly speculative characteristics with respect to the issuer's capacity to pay interest and repay principal. They may also be difficult to value and are illiquid.

           Our principal investment objective is to maximize our portfolio's total return by generating current income from our debt investments and capital appreciation from our equity and equity related investments, including warrants, convertible securities and other rights to acquire equity securities in a portfolio company.

           We are an internally managed, closed-end, non-diversified management investment company that has elected to be treated as a business development company under the Investment Company Act of 1940, as amended.

           Our common stock is listed on the New York Stock Exchange ("NYSE") under the symbol "MAIN." On April 29, 2019, the last reported sale price of our common stock on the NYSE was $39.27 per share, and the net asset value per share of our common stock on December 31, 2018 (the last date prior to the date of this prospectus on which we determined our net asset value per share) was $24.09.



           Investing in our securities involves a high degree of risk, and should be considered highly speculative. You should review carefully the risks and uncertainties, including the risk of leverage and dilution, described in the section titled "Risk Factors" included in, or incorporated by reference into, the applicable prospectus supplement and in any free writing prospectuses we have authorized for use in connection with a specific offering, and under similar headings in the other documents that are incorporated by reference into this prospectus before investing in our securities.

           This prospectus describes some of the general terms that may apply to an offering of our securities. We will provide the specific terms of these offerings and securities in one or more supplements to this prospectus. We may also authorize one or more free writing prospectuses to be provided to you in connection with these offerings. The prospectus supplement and any related free writing prospectus may also add, update, or change information contained in this prospectus. You should carefully read this prospectus, the applicable prospectus supplement, and any related free writing prospectus, and the documents incorporated by reference, before buying any of the securities being offered. We file annual, quarterly and current reports, proxy statements and other information with the Securities and Exchange Commission, or SEC. This information is available free of charge by contacting us at 1300 Post Oak Boulevard, 8th Floor, Houston, Texas 77056 or by telephone at (713) 350-6000 or on our website at www.mainstcapital.com. Information contained on our website is not incorporated by reference into this prospectus, and you should not consider that information to be part of this prospectus. The SEC also maintains a website at www.sec.gov that contains such information.

           Neither the Securities and Exchange Commission nor any state securities commission, nor any other regulatory body, has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.



   

The date of this prospectus is April 30, 2019


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TABLE OF CONTENTS

 
  Page  

Prospectus Summary

    1  

Fees and Expenses

    9  

Risk Factors

    11  

Cautionary Statement Concerning Forward-Looking Statements

    12  

Use of Proceeds

    13  

Price Range of Common Stock

    14  

Senior Securities

    15  

Portfolio Companies

    16  

Sales of Common Stock Below Net Asset Value

    48  

Dividend Reinvestment and Direct Stock Purchase Plan

    53  

Description of Common Stock

    54  

Description of Our Preferred Stock

    61  

Description of Our Subscription Rights

    62  

Description of Our Debt Securities

    63  

Material U.S. Federal Income Tax Considerations

    77  

Plan of Distribution

    85  

Custodian, Transfer and Distribution Paying Agent and Registrar

    87  

Brokerage Allocation and Other Practices

    87  

Legal Matters

    87  

Independent Registered Public Accounting Firm

    87  

Available Information

    88  

Incorporation by Reference

    88  

Privacy Notice

    89  

        This prospectus is part of an automatic registration statement that we have filed with the Securities and Exchange Commission, or SEC, using the "shelf" registration process as a "well-known seasoned issuer" as defined in Rule 405 under the Securities Act of 1933, as amended (the "Securities Act"). Under this shelf registration statement, we may offer, from time to time in one or more offerings, up to $1,500,000,000 of our securities, either individually or in combination with other securities described in this prospectus, on terms to be determined at the time of the offering. This prospectus provides you with a general description of the securities that we may offer. Each time we use this prospectus to offer securities, we will provide a prospectus supplement that will contain specific information about the terms of that offering. We may also authorize one or more free writing prospectuses to be provided to you that may contain material information relating to these offerings. In a prospectus supplement or free writing prospectus, we may also add, update, or change any of the information contained in this prospectus or in the documents we have incorporated by reference into this prospectus. This prospectus, together with the applicable prospectus supplement, any related free writing prospectus, and the documents incorporated by reference into this prospectus and the applicable prospectus supplement, will include all material information relating to the applicable offering. Before buying any of the securities being offered, you should carefully read both this prospectus and the applicable prospectus supplement and any related free writing prospectus, together with the additional information described in the section titled "Available Information."

        This prospectus may contain estimates and information concerning our industry that are based on industry publications and reports. This information involves many assumptions and limitations, and you are cautioned not to give undue weight to these estimates. We have not independently verified the accuracy or completeness of the data contained in these industry publications and reports. The industry in which we operate is subject to a high degree of uncertainty and risk due to a variety of factors, including those described in the section titled "Risk Factors," that could cause results to differ materially from those expressed in these publications and reports.

        This prospectus includes summaries of certain provisions contained in some of the documents described in this prospectus, but reference is made to the actual documents for complete information. All of the summaries are qualified in their entirety by the actual documents. Copies of some of the


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documents referred to herein have been filed, will be filed, or will be incorporated by reference as exhibits to the registration statement of which this prospectus is a part, and you may obtain copies of those documents as described in the section titled "Available Information."

        You should rely only on the information included or incorporated by reference in this prospectus, any prospectus supplement or in any free writing prospectus prepared by or on behalf of us or to which we have referred you. We have not authorized any dealer, salesperson or other person to provide you with different information or to make representations as to matters not stated in this prospectus, any prospectus supplement or in any free writing prospectus prepared by or on behalf of us or to which we have referred you. We take no responsibility for, and can provide no assurance as to the reliability of, any other information that others may give you. If anyone provides you with different or inconsistent information, you should not rely on it. This prospectus, any applicable prospectus supplement and any free writing prospectus prepared by or on behalf of us or to which we have referred you do not constitute an offer to sell, or a solicitation of an offer to buy, any securities by any person in any jurisdiction where it is unlawful for that person to make such an offer or solicitation or to any person in any jurisdiction to whom it is unlawful to make such an offer or solicitation. You should not assume that the information included or incorporated by reference in this prospectus or any prospectus supplement or in any such free writing prospectus is accurate as of any date other than their respective dates.


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PROSPECTUS SUMMARY

        This summary highlights information included elsewhere in this prospectus or incorporated by reference. It is not complete and may not contain all of the information that you should consider before making your investment decision. You should carefully read the entire prospectus, the applicable prospectus supplement, and any related free writing prospectus, including the risks of investing in our securities discussed in the section titled "Risk Factors" in the applicable prospectus supplement and any related free writing prospectus, and under similar headings in the other documents that are incorporated by reference into this prospectus. Before making your investment decision, you should also carefully read the information incorporated by reference into this prospectus, including our financial statements and related notes, and the exhibits to the registration statement of which this prospectus is a part. Any yield information contained or incorporated by reference in this prospectus related to debt investments in our investment portfolio is not intended to approximate a return on your investment in us and does not take into account other aspects of our business, including our operating and other expenses, or other costs incurred by you in connection with your investment in us.

Organization

        Main Street Capital Corporation ("MSCC") is a principal investment firm primarily focused on providing customized debt and equity financing to lower middle market ("LMM") companies and debt capital to middle market ("Middle Market") companies. The portfolio investments of MSCC and its consolidated subsidiaries are typically made to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies that operate in a variety of industry sectors. MSCC seeks to partner with entrepreneurs, business owners and management teams and generally provides "one stop" financing alternatives within its LMM portfolio. MSCC and its consolidated subsidiaries invest primarily in secured debt investments, equity investments, warrants and other securities of LMM companies based in the United States and in secured debt investments of Middle Market companies generally headquartered in the United States.

        MSCC was formed in March 2007 to operate as an internally managed business development company ("BDC") under the Investment Company Act of 1940, as amended (the "1940 Act"). MSCC wholly owns several investment funds, including Main Street Mezzanine Fund, LP ("MSMF"), Main Street Capital II, LP ("MSC II") and Main Street Capital III, LP ("MSC III" and, collectively with MSMF and MSC II, the "Funds"), and each of their general partners. The Funds are each licensed as a Small Business Investment Company ("SBIC") by the United States Small Business Administration ("SBA"). Because MSCC is internally managed, all of the executive officers and other employees are employed by MSCC. Therefore, MSCC does not pay any external investment advisory fees, but instead directly incurs the operating costs associated with employing investment and portfolio management professionals.

        MSC Adviser I, LLC (the "External Investment Manager") was formed in November 2013 as a wholly owned subsidiary of MSCC to provide investment management and other services to parties other than MSCC and its subsidiaries or their portfolio companies ("External Parties") and receives fee income for such services. MSCC has been granted no-action relief by the Securities and Exchange Commission ("SEC") to allow the External Investment Manager to register as a registered investment adviser under the Investment Advisers Act of 1940, as amended. Since the External Investment Manager conducts all of its investment management activities for External Parties, it is accounted for as a portfolio investment of MSCC and is not included as a consolidated subsidiary of MSCC in MSCC's consolidated financial statements.

