UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One) | |
⌧ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the quarterly period ended June 30, 2021 | |
OR | |
◻ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from: to | |
Commission File Number: 001-33723
Main Street Capital Corporation
(Exact name of registrant as specified in its charter)
Maryland | 41-2230745 |
1300 Post Oak Boulevard, 8th Floor | 77056 |
(713) 350-6000
(Registrant’s telephone number including area code)
n/a
(Former name, former address and former fiscal year, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class |
| Trading Symbol |
| Name of Each Exchange on Which |
Common Stock, par value $0.01 per share | | MAIN | | New York Stock Exchange |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ⌧ No ◻
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ◻ No ◻
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer ⌧ | Accelerated filer ◻ | Non-accelerated filer ◻ | Smaller reporting company ◻ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ◻ No ⌧
The number of shares outstanding of the issuer’s common stock as of August 5, 2021 was 68,611,006.
MAIN STREET CAPITAL CORPORATION
(dollars in thousands, except shares and per share amounts)
| | June 30, | | December 31, | ||
|
| 2021 |
| 2020 | ||
| | (Unaudited) | | | | |
ASSETS |
| |
|
| |
|
Investments at fair value: |
| |
|
| |
|
Control investments (cost: $882,469 and $831,490 as of June 30, 2021 and December 31, 2020, respectively) | | $ | 1,209,793 | | $ | 1,113,725 |
Affiliate investments (cost: $421,424 and $416,479 as of June 30, 2021 and December 31, 2020, respectively) | |
| 387,476 | |
| 366,301 |
Non‑Control/Non‑Affiliate investments (cost: $1,421,592 and $1,268,740 as of June 30, 2021 and December 31, 2020, respectively) | |
| 1,375,001 | |
| 1,204,840 |
Total investments (cost: $2,725,485 and $2,516,709 as of June 30, 2021 and December 31, 2020, respectively) | |
| 2,972,270 | |
| 2,684,866 |
Cash and cash equivalents | |
| 58,796 | |
| 31,919 |
Interest receivable and other assets | |
| 54,386 | |
| 49,761 |
Deferred financing costs (net of accumulated amortization of $8,975 and $8,477 as of June 30, 2021 and December 31, 2020, respectively) | |
| 4,703 | |
| 2,818 |
Total assets | | $ | 3,090,155 | | $ | 2,769,364 |
LIABILITIES | |
| | |
| |
Credit facility | | $ | 169,000 | | $ | 269,000 |
SBIC debentures (par: $322,000 and $309,800 as of June 30, 2021 and December 31, 2020, respectively) | |
| 314,828 | |
| 303,972 |
5.20% Notes due 2024 (par: $450,000 as of both June 30, 2021 and December 31, 2020) | |
| 451,544 | |
| 451,817 |
4.50% Notes due 2022 (par: $185,000 as of both June 30, 2021 and December 31, 2020) | |
| 184,140 | |
| 183,836 |
3.00% Notes due 2026 (par: $300,000 as of June 30, 2021) | |
| 295,230 | |
| — |
Accounts payable and other liabilities | |
| 21,709 | |
| 20,833 |
Payable for securities purchased | |
| 11,226 | |
| — |
Interest payable | |
| 11,878 | |
| 8,658 |
Dividend payable | |
| 14,049 | |
| 13,889 |
Deferred tax liability, net | |
| 11,710 | |
| 2,592 |
Total liabilities | |
| 1,485,314 | |
| 1,254,597 |
Commitments and contingencies (Note K) | |
| | |
| |
NET ASSETS | |
| | |
| |
Common stock, $0.01 par value per share (150,000,000 shares authorized; 68,518,661 and 67,674,853 shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively) | |
| 685 | |
| 677 |
Additional paid‑in capital | |
| 1,637,583 | |
| 1,615,940 |
Total undistributed (overdistributed) earnings | |
| (33,427) | |
| (101,850) |
Total net assets | |
| 1,604,841 | |
| 1,514,767 |
Total liabilities and net assets | | $ | 3,090,155 | | $ | 2,769,364 |
NET ASSET VALUE PER SHARE | | $ | 23.42 | | $ | 22.35 |
The accompanying notes are an integral part of these consolidated financial statements