        MSCC has elected to be treated for U.S. federal income tax purposes as a regulated investment company ("RIC") under Subchapter M of the Internal Revenue Code of 1986, as amended (the

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"Code"). As a result, MSCC generally will not pay corporate-level U.S. federal income taxes on any net ordinary taxable income or capital gains that it distributes to its stockholders.

        MSCC has certain direct and indirect wholly owned subsidiaries that have elected to be taxable entities (the "Taxable Subsidiaries"). The primary purpose of the Taxable Subsidiaries is to permit MSCC to hold equity investments in portfolio companies which are "pass-through" entities for tax purposes.

        Unless otherwise noted or the context otherwise indicates, the terms "we," "us," "our," the "Company" and "Main Street" refer to MSCC and its consolidated subsidiaries, which include the Funds and the Taxable Subsidiaries.

        The following diagram depicts our organizational structure:

GRAPHIC


*
Other Holding Companies includes the Taxable Subsidiaries and other entities formed for operational purposes. Each of these companies is directly or indirectly wholly owned by MSCC.

**
The External Investment Manager is accounted for as a portfolio investment at fair value, as opposed to a consolidated subsidiary, and is indirectly wholly owned by MSCC.

Overview

        Our principal investment objective is to maximize our portfolio's total return by generating current income from our debt investments and capital appreciation from our equity and equity-related investments, including warrants, convertible securities and other rights to acquire equity securities in a portfolio company. Our LMM companies generally have annual revenues between $10 million and $150 million, and our LMM portfolio investments generally range in size from $5 million to $50 million. Our Middle Market investments are made in businesses that are generally larger in size than our LMM portfolio companies, with annual revenues typically between $150 million and $1.5 billion, and our Middle Market investments generally range in size from $3 million to $20 million. Our private loan ("Private Loan") portfolio investments are primarily debt securities in privately held companies which have been originated through strategic relationships with other investment funds on a collaborative basis. Private Loan investments are typically similar in size, structure, terms and conditions to investments we hold in our LMM portfolio and Middle Market portfolio.

        We seek to fill the financing gap for LMM businesses, which, historically, have had limited access to financing from commercial banks and other traditional sources. The underserved nature of the LMM creates the opportunity for us to meet the financing needs of LMM companies while also negotiating favorable transaction terms and equity participations. Our ability to invest across a company's capital structure, from secured loans to equity securities, allows us to offer portfolio companies a comprehensive suite of financing options, or a "one stop" financing solution. Providing customized,

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"one stop" financing solutions is important to LMM portfolio companies. We generally seek to partner directly with entrepreneurs, management teams and business owners in making our investments. Our LMM portfolio debt investments are generally secured by a first lien on the assets of the portfolio company and typically have a term of between five and seven years from the original investment date.

        Our Middle Market portfolio investments primarily consist of direct investments in or secondary purchases of interest-bearing debt securities in privately held companies that are generally larger in size than the companies included in our LMM portfolio. Our Middle Market portfolio debt investments are generally secured by either a first or second priority lien on the assets of the portfolio company and typically have an expected duration of between three and seven years from the original investment date.

        Our Private Loan portfolio investments are primarily debt securities in privately held companies which have been originated through strategic relationships with other investment funds on a collaborative basis, and are often referred to in the debt markets as "club deals." Private Loan investments are typically similar in size, structure, terms and conditions to investments we hold in our LMM portfolio and Middle Market portfolio. Our Private Loan portfolio debt investments are generally secured by either a first or second priority lien on the assets of the portfolio company and typically have a term of between three and seven years from the original investment date.

        Our other portfolio ("Other Portfolio") investments primarily consist of investments which are not consistent with the typical profiles for our LMM, Middle Market or Private Loan portfolio investments, including investments which may be managed by third parties. In our Other Portfolio, we may incur indirect fees and expenses in connection with investments managed by third parties, such as investments in other investment companies or private funds.

        Our external asset management business is conducted through the External Investment Manager. The External Investment Manager earns management fees based on the assets of the funds under management and may earn incentive fees, or a carried interest, based on the performance of the funds managed. We have entered into an agreement with the External Investment Manager to share employees in connection with its asset management business generally, and specifically for its relationship with HMS Income Fund, Inc. ("HMS Income"). Through this agreement, we share employees with the External Investment Manager, including their related infrastructure, business relationships, management expertise and capital raising capabilities.

        Our portfolio investments are generally made through MSCC and the Funds. MSCC and the Funds share the same investment strategies and criteria, although they are subject to different regulatory regimes (see "Business—Regulation" in our most recently filed Annual Report on Form 10-K, as well as in subsequent filings with the SEC). An investor's return in MSCC will depend, in part, on the Funds' investment returns as they are wholly owned subsidiaries of MSCC.

        The level of new portfolio investment activity will fluctuate from period to period based upon our view of the current economic fundamentals, our ability to identify new investment opportunities that meet our investment criteria, and our ability to consummate the identified opportunities. The level of new investment activity, and associated interest and fee income, will directly impact future investment income. In addition, the level of dividends paid by portfolio companies and the portion of our portfolio debt investments on non-accrual status will directly impact future investment income. While we intend to grow our portfolio and our investment income over the long term, our growth and our operating results may be more limited during depressed economic periods. However, we intend to appropriately manage our cost structure and liquidity position based on applicable economic conditions and our investment outlook. The level of realized gains or losses and unrealized appreciation or depreciation on our investments will also fluctuate depending upon portfolio activity, economic conditions and the performance of our individual portfolio companies. The changes in realized gains and losses and unrealized appreciation or depreciation could have a material impact on our operating results.

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        Because we are internally managed, we do not pay any external investment advisory fees, but instead directly incur the operating costs associated with employing investment and portfolio management professionals. We believe that our internally managed structure provides us with a beneficial operating expense structure when compared to other publicly traded and privately held investment firms which are externally managed, and our internally managed structure allows us the opportunity to leverage our non-interest operating expenses as we grow our Investment Portfolio.

        During May 2012, we entered into an investment sub-advisory agreement with HMS Adviser, LP ("HMS Adviser"), which is the investment advisor to HMS Income, a non-listed BDC, to provide certain investment advisory services to HMS Adviser. In December 2013, after obtaining required no-action relief from the SEC to allow us to own a registered investment adviser, we assigned the sub-advisory agreement to the External Investment Manager since the fees received from such arrangement could otherwise have negative consequences on our ability to meet the source-of-income requirement necessary for us to maintain our RIC tax treatment. Under the investment sub-advisory agreement, the External Investment Manager is entitled to 50% of the base management fee and the incentive fees earned by HMS Adviser under its advisory agreement with HMS Income.

        During April 2014, we received an exemptive order from the SEC permitting co-investments by us and HMS Income in certain negotiated transactions where co-investing would otherwise be prohibited under the 1940 Act. We have made, and in the future intend to continue to make, such co-investments with HMS Income in accordance with the conditions of the order. The order requires, among other things, that we and the External Investment Manager consider whether each such investment opportunity is appropriate for HMS Income and, if it is appropriate, to propose an allocation of the investment opportunity between us and HMS Income. Because the External Investment Manager may receive performance-based fee compensation from HMS Income, this may provide it an incentive to allocate opportunities to HMS Income instead of us. However, both we and the External Investment Manager have policies and procedures in place to manage this conflict.

        You should be aware that investments in our portfolio companies carry a number of risks including, but not limited to, investing in companies which may have limited operating histories and financial resources and other risks common to investing in below investment grade debt and equity investments in private, smaller companies. Please see "Risk Factors—Risks Related to Our Investments" in our most recently filed Annual Report on Form 10-K, as well as in subsequent filings with the SEC, for a more complete discussion of the risks involved with investing in our portfolio companies.

        Our principal executive offices are located at 1300 Post Oak Boulevard, 8th Floor, Houston, Texas 77056, and our telephone number is (713) 350-6000. We maintain a website at http://www.mainstcapital.com. Information contained on our website is not incorporated by reference into this prospectus, and you should not consider that information to be part of this prospectus.

Risks Associated with Our Business

        Our business is subject to numerous risks, as described in the section titled "Risk Factors" in the applicable prospectus supplement and in any free writing prospectuses we have authorized for use in connection with a specific offering, and under similar headings in the documents that are incorporated by reference into this prospectus, including the section titled "Risk Factors" included in our most recent Annual Report on Form 10-K, as well as in subsequent filings with the SEC.

Dividend Reinvestment and Direct Stock Purchase Plan

        We have adopted a dividend reinvestment and direct stock purchase plan (the "Plan"). The Plan primarily consists of a dividend reinvestment feature and a direct stock purchase feature. The direct stock purchase feature of the Plan is designed to provide new investors and existing holders of our

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common stock with a convenient and economical method to purchase shares of our common stock and is described in more detail in a separate prospectus supplement. The dividend reinvestment feature of the Plan, or the dividend reinvestment plan, provides for the reinvestment of dividends on behalf of our registered stockholders who hold their shares with American Stock Transfer & Trust Company, LLC, the plan administrator and our transfer agent and registrar, or certain brokerage firms that have elected to participate in our dividend reinvestment plan, unless a stockholder has elected to receive dividends in cash. For more information, see "Dividend Reinvestment and Direct Stock Purchase Plan."

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The Offering

        We may offer, from time to time, up to $1,500,000,000 of our securities, either individually or in combination, from time to time under this prospectus, together with the applicable prospectus supplement and any related free writing prospectus, at prices and on terms to be determined at the time of any offering. This prospectus provides you with a general description of the securities we may offer. Each time we offer a type or series of securities under this prospectus, we will provide a prospectus supplement that will describe the specific amounts, prices, and other important terms of the securities. The applicable prospectus supplement and any related free writing prospectus that we may authorize to be provided to you may also add, update, or change information contained in this prospectus or in documents we have incorporated by reference.

        Our securities may be offered directly to one or more purchasers by us or through agents designated from time to time by us, or to or through underwriters or dealers. The prospectus supplement relating to the offering will disclose the terms of the offering, including the name or names of any agents or underwriters involved in the sale of our securities by us, the purchase price, and any fee, commission or discount arrangement between us and our agents or underwriters or among our underwriters or the basis upon which such amount may be calculated. See "Plan of Distribution."

        Set forth below is additional information regarding the offering of our securities:

Use of proceeds

  Except as described in any applicable prospectus supplement or in any free writing prospectus we have authorized for use in connection with a specific offering, we intend to use the net proceeds from any offering pursuant to this prospectus to make investments in accordance with our investment objective and strategies, to pay our operating expenses and other cash obligations, and for general corporate purposes. See "Use of Proceeds."

New York Stock Exchange symbol

 

"MAIN"

Dividends and distributions

 

Our dividends and other distributions, if any, will be determined by our Board of Directors from time to time.

 

Our ability to declare dividends depends on our earnings, our overall financial condition (including our liquidity position), maintenance of our RIC status and such other factors as our Board of Directors may deem relevant from time to time.

 

When we make distributions, we are required to determine the extent to which such distributions are paid out of current or accumulated earnings, recognized capital gains or capital. To the extent there is a return of capital (a distribution of the stockholders' invested capital), investors will be required to reduce their basis in our stock for federal tax purposes. In the future, our distributions may include a return of capital.

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Taxation

 

MSCC has elected to be treated for U.S. federal income tax purposes as a RIC under Subchapter M of the Code. Accordingly, we generally will not pay corporate-level U.S. federal income taxes on any net ordinary income or capital gains that we distribute to our stockholders as dividends. To maintain our qualification as a RIC for U.S. federal income tax purposes, we must meet specified source-of-income and asset diversification requirements and distribute annually at least 90% of our net ordinary income and realized net short-term capital gains in excess of realized net long-term capital losses, if any.

 

Depending on the level of taxable income earned in a tax year, we may choose to carry forward taxable income in excess of current year distributions into the next tax year and pay a 4% U.S. federal excise tax on such income. Any such carryover taxable income must be distributed through a dividend declared on or prior to the later of (i) filing of the U.S. federal income tax return for the applicable fiscal year or (ii) the fifteenth day of the ninth month following the close of the year in which such taxable income was generated. See "Material U.S. Federal Income Tax Considerations."

Dividend reinvestment and direct stock purchase plan

 

We have adopted a dividend reinvestment and direct stock purchase plan, or the Plan. The Plan primarily consists of a dividend reinvestment feature and a direct stock purchase feature. The direct stock purchase feature of the Plan is designed to provide new investors and existing holders of our common stock with a convenient and economical method to purchase shares of our common stock and is described in more detail in a separate prospectus supplement. The dividend reinvestment feature of the Plan, or the dividend reinvestment plan, provides for the reinvestment of dividends on behalf of our registered stockholders who hold their shares with American Stock Transfer & Trust Company, LLC, the plan administrator and our transfer agent and registrar, or certain brokerage firms that have elected to participate in our dividend reinvestment plan, unless a stockholder has elected to receive dividends in cash. As a result, if we declare a cash dividend, our registered stockholders (or stockholders holding shares through participating brokerage firms) who have not properly "opted out" of the dividend reinvestment plan will have their cash dividend automatically reinvested into additional shares of our common stock. See "Dividend Reinvestment and Direct Stock Purchase Plan."

 

Stockholders who receive dividends in the form of stock will be subject to the same federal, state and local tax consequences as stockholders who elect to receive their dividends in cash. See "Dividend Reinvestment and Direct Stock Purchase Plan."

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Trading at a discount

 

Shares of closed-end investment companies frequently trade at a discount to their net asset value. This risk is separate and distinct from the risk that our net asset value per share may decline. We cannot predict whether our shares will trade above, at or below net asset value.

Sales of common stock below net asset value

 

The offering price per share of our common stock, less any underwriting commissions or discounts, will not be less than the net asset value per share of our common stock at the time of the offering, except (i) with the requisite approval of our common stockholders or (ii) under such other circumstances as the Securities and Exchange Commission may permit. In addition, we cannot issue shares of our common stock below net asset value unless our Board of Directors determines that it would be in our and our stockholders' best interests to do so. We did not seek stockholder authorization to issue common stock at a price below net asset value per share at our 2018 annual meeting of stockholders, and we are not seeking such approval at our 2019 annual meeting of stockholders, because our common stock price per share has been trading significantly above the current net asset value per share of our common stock, but we may seek such authorization at future annual meetings or special meetings of stockholders.

 

In addition, we have received stockholder approval to issue warrants, options or rights to subscribe for, convert to, or purchase shares of our common stock at a price per share below the net asset value per share subject to the applicable requirements of the 1940 Act. There is no expiration date on our ability to issue such warrants, options, rights or convertible securities based on this stockholder approval.

 

Sales by us of our common stock at a discount from our net asset value pose potential risks for our existing stockholders whether or not they participate in the offering, as well as for new investors who participate in the offering. See "Sales of Common Stock Below Net Asset Value."

Available Information

 

We file annual, quarterly and current reports, proxy statements and other information with the SEC under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The information we file with the SEC is available free of charge by contacting us at 1300 Post Oak Boulevard, 8th Floor, Houston, TX 77056, by telephone at (713) 350-6000 or on our website at http://www.mainstcapital.com. The SEC also maintains a website that contains reports, proxy statements and other information regarding registrants, including us, that file such information electronically with the SEC. The address of the SEC's website is http://www.sec.gov. Information contained on our website is not incorporated into this prospectus or any related prospectus supplement, and you should not consider information contained on our website to be part of this prospectus or any related prospectus supplement.

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FEES AND EXPENSES

        The following table is intended to assist you in understanding the costs and expenses that an investor in this offering will bear directly or indirectly. We caution you that some of the percentages indicated in the table below are estimates and may vary. Except where the context suggests otherwise, whenever this prospectus contains a reference to fees or expenses paid by "you," "us" or "Main Street," or that "we" will pay fees or expenses, stockholders will indirectly bear such fees or expenses as investors in us.

 
   
 

Stockholder Transaction Expenses:

       

Sales load (as a percentage of offering price)

    —% (1)

Offering expenses (as a percentage of offering price)

    —% (2)

Dividend reinvestment and direct stock purchase plan expenses

    —% (3)

Total stockholder transaction expenses (as a percentage of offering price)

    —% (4)

Annual Expenses of the Company (as a percentage of net assets attributable to common stock):

       

Operating expenses

    2.71% (5)

Interest payments on borrowed funds

    3.40% (6)

Income tax expense

    0.42% (7)

Acquired fund fees and expenses

    0.30% (8)

Total annual expenses

    6.83%  

(1)
In the event that our securities are sold to or through underwriters, a corresponding prospectus supplement will disclose the applicable sales load.

(2)
In the event that we conduct an offering of our securities, a corresponding prospectus supplement will disclose the estimated offering expenses.

(3)
The expenses of administering our dividend reinvestment and direct stock purchase plan are included in operating expenses.

(4)
Total stockholder transaction expenses may include sales load and will be disclosed in a future prospectus supplement, if any.

(5)
Operating expenses in this table represent the estimated expenses of MSCC and its consolidated subsidiaries.

(6)
Interest payments on borrowed funds represent our estimated annual interest payments on borrowed funds based on current debt levels as adjusted for projected increases (but not decreases) in debt levels over the next twelve months.

(7)
Income tax expense relates to the accrual of (a) deferred tax provision (benefit) primarily related to loss carryforwards, timing differences in net unrealized appreciation or depreciation and other temporary book-tax differences from our portfolio investments held in Taxable Subsidiaries and (b) excise, state and other taxes. Deferred taxes are non-cash in nature and may vary significantly from period to period. We are required to include deferred taxes in calculating our annual expenses even though deferred taxes are not currently payable or receivable. Due to the variable nature of deferred tax expense, which can be a large portion of the income tax expense, and the difficulty in providing an estimate for future periods, this income tax expense estimate is based upon the actual amount of income tax expense for the year ended December 31, 2018.

(8)
Acquired fund fees and expenses represent the estimated indirect expense incurred due to investments in other investment companies and private funds.

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Example

        The following example demonstrates the projected dollar amount of total cumulative expenses that would be incurred over various periods with respect to a hypothetical investment in our common stock. In calculating the following expense amounts, we have assumed we would have no additional leverage and that our annual operating expenses would remain at the levels set forth in the table above. In the event that shares to which this prospectus relates are sold to or through underwriters, a corresponding prospectus supplement will restate this example to reflect the applicable sales load.

 
  1 Year   3 Years   5 Years   10 Years  

You would pay the following expenses on a $1,000 investment, assuming a 5.0% annual return

  $ 68   $ 199   $ 326   $ 624  

        The example and the expenses in the table above should not be considered a representation of our future expenses, and actual expenses may be greater or less than those shown. While the example assumes, as required by the SEC, a 5.0% annual return, our performance will vary and may result in a return greater or less than 5.0%. In addition, while the example assumes reinvestment of all dividends at net asset value, participants in our dividend reinvestment plan will receive a number of shares of our common stock, determined by dividing the total dollar amount of the dividend payable to a participant by (i) the market price per share of our common stock at the close of trading on a valuation date determined by our Board of Directors for each dividend in the event that we use newly issued shares to satisfy the share requirements of the dividend reinvestment plan or (ii) the average purchase price of all shares of common stock purchased by the plan administrator in the event that shares are purchased in the open market to satisfy the share requirements of the dividend reinvestment plan, which may be at, above or below net asset value. See "Dividend Reinvestment and Direct Stock Purchase Plan" for additional information regarding our dividend reinvestment plan.

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RISK FACTORS

        Investing in our securities involves a high degree of risk. Before deciding whether to invest in our securities, you should carefully consider the risks and uncertainties described in the section titled "Risk Factors" in the applicable prospectus supplement and any related free writing prospectus, and discussed in the section titled "Risk Factors" in our most recent Annual Report on Form 10-K, as well as in subsequent filings with the SEC, which are incorporated by reference into this prospectus in their entirety, together with other information in this prospectus, the documents incorporated by reference, and any free writing prospectus that we may authorize for use in connection with this offering. The risks described in these documents are not the only ones we face. Additional risks and uncertainties that we are unaware of, or that we currently believe are not material, may also become important factors that adversely affect our business. Past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results or trends in future periods. If any of these risks actually occurs, our business, reputation, financial condition, results of operations, revenue, and future prospects could be seriously harmed. This could cause our net asset value and the trading price of our securities to decline, resulting in a loss of all or part of your investment. Please also read carefully the section titled "Cautionary Statement Concerning Forward-Looking Statements."

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CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS

        This prospectus, including the documents that we incorporate by reference herein, contains, and any applicable prospectus supplement or free writing prospectus, including the documents we incorporate by reference therein, may contain forward-looking statements, including statements regarding our future financial condition, business strategy, and plans and objectives of management for future operations. All statements other than statements of historical facts, including statements regarding our future results of operations or financial condition, business strategy and plans, and objectives of management for future operations, are forward-looking statements. The forward-looking statements contained or incorporated by reference in this prospectus and any applicable prospectus supplement or free writing prospectus may include statements as to:

        In some cases, you can identify forward-looking statements because they contain words such as "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," or "would" or the negative of these words or other similar terms or expressions, although not all forward-looking statements include these words or expressions. The forward-looking statements contained or incorporated by reference in this prospectus and any applicable prospectus supplement or free writing prospectus involve risks and uncertainties. Our actual results could differ materially from those implied or expressed in the forward-looking statements for any reason, including the factors set forth in "Risk Factors" in our most recent Annual Report on Form 10-K, as well as in subsequent filings with the SEC, and elsewhere contained or incorporated by reference in this prospectus and any applicable prospectus supplement or free writing prospectus. Other factors that could cause actual results to differ materially include:

        Discussions containing these forward-looking statements may be found in the sections titled "Business," "Risk Factors," and "Management's Discussion and Analysis of Financial Condition and Results of Operations" incorporated by reference from our most recent Annual Report on Form 10-K, as well as in subsequent filings with the SEC. We discuss in greater detail, and incorporate by reference into this prospectus in their entirety, many of these risks and uncertainties in the sections titled "Risk Factors" in the applicable prospectus supplement, in any free writing prospectus we may authorize for use in connection with a specific offering, and in our most recent Annual Report on Form 10-K, as well as in subsequent filings with the SEC. In addition, statements that we "believe" and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based on information available to us as of the applicable date of this prospectus, free writing prospectus and documents incorporated by reference into this prospectus, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain and investors are cautioned not to unduly rely on these statements.

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USE OF PROCEEDS

        Except as described in any applicable prospectus supplement or in any free writing prospectuses we have authorized for use in connection with a specific offering, we intend to use the net proceeds from any offering pursuant to this prospectus to make investments in accordance with our investment objective and strategies, to pay our operating expenses and other cash obligations, and for general corporate purposes. Our ability to achieve our investment objective may be limited to the extent that the net proceeds from an offering, pending full investment, are held in interest-bearing deposits or other short-term instruments. See "Risk Factors—Risks Relating to Our Securities—We may be unable to invest a significant portion of the net proceeds from an offering or from exiting an investment or other capital on acceptable terms, which could harm our financial condition and operating results" in our most recently filed Annual Report on Form 10-K, as well as in subsequent filings with the SEC.

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PRICE RANGE OF COMMON STOCK

        Our common stock is traded on the New York Stock Exchange ("NYSE") under the symbol "MAIN."

        The following table sets forth, for the periods indicated, the range of high and low closing prices of our common stock as reported on the NYSE, and the sales price as a percentage of the net asset value per share of our common stock.

 
   
  Price Range   Premium of
High Closing
Price to
NAV(2)
  Premium of
Low Closing
Price to
NAV(2)
 
 
  NAV(1)   High   Low  

Year ending December 31, 2019

                               

Second Quarter (through April 29, 2019)

    *   $ 39.27   $ 37.49     *     *  

First Quarter                             

    *   $ 39.21   $ 33.99     *     *  

Year ending December 31, 2018

                               

Fourth Quarter

  $ 24.09   $ 39.06   $ 32.58     62%     35%  

Third Quarter

    24.69     40.68     38.05     65%     54%  

Second Quarter

    23.96     38.86     36.76     62%     53%  

First Quarter

    23.67     39.90     35.41     69%     50%  

Year ending December 31, 2017

                               

Fourth Quarter

  $ 23.53   $ 41.55   $ 39.71     77%     69%  

Third Quarter

    23.02     40.40     38.13     75%     66%  

Second Quarter

    22.62     40.39     37.80     79%     67%  

First Quarter

    22.44     38.27     35.39     71%     58%  

(1)
Net asset value per share, or NAV, is determined as of the last day in the relevant quarter and therefore may not reflect the net asset value per share on the date of the high and low closing prices. The net asset values shown are based on outstanding shares at the end of each period. Net asset value has not yet been determined for the first or second quarter of 2019.

(2)
Calculated as the respective high or low share price divided by NAV for such quarter.

        On April 29, 2019, the last sale price of our common stock on the NYSE was $39.27 per share, and there were approximately 365 holders of record of the common stock which did not include stockholders for whom shares are held in "nominee" or "street name." The net asset value per share of our common stock on December 31, 2018 (the last date prior to the date of this prospectus on which we determined our net asset value per share) was $24.09, and the premium of the April 29, 2019 closing price of our common stock was 63% to this net asset value per share.

        Shares of BDCs may trade at a market price that is less than the value of the net assets attributable to those shares. The possibility that our shares of common stock will trade at a discount from net asset value per share or at premiums that are unsustainable over the long term are separate and distinct from the risk that our net asset value per share will decrease. It is not possible to predict whether our common stock will trade at, above, or below net asset value per share. Since our IPO in October 2007, our shares of common stock have traded at prices both less than and exceeding our net asset value per share.

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SENIOR SECURITIES

        Information about our senior securities is shown in the following table as of December 31 for the years indicated in the table, unless otherwise noted. Grant Thornton LLP's report on the senior securities table as of December 31, 2018, is an exhibit to the registration statement of which this prospectus is a part.

Class and Year
  Total Amount Outstanding
Exclusive of
Treasury Securities(1)
  Asset Coverage
per Unit(2)
  Involuntary Liquidating
Preference per Unit(3)
  Average
Market Value
per Unit(4)
 
 
  (dollars in thousands)
   
   
   
 

SBIC Debentures

                         

2009

  $ 65,000     2,995         N/A  

2010

    180,000     2,030         N/A  

2011

    220,000     2,202         N/A  

2012

    225,000     2,763         N/A  

2013

    200,200     2,476         N/A  

2014

    225,000     2,323         N/A  

2015

    225,000     2,368         N/A  

2016

    240,000     2,415         N/A  

2017

    295,800     2,687         N/A  

2018

    345,800     2,455         N/A  

Credit Facility

   
 
   
 
   
 
   
 
 

2010

  $ 39,000     2,030         N/A  

2011

    107,000     2,202         N/A  

2012

    132,000     2,763         N/A  

2013

    237,000     2,476         N/A  

2014

    218,000     2,323         N/A  

2015

    291,000     2,368         N/A  

2016

    343,000     2,415         N/A  

2017

    64,000     2,687         N/A  

2018

    301,000     2,455         N/A  

6.125% Notes

   
 
   
 
   
 
   
 
 

2013

  $ 90,882     2,476       $ 24.35  

2014

    90,823     2,323         24.78  

2015

    90,738     2,368         25.40  

2016

    90,655     2,415         25.76  

2017

    90,655     2,687         25.93  

4.50% Notes Due 2019

   
 
   
 
   
 
   
 
 

2014

  $ 175,000     2,323         N/A  

2015

    175,000     2,368         N/A  

2016

    175,000     2,415         N/A  

2017

    175,000     2,687         N/A  

2018

    175,000     2,455         N/A  

4.50% Notes Due 2022

   
 
   
 
   
 
   
 
 

2017

  $ 185,000     2,687         N/A  

2018

    185,000     2,455         N/A  

(1)
Total amount of each class of senior securities outstanding at the end of the period presented.

(2)
Asset coverage per unit is the ratio of the carrying value of our total consolidated assets, less all liabilities and indebtedness not represented by senior securities, to the aggregate amount of senior securities representing indebtedness. Asset coverage per unit is expressed in terms of dollar amounts per $1,000 of indebtedness.

(3)
The amount to which such class of senior security would be entitled upon the involuntary liquidation of the issuer in preference to any security junior to it. The "—" indicates information that the Securities and Exchange Commission expressly does not require to be disclosed for certain types of senior securities.

(4)
Average market value per unit for our 6.125% Notes represents the average of the daily closing prices as reported on the NYSE during the period presented. Average market value per unit for our SBIC Debentures, Credit Facility, 4.50% Notes due 2019 and 4.50% Notes due 2022 are not applicable because these are not registered for public trading.

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PORTFOLIO COMPANIES

        The following table sets forth certain unaudited information as of December 31, 2018 (dollars in thousands), for the portfolio companies in which we had a debt or equity investment. Other than these investments, our only formal relationships with our portfolio companies are the managerial assistance ancillary to our investments and the board observer or participation rights we may receive. As of December 31, 2018, none of our portfolio company investments constituted five percent or more of our total assets. The following table excludes our investments in marketable securities and idle funds investments.

Portfolio Company(1)(20)
  Investment Date(26)
  Business Description
  Type of Investment(2)(3)(25)
  Percent of
Class
Held(29)

  Principal(4)
  Cost(4)
  Fair Value(18)
 
   

Control Investments(5)

 

 

 

 

 

 

                         

                                     

Access Media Holdings, LLC(10)
900 Commerce Drive, Suite 200
Oak Brook, IL 60523

 

July 22, 2015

 

Private Cable Operator

                             

         

10% PIK Secured Debt (Maturity—July 22, 2020)(14)(19)

      $ 23,828   $ 23,828   $ 8,558  

         

Preferred Member Units (9,481,500 units)(27)(30)

    45.0%           9,375     (284 )

         

Member Units (45 units)

    45.0%           1      

                            33,204     8,274  

                                     

ASC Interests, LLC
16500 Westheimer Parkway
Houston, TX 77082

 

August 1, 2013

 

Recreational and Educational Shooting Facility

                             

         

11% Secured Debt (Maturity—July 31, 2020)

        1,650     1,622     1,622  

         

Member Units (1,500 units)

    48.4%           1,500     1,370  

                            3,122     2,992  

                                     

ATS Workholding, LLC(10)
30222 Esperanza
Rancho Santa Margarita, CA 92688

 

March 10, 2014

 

Manufacturer of Machine Cutting Tools and Accessories

                             

         

5% Secured Debt (Maturity—November 16, 2021)

        4,877     4,507     4,390  

         

Preferred Member Units (3,725,862 units)(30)

    41.9%           3,726     3,726  

                            8,233     8,116  

                                     

Bond-Coat, Inc.
11901 West CR 125
Odessa, TX 79765

 

December 28, 2012

 

Casing and Tubing Coating Services

                             

         

12% Secured Debt (Maturity—December 28, 2020)

        11,596     11,367     11,596  

         

Common Stock (57,508 shares)

    41.6%           6,350     9,370  

                            17,717     20,966  

                                     

Brewer Crane Holdings, LLC
12570 Highway 67
Lakeside, CA 92040

 

January 9, 2018

 

Provider of Crane Rental and Operating Services

                             

         

LIBOR Plus 10.00% (Floor 1.00%), Current Coupon 12.35%, Secured Debt (Maturity—January 9, 2023)(9)

        9,548     9,467     9,467  

         

Preferred Member Units (2,950 units)(8)(30)

    80.0%           4,280     4,280  

                            13,747     13,747  

                                     

Café Brazil, LLC
202 West Main Street, Ste. 100
Allen, TX 75013

 

April 20, 2004

 

Casual Restaurant Group

                             

         

Member Units (1,233 units)(8)

    69.0%           1,742     4,780  

                                     

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Portfolio Company(1)(20)
  Investment Date(26)
  Business Description
  Type of Investment(2)(3)(25)
  Percent of
Class
Held(29)

  Principal(4)
  Cost(4)
  Fair Value(18)
 
   

California Splendor Holdings LLC
7684 Saint Andrews Ave
Suite A San Diego, CA 92154

 

March 30, 2018

 

Processor of Frozen Fruits

                             

         

LIBOR Plus 8.00% (Floor 1.00%), Current Coupon 10.50%, Secured Debt (Maturity—March 30, 2023)(9)

        11,091     10,928     10,928  

         

LIBOR Plus 10.00% (Floor 1.00%), Current Coupon 12.50%, Secured Debt (Maturity—March 30, 2023)(9)

        28,000     27,755     27,755  

         

Preferred Member Units (6,157 units)(8)(30)

    63.4%           10,775     9,745  

                            49,458     48,428  

                                     

CBT Nuggets, LLC
1550 Valley River Drive
Eugene, OR 97401

 

June 1, 2006

 

Produces and Sells IT Training Certification Videos

                             

         

Member Units (416 units)(8)

    40.8%           1,300     61,610  

                                     

Chamberlin Holding LLC
7510 Langtry St
Houston, TX 77040

 

February 26, 2018

 

Roofing and Waterproofing Specialty Contractor

                             

         

LIBOR Plus 10.00% (Floor 1.00%), Current Coupon 12.75%, Secured Debt (Maturity—February 26, 2023)(9)

        20,203     20,028     20,028  

         

Member Units (4,347 units)(8)

    43.5%           11,440     18,940  

         

Member Units (Chamberlin Langfield Real Estate, LLC) (732,160 units)

    45.8%           732     732  

                            32,200     39,700  

                                     

Charps, LLC
453 Tower St NW
Clearbrook, MN 56634

 

February 3, 2017

 

Pipeline Maintenance and Construction

                             

         

12% Secured Debt (Maturity—February 3, 2022)

        11,900     11,805     11,888  

         

Preferred Member Units (1,600 units)(8)(30)

    80.0%           400     2,270  

                            12,205     14,158  

                                     

Clad-Rex Steel, LLC
11500 W. King Street
Franklin Park, IL 60131

 

December 20, 2016

 

Specialty Manufacturer of Vinyl-Clad Metal

                             

         

LIBOR Plus 9.00% (Floor 1.00%), Current Coupon 11.35%, Secured Debt (Maturity—December 20, 2021)(9)

        12,080     12,001     12,080  

         

Member Units (717 units)(8)

    66.0%           7,280     10,610  

         

10% Secured Debt (Clad-Rex Steel RE Investor, LLC) (Maturity—December 20, 2036)

        1,161     1,150     1,161  

         

Member Units (Clad-Rex Steel RE Investor, LLC) (800 units)

    80.0%           210     350  

                            20,641     24,201  

                                     

CMS Minerals Investments
3040 Stout Street
Denver, CO 80205

 

January 30, 2015

 

Oil & Gas Exploration & Production

                             

         

Member Units (CMS Minerals II, LLC) (100 units)(8)

    100.0%           2,707     2,580  

                                     

Copper Trail Fund Investments(12)(13)
621 17th Street
Denver, CO 80293

 

July 17, 2017

 

Investment Partnership

                             

         

LP Interests (CTMH, LP) (Fully diluted 38.8%)

    38.8%           872     872  

         

LP Interests (Copper Trail Energy Fund I, LP) (Fully diluted 30.1%)(8)

    30.1%           3,495     4,170  

                            4,367     5,042  

                                     

17


Table of Contents

Portfolio Company(1)(20)
  Investment Date(26)
  Business Description
  Type of Investment(2)(3)(25)
  Percent of
Class
Held(29)

  Principal(4)
  Cost(4)
  Fair Value(18)
 
   

Datacom, LLC
100 Enterprise Boulevard
Lafayette, LA 70506

 

May 30, 2014

 

Technology and Telecommunications Provider

                             

         

8% Secured Debt (Maturity—May 30, 2019)(14)

        1,800     1,800     1,690  

         

10.50% PIK Secured Debt (Maturity—May 30, 2019)(14)(19)

        12,511     12,479     9,786  

         

Class A Preferred Member Units(30)

    37.6%           1,294      

         

Class B Preferred Member Units (6,453 units)(30)

    37.6%           6,030      

                            21,603     11,476  

                                     

Digital Products Holdings LLC
900 N. 23rd Street
Saint Louis, MO 63106

 

April 1, 2018

 

Designer and Distributor of Consumer Electronics

                             

         

LIBOR Plus 10.00% (Floor 1.00%), Current Coupon 12.38%, Secured Debt (Maturity—April 1, 2023)(9)

        25,740     25,511     25,511  

         

Preferred Member Units (3,451 shares)(8)(30)

    80.0%           8,466     8,466  

                            33,977     33,977  

                                     

Direct Marketing Solutions, Inc.
8534 NE Alderwood Road
Portland, OR 97220

 

February 13, 2018

 

Provider of Omni-Channel Direct Marketing Services

                             

         

LIBOR Plus 11.00% (Floor 1.00%), Current Coupon 13.38%, Secured Debt (Maturity—February 13, 2023)(9)

        18,017     17,848     17,848  

         

Preferred Stock (8,400 shares)(30)

    80.0%           8,400     14,900  

                            26,248     32,748  

                                     

Gamber-Johnson Holdings, LLC
3001 Borham Ave.
Stevens Point, WI 54481

 

June 24, 2016

 

Manufacturer of Ruggedized Computer Mounting Systems

                             

         

LIBOR Plus 7.50% (Floor 2.00%), Current Coupon 9.85%, Secured Debt (Maturity—June 24, 2021)(9)

        21,486     21,356     21,486  

         

Member Units (8,619 units)(8)

    71.9%           14,844     45,460  

                            36,200     66,946  

                                     

Garreco, LLC
430 Hiram Rd.
Heber Springs, AR 72543

 

July 15, 2013

 

Manufacturer and Supplier of Dental Products

                             

         

LIBOR Plus 8.00% (Floor 1.00%, Ceiling 1.50%), Current Coupon 9.50%, Secured Debt (Maturity—March 31, 2020)(9)

        5,121     5,099     5,099  

         

Member Units (1,200 units)

    32.0%           1,200     2,590  

                            6,299     7,689  

                                     

GRT Rubber Technologies LLC
201 Dana Dr.
Paragould, AR 72450

 

December 19, 2014

 

Manufacturer of Engineered Rubber Products

                             

         

LIBOR Plus 7.00%, Current Coupon 9.35%, Secured Debt (Maturity—December 31, 2023)(9)

        9,740     9,716     9,740  

         

Member Units (5,879 units)(8)

    60.6%           13,065     39,060  

                            22,781     48,800  

18


Table of Contents

Portfolio Company(1)(20)
  Investment Date(26)
  Business Description
  Type of Investment(2)(3)(25)
  Percent of
Class
Held(29)

  Principal(4)
  Cost(4)
  Fair Value(18)
 
   

Guerdon Modular
Holdings, Inc.
5556 S Federal Way
Boise, ID 83716

 

August 13, 2014

 

Multi-Family and Commercial Modular Construction Company

                             

         

13% Secured Debt (Maturity—March 1, 2019)

        12,588     12,572     12,002  

         

Preferred Stock (404,998 shares)(30)

    24.2%           1,140      

         

Common Stock (212,033 shares)

    1.7%           2,983      

         

Warrants (6,208,877 equivalent shares; Expiration— April 25, 2028; Strike price—$0.01 per unit)(30)

    62.7%                

                            16,695     12,002  

                                     

Gulf Manufacturing, LLC 1221 Indiana St.
Humble, TX 77396

 

August 31, 2007

 

Manufacturer of Specialty Fabricated Industrial Piping Products

                             

         

Member Units (438 units)(8)

    37.0%           2,980     11,690  

                                     

Gulf Publishing Holdings, LLC 2 Greenway Plaza, Suite 1020
Houston, TX 77046

 

April 29, 2016

 

Energy Industry Focused Media and Publishing

                             

         

12.5% Secured Debt (Maturity—April 29, 2021)

        12,666     12,594     12,594  

         

Member Units (3,681 units)

    31.5%           3,681     4,120  

                            16,275     16,714  

                                     

Harborside Holdings, LLC
1300 Post Oak Boulevard, 8th Floor
Houston, TX 77056

 

March 20, 2017

 

Real Estate Holding Company

                             

         

Member units (100 units)

    100.0%           6,306     9,500  

                                     

Harris Preston Fund Investments(12)(13)
2901 Via Fortuna
Austin, TX 78746

 

October 1, 2017

 

Investment Partnership

                             

         

LP Interests (2717 MH, L.P.) (Fully diluted 49.3%)

    49.3%           1,040     1,133  

                                     

Harrison Hydra-Gen, Ltd.
14233 West Road
Houston, TX 77041

 

June 4, 2010

 

Manufacturer of Hydraulic Generators

                             

         

Common Stock (107,456 shares)(8)

    33.6%           718     8,070  

                                     

HW Temps LLC
1308 Belmont St
Brockton, MA 02301

 

July 2, 2015

 

Temporary Staffing Solutions

                             

         

LIBOR Plus 13.00% (Floor 1.00%), Current Coupon 15.35%, Secured Debt (Maturity July 2, 2020)(9)

        9,976     9,938     9,938  

         

Preferred Member Units (3,200 units)(8)(30)

    80.0%           3,942     3,942  

                            13,880     13,880  

                                     

IDX Broker, LLC
100 E Broadway
Eugene, OR 97401

 

November 15, 2013

 

Provider of Marketing and CRM Tools for the Real Estate Industry

                             

         

11.5% Secured Debt (Maturity—November 15, 2020)

        14,350     14,262     14,350  

         

Preferred Member Units (5,607 units)(8)(30)

    97.4%           5,952     13,520  

                            20,214     27,870  

                                     

19


Table of Contents

Portfolio Company(1)(20)
  Investment Date(26)
  Business Description
  Type of Investment(2)(3)(25)
  Percent of
Class
Held(29)

  Principal(4)
  Cost(4)
  Fair Value(18)
 
   

Jensen Jewelers of Idaho, LLC
130 Second Avenue North
Twin Falls, ID 83301

 

November 14, 2006

 

Retail Jewelry Store

                             

         

Prime Plus 6.75% (Floor 2.00%), Current Coupon 12.00%, Secured Debt (Maturity—November 14, 2019)(9)

        3,355     3,337     3,355  

         

Member Units (627 units)(8)

    61.4%           811     5,090  

                            4,148     8,445  

                                     

KBK Industries, LLC
East Hwy 96
Rush Center, KS 67575

 

January 23, 2006

 

Manufacturer of Specialty Oilfield and Industrial Products

                             

         

Member Units (325 units)(8)

    25.5%           783     8,610  

                                     

Kickhaefer Manufacturing Company, LLC
1221 S. Park Street
Port Washington, WI 53074

 

October 31, 2018

 

Precision Metal Parts Manufacturing

                             

         

11.5% Secured Debt (Maturity—October 31, 2020)

        1,064     1,045     1,045  

         

11.5% Secured Debt (Maturity—October 31, 2023)

        28,000     27,730     27,730  

         

Member Units (581 units)

    65.5%           12,240     12,240  

         

9.0% Secured Debt (Maturity—October 31, 2048)

        4,006     3,970     3,970  

         

Member Units (KMC RE Investor, LLC) (800 units)

    80.0%           992     992  

                            45,977     45,977  

                                     

Lamb Ventures, LLC
2113 Wells Branch Pkwy, Suite 4000
Austin, TX 78728

 

May 30, 2008

 

Aftermarket Automotive Services Chain

                             

         

11% Secured Debt (Maturity—July 1, 2022)

        8,339     8,306     8,339  

         

Preferred Stock (non-voting)(30)

    100.0%           400     400  

         

Member Units (742 units)

    68.4%           5,273     7,440  

         

9.5% Secured Debt (Lamb's Real Estate Investment I, LLC) (Maturity—March 31, 2027)

        432     428     432  

         

Member Units (Lamb's Real Estate Investment I, LLC) (1,000 units)(8)

    100.0%           625     630  

                            15,032     17,241  

                                     

Market Force Information, LLC
371 Centennial Parkway, Suite 210
Louisville, CO 80027

 

July 28, 2017

 

Provider of Customer Experience Management Services

                             

         

LIBOR Plus 7.00% (Floor 1.00%), Current Coupon 9.74%, Secured Debt (Maturity—July 28, 2022)(9)

        200     200     200  

         

LIBOR Plus 11.00% (Floor 1.00%), Current Coupon 13.74%, Secured Debt (Maturity—July 28, 2022)(9)

        22,800     22,624     22,624  

         

Member Units (657,113 units)

    65.7%           14,700     13,100  

                            37,524     35,924  

                                     

MH Corbin Holding, LLC
8355 Rausch Dr.
Plain City, OH 43064

 

August 31, 2015

 

Manufacturer and Distributor of Traffic Safety Products

                             

         

10% Current / 3% PIK Secured Debt (Maturity—August 31, 2020)(14)(19)

        12,263     12,121     11,733  

         

Preferred Member Units (4,000 shares)(30)

    80.0%           6,000     1,000  

                            18,121     12,733  

                                     

20


Table of Contents

Portfolio Company(1)(20)
  Investment Date(26)
  Business Description
  Type of Investment(2)(3)(25)
  Percent of
Class
Held(29)

  Principal(4)
  Cost(4)
  Fair Value(18)
 
   

Mid-Columbia Lumber Products, LLC
710 "C" Street
Culver, OR 97734

 

December 18, 2006

 

Manufacturer of Finger-Jointed Lumber Products

                             

         

10% Secured Debt (Maturity—January 15, 2020)

        1,750     1,746     1,746  

         

12% Secured Debt (Maturity—January 15, 2020)

        3,900     3,880     3,880  

         

Member Units (7,874 units)

    59.5%           3,001     3,860  

         

9.5% Secured Debt (Mid-Columbia Real Estate, LLC) (Maturity—May 13, 2025)

        746     746     746  

         

Member Units (Mid-Columbia Real Estate, LLC) (500 units)(8)

    100.0%           790     1,470  

                            10,163     11,702  

                                     

MSC Adviser I, LLC(16)
1300 Post Oak Boulevard, 8th Floor
Houston, TX 77056

 

November 22, 2013

 

Third Party Investment Advisory Services

                             

         

Member Units (Fully diluted 100.0%)(8)

    100.0%               65,748  

                                     

Mystic Logistics Holdings, LLC
2187 New London Tpke
South Glastonbury, CT 06073

 

August 18, 2014

 

Logistics and Distribution Services Provider for Large Volume Mailers

                             

         

12% Secured Debt (Maturity—August 15, 2019)

        7,536     7,506     7,506  

         

Common Stock (5,873 shares)

    63.5%           2,720     210  

                            10,226     7,716  

                                     

NAPCO Precast, LLC
6949 Low Bid Lane
San Antonio, TX 78250

 

January 31, 2008

 

Precast Concrete Manufacturing

                             

         

LIBOR Plus 8.50%, Current Coupon 11.24%, Secured Debt (Maturity—May 31, 2019)

        11,475     11,464     11,475  

         

Member Units (2,955 units)(8)

    44.5%           2,975     13,990  

                            14,439     25,465  

                                     

NexRev LLC
601 Development Drive
Plano, TX 75074

 

February 28, 2018

 

Provider of Energy Efficiency Products & Services

                             

         

11% Secured Debt (Maturity—February 28, 2023)

        17,440     17,288     17,288  

         

Preferred Member Units (86,400,000 units)(8)(30)

    80.0%           6,880     7,890  

                            24,168     25,178  

                                     

NRI Clinical Research, LLC
2010 Wilshire Blvd
Los Angeles, CA 90057

 

September 8, 2011

 

Clinical Research Service Provider

                             

         

14% Secured Debt (Maturity—June 8, 2022)

        6,685     6,545     6,685  

         

Warrants (251,723 equivalent units; Expiration—June 8, 2027; Strike price—$0.01 per unit)

    12.0%           252     660  

         

Member Units (1,454,167 units)

    23.9%           765     2,478  

                            7,562     9,823  

                                     

NRP Jones, LLC
210 Philadelphia St
LaPorte, IN 46350

 

December 22, 2011

 

Manufacturer of Hoses, Fittings and Assemblies

                             

         

12% Secured Debt (Maturity—March 20, 2023)

        6,376     6,376     6,376  

         

Member Units (65,962 units)

    46.4%           3,717     5,960  

                            10,093     12,336  

                                     

21


Table of Contents

Portfolio Company(1)(20)
  Investment Date(26)
  Business Description
  Type of Investment(2)(3)(25)
  Percent of
Class
Held(29)

  Principal(4)
  Cost(4)
  Fair Value(18)
 
   

NuStep, LLC
5111 Venture Drive
Ann Arbor, MI 48108

 

January 31, 2017

 

Designer, Manufacturer and Distributor of Fitness Equipment

                             

         

12% Secured Debt (Maturity—January 31, 2022)

        20,600     20,458     20,458  

         

Preferred Member Units (406 units)(30)

    66.9%           10,200     10,200  

                            30,658     30,658  

                                     

OMi Holdings, Inc.
1515 E I-30 Service Road
Royse City, TX 75189

 

April 1, 2008

 

Manufacturer of Overhead Cranes

                             

         

Common Stock (1,500 shares)(8)

    48.0%           1,080     16,020  

                                     

Pegasus Research Group, LLC
4636 E. University Drive
Phoenix, AZ 85034

 

January 6, 2011

 

Provider of Telemarketing and Data Services

                             

         

Member Units (460 units)

    43.7%           1,290     7,680  

                                     

PPL RVs, Inc.
10777 Southwest Freeway
Houston, TX 77074

 

June 10, 2010

 

Recreational Vehicle Dealer

                             

         

LIBOR Plus 7.00% (Floor 0.50%), Current Coupon 9.40%, Secured Debt (Maturity—November 15, 2021)(9)

        15,100     15,006     15,100  

         

Common Stock (1,962 shares)(8)

    52.2%           2,150     10,380  

                            17,156     25,480  

                                     

Principle Environmental, LLC
(d/b/a TruHorizon
Environmental Solutions)
201 W. Ranch Court
Weatherford, TX 76088

 

February 1, 2011

 

Noise Abatement Service Provider

                             

         

13% Secured Debt (Maturity—April 30, 2020)

        7,477     7,398     7,477  

         

Preferred Member Units (19,631 units)(8)(30)

    87.7%           4,600     13,090  

         

Warrants (1,018 equivalent units; Expiration—January 31, 2021; Strike price—$0.01 per unit)

    5.0%           1,200     780  

                            13,198     21,347  

                                     

Quality Lease Service, LLC
23403B NW Zac Lentz Pkwy
Victoria, TX 77905

 

June 8, 2015

 

Provider of Rigsite Accommodation Unit Rentals and Related Services

                             

         

Zero Coupon Secured Debt (Maturity—June 8, 2021)

        7,341     7,341     6,450  

         

Member Units (1,000 units)

    100.0%           4,043     3,809  

                            11,384     10,259  

                                     

River Aggregates, LLC
PO Box 8609
The Woodlands, TX 77387

 

March 30, 2011

 

Processor of Construction Aggregates

                             

         

Zero Coupon Secured Debt (Maturity—June 30, 2018)(17)

        750     750     722  

         

Member Units (1,150 units)

    38.3%           1,150     4,610  

         

Member Units (RA Properties, LLC) (1,500 units)

    50.0%           369     2,930  

                            2,269     8,262  

                                     

22


Table of Contents

Portfolio Company(1)(20)
  Investment Date(26)
  Business Description
  Type of Investment(2)(3)(25)
  Percent of
Class
Held(29)

  Principal(4)
  Cost(4)
  Fair Value(18)
 
   

Tedder Industries, LLC
4411 W. Riverbend Ave.
Post Falls, ID 83854

 

August 31, 2018

 

Manufacturer of Firearm Holsters and Accessories

                             

         

12% Secured Debt (Maturity—August 31, 2020)

        480     480     480  

         

12% Secured Debt (Maturity—August 31, 2023)

        16,400     16,246     16,246  

         

Preferred Member Units (440 units)(30)

    78.7%           7,476     7,476  

                            24,202     24,202  

                                     

The MPI Group, LLC
319 North Hills Road
Corbin, KY 40701

 

October 2, 2007

 

Manufacturer of Custom Hollow Metal Doors, Frames and Accessories

                             

         

9% Secured Debt (Maturity—October 2, 2019)

        2,924     2,924     2,582  

         

Series A Preferred Units (2,500 units)(30)

    100.0%           2,500     440  

         

Warrants (1,424 equivalent units; Expiration—July 1, 2024; Strike price—$0.01 per unit)

    59.4%           1,096      

         

Member Units (MPI Real Estate Holdings, LLC) (100 units)(8)

    100.0%           2,300     2,479  

                            8,820     5,501  

                                     

Vision Interests, Inc.
6630 Arroyo Springs St., Ste. 600 Las Vegas, NV 89113

 

June 5, 2007

 

Manufacturer / Installer of Commercial Signage

                             

         

13% Secured Debt (Maturity—December 23, 2018)(17)

        2,153     2,153     2,153  

         

Series A Preferred Stock (3,000,000 shares)(30)

    100.0%           3,000     3,740  

         

Common Stock (1,126,242 shares)

    16.7%           3,706     280  

                            8,859     6,173  

                                     

Ziegler's NYPD, LLC
13901 North 73rd St., #219 Scottsdale, AZ 85260

 

October 1, 2008

 

Casual Restaurant Group

                             

         

6.5% Secured Debt (Maturity—October 1, 2019)

        1,000     998     1,000  

         

12% Secured Debt (Maturity—October 1, 2019)

        425     425     425  

         

14% Secured Debt (Maturity—October 1, 2019)

        2,750     2,750     2,750  

         

Warrants (587 equivalent units; Expiration—October 1, 2019; Strike price—$0.01 per unit)

    4.0%           600      

         

Preferred Member Units (10,072 units)(30)

    100.0%           2,834     1,249  

                            7,607     5,424  

Subtotal Control Investments (68.1% of net assets at fair value)

  $ 750,618   $ 1,004,993  

23


Table of Contents

Portfolio Company(1)(20)
  Investment Date(26)
  Business Description
  Type of Investment(2)(3)(25)
  Percent of
Class
Held(29)

  Principal(4)
  Cost(4)
  Fair Value(18)
 
   

Affiliate Investments(6)

 

 

 

 

 

 

                         

                                     

AFG Capital Group, LLC
900 McDuff Avenue
Grandview, TX 76050

 

November 7, 2014

 

Provider of Rent-to-Own Financing Solutions and Services

                             

         

Warrants (42 equivalent units; Expiration—November 7, 2024; Strike price—$0.01 per unit)

    4.0%         $ 259   $ 950  

         

Preferred Member Units (186 units)(8)(30)

    80.0%           1,200     3,980  

                            1,459     4,930  

                                     

Barfly Ventures, LLC(10)
1 Ionia Avenue SW, Suite
200 Grand Rapids, MI 49503

 

August 31, 2015

 

Casual Restaurant Group

                             

         

12% Secured Debt (Maturity—August 31, 2020)

        10,185     10,039     10,018  

         

Options (3 equivalent units)

    4.2%           607     940  

         

Warrant (1 equivalent unit; Expiration—August 31, 2025; Strike price—$1.00 per unit)

    1.7%           473     410  

                            11,119     11,368  

                                     

BBB Tank Services, LLC
162 Independence Parkway North
Baytown, TX 77520

 

April 8, 2016

 

Maintenance, Repair and Construction Services to the Above-Ground Storage Tank Market

                             

         

LIBOR Plus 11.00% (Floor 1.00%), Current Coupon 13.35%, (Maturity—April 8, 2021)(9)

        4,000     3,833     3,833  

         

Preferred Stock (non-voting)(30)

    11.3%           113     113  

         

Member Units (800,000 units)

    10.0%           800     230  

                            4,746     4,176  

                                     

Boccella Precast Products LLC
324 New Brooklyn Rd
Berlin, NJ 08009

 

June 30, 2017

 

Manufacturer of Precast Hollow Core Concrete

                             

         

LIBOR Plus 10.00% (Floor 1.00%), Current Coupon 12.40%, Secured Debt (Maturity—June 30, 2022)(9)

        15,724     15,512     15,724  

         

Member Units (2,160,000 units)(8)(30)

    19.2%           2,160     5,080  

                            17,672     20,804  

                                     

Boss Industries, LLC
1761 Genesis Drive
LaPorte, IN 46350

 

July 1, 2014

 

Manufacturer and Distributor of Air, Power and Other Industrial Equipment

                             

         

Preferred Member Units (2,242 units)(8)(30)

    29.5%           2,246     6,176  

                                     

Bridge Capital Solutions Corporation
300 Motor Parkway, Suite 215
Hauppauge, NY 11788

 

April 18, 2012

 

Financial Services and Cash Flow Solutions Provider

                             

         

13% Secured Debt (Maturity—July 25, 2021)

        7,500     6,221     6,221  

         

Warrants (82 equivalent shares; Expiration—July 25, 2026; Strike price—$0.01 per share)

    29.0%           2,132     4,020  

         

13% Secured Debt (Mercury Service Group, LLC) (Maturity—July 25, 2021)

        1,000     994     1,000  

         

Preferred Member Units (Mercury Service Group, LLC) (17,742 units)(8)(30)

    62.0%           1,000     1,000  

                            10,347     12,241  

                                     

24


Table of Contents

Portfolio Company(1)(20)
  Investment Date(26)
  Business Description
  Type of Investment(2)(3)(25)
  Percent of
Class
Held(29)

  Principal(4)
  Cost(4)
  Fair Value(18)
 
   

Buca C, LLC
4700 Millenua Blvd., #400
Orlando, FL 32839

 

June 30, 2015

 

Casual Restaurant Group

                             

         

LIBOR Plus 9.25% (Floor 1.00%), Current Coupon 11.63%, Secured Debt (Maturity—June 30, 2020)(9)

        19,104     19,038     19,038  

         

Preferred Member Units (6 units; 6% cumulative)(8)(19)(30)

    60.0%           4,431     4,431  

                            23,469     23,469  

                                     

CAI Software LLC
36 Thurber Boulevard
Smithfield, RI 02917

 

October 10, 2014

 

Provider of Specialized Enterprise Resource Planning Software

                             

         

12% Secured Debt (Maturity—December 7, 2023)

        10,880     10,763     10,880  

         

Member Units (66,968 units)(8)

    10.7%           751     2,717  

                            11,514     13,597  

                                     

Chandler Signs Holdings, LLC(10)
14201 Sovereign Rd
Fort Worth, TX 76155

 

January 4, 2016

 

Sign Manufacturer

                             

         

12% Current / 1% PIK Secured Deb (Maturity—July 4, 2021)(19)

        4,546     4,522     4,546  

         

Class A Units (1,500,000 units)(8)(30)

    8.9%           1,500     2,120  

                            6,022     6,666  

                                     

Charlotte Russe, Inc.(11)
575 Florida Street
San Francisco, CA 94010

 

May 28, 2013

 

Fast-Fashion Retailer to Young Women

                             

         

8.50% Secured Debt (Maturity—February 2, 2023)

        7,932     7,932     3,930  

         

Common Stock (19,041 shares)

    8.0%           3,141      

                            11,073     3,930  

                                     

Condit Exhibits, LLC
5151 Bannock St
Denver, CO 80435

 

July 1, 2008

 

Tradeshow Exhibits / Custom Displays Provider

                             

         

Member Units (3,936 units)(8)

    15.0%           100     1,950  

                                     

Congruent Credit Opportunities Funds(12)(13)
3131 McKinney Ave., Suite 850
Dallas, TX 75204

 

January 24, 2012

 

Investment Partnership

                             

         

LP Interests (Congruent Credit Opportunities Fund II, LP) (Fully diluted 19.8%)

    19.8%           5,210     855  

         

LP Interests (Congruent Credit Opportunities Fund III, LP) (Fully diluted 17.4%)(8)

    17.4%           16,959     17,468  

                            22,169     18,323  

                                     

Dos Rios Partners(12)(13)
205 Wild Basin Road
S. Building 3, Suite 100
Austin, TX 78746

 

April 25, 2013

 

Investment Partnership

                             

         

LP Interests (Dos Rios Partners, LP) (Fully diluted 20.2%)

    20.2%           5,846     7,153  

         

LP Interests (Dos Rios Partners—A, LP) (Fully diluted 6.4%)

    6.4%           1,856     2,271  

                            7,702     9,424  

                                     

East Teak Fine Hardwoods, Inc.
1106 Drake Road
Donalds, SC 29638

 

April 13, 2006

 

Distributor of Hardwood Products

                             

         

Common Stock (6,250 shares)(8)

    5.0%           480     560  

                                     

25


Table of Contents

Portfolio Company(1)(20)
  Investment Date(26)
  Business Description
  Type of Investment(2)(3)(25)
  Percent of
Class
Held(29)

  Principal(4)
  Cost(4)
  Fair Value(18)
 
   

EIG Fund Investments(12)(13)
Three Allen Center 333 Clay Street Suite 3500
Houston, TX 77002

 

November 6, 2015

 

Investment Partnership

                             

         

LP Interests (EIG Global Private Debt Fund-A, L.P.) (Fully diluted 11.1%)(8)

    11.1%           553     505  

                                     

Freeport Financial Funds(12)(13)
200 South Wacker Dr, Suite 750
Chicago, IL 60606

 

June 13, 2013

 

Investment Partnership

                             

         

LP Interests (Freeport Financial SBIC Fund LP) (Fully diluted 9.3%)(8)

    9.3%           5,974     5,399  

         

LP Interests (Freeport First Lien Loan Fund III LP) (Fully diluted 6.0%)(8)

    6.0%           11,155     10,980  

                            17,129     16,379  

                                     

Harris Preston Fund Investments(12)(13)
2901 Via Fortuna
Austin, TX 78746

 

August 9, 2017

 

Investment Partnership

                             

         

LP Interests (HPEP 3, L.P.) (Fully diluted 8.2%)