1
MAIN STREET CAPITAL CORPORATION
Consolidated Statements of Operations
(dollars in thousands, except shares and per share amounts)
(Unaudited)
| | Three Months Ended | | Six Months Ended | ||||||||
|
| June 30, | | June 30, | ||||||||
|
| 2021 |
| 2020 |
| 2021 |
| 2020 | ||||
INVESTMENT INCOME: |
| |
|
| |
|
| |
|
| |
|
Interest, fee and dividend income: |
| |
|
| |
|
| |
|
| |
|
Control investments | | $ | 27,027 | | $ | 19,327 | | $ | 51,052 | | $ | 38,800 |
Affiliate investments | |
| 11,005 | |
| 7,207 | |
| 22,511 | |
| 15,371 |
Non‑Control/Non‑Affiliate investments | |
| 29,262 | |
| 25,473 | |
| 56,539 | |
| 53,985 |
Total investment income | |
| 67,294 | |
| 52,007 | |
| 130,102 | |
| 108,156 |
EXPENSES: | |
| | |
| | |
| | |
| |
Interest | |
| (14,400) | |
| (11,898) | |
| (28,206) | |
| (24,338) |
Compensation | |
| (6,895) | |
| (4,802) | |
| (13,216) | |
| (7,300) |
General and administrative | |
| (3,417) | |
| (3,000) | |
| (6,392) | |
| (6,473) |
Share‑based compensation | |
| (2,759) | |
| (2,817) | |
| (5,092) | |
| (5,654) |
Expenses allocated to the External Investment Manager | |
| 2,572 | |
| 1,804 | |
| 4,952 | |
| 3,448 |
Total expenses | |
| (24,899) | |
| (20,713) | |
| (47,954) | |
| (40,317) |
NET INVESTMENT INCOME | |
| 42,395 | |
| 31,294 | |
| 82,148 | |
| 67,839 |
NET REALIZED GAIN (LOSS): | |
| | |
| | |
| | |
| |
Control investments | |
| (2,320) | |
| 1,606 | |
| (13,245) | |
| (19,866) |
Affiliate investments | |
| 13,913 | |
| — | |
| 9,110 | |
| (235) |
Non‑Control/Non‑Affiliate investments | |
| 6,407 | |
| (10,190) | |
| 6,405 | |
| (10,348) |
Realized loss on extinguishment of debt | |
| — | |
| — | |
| — | |
| (534) |
Total net realized gain (loss) | |
| 18,000 | |
| (8,584) | |
| 2,270 | |
| (30,983) |
NET UNREALIZED APPRECIATION (DEPRECIATION): | |
| | |
| | |
| | |
| |
Control investments | |
| 30,824 | |
| (6,825) | |
| 45,084 | |
| (42,235) |
Affiliate investments | |
| 9,816 | |
| (8,123) | |
| 16,232 | |
| (29,289) |
Non‑Control/Non‑Affiliate investments | |
| 3,801 | |
| 28,112 | |
| 17,124 | |
| (109,620) |
SBIC debentures | |
| — | |
| — | |
| — | |
| 460 |
Total net unrealized appreciation (depreciation) | |
| 44,441 | |
| 13,164 | |
| 78,440 | |
| (180,684) |
INCOME TAXES: | |
| | |
| | |
| | |
| |
Federal and state income, excise and other taxes | |
| (656) | |
| (550) | |
| (1,289) | |
| (255) |
Deferred taxes | |
| (9,070) | |
| 8,045 | |
| (9,118) | |
| 16,015 |
Income tax benefit (provision) | |
| (9,726) | |
| 7,495 | |
| (10,407) | |
| 15,760 |
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | | $ | 95,110 | | $ | 43,369 | | $ | 152,451 | | $ | (128,068) |
NET INVESTMENT INCOME PER SHARE—BASIC AND DILUTED | | $ | 0.62 | | $ | 0.48 | | $ | 1.20 | | $ | 1.04 |
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS PER | | $ | 1.39 | | $ | 0.66 | | $ | 2.23 | | $ | (1.97) |
WEIGHTED AVERAGE SHARES | |
| 68,514,683 | |
| 65,303,580 | |
| 68,321,701 | |
| 64,920,025 |
The accompanying notes are an integral part of these consolidated financial statements
2
MAIN STREET CAPITAL CORPORATION
Consolidated Statements of Changes in Net Assets
(dollars in thousands, except shares)
(Unaudited)
| | | | | | | | | | Total | | | | |
| | Common Stock | | Additional | | Undistributed | | | | |||||
| | Number of | | Par | | Paid‑In | | (Overdistributed) | | Total Net | ||||
|
| Shares |
| Value |
| Capital |
| Earnings |
| Asset Value | ||||
Balances at December 31, 2019 |
| 64,252,937 | | $ | 643 | | $ | 1,512,435 | | $ | 23,312 | | $ | 1,536,390 |
Public offering of common stock, net of offering costs |
| 91,458 | |
| 1 | |
| 3,854 | |
| — | |
| 3,855 |
Share‑based compensation |
| — | |
| — | |
| 2,837 | |
| — | |
| 2,837 |
Purchase of vested stock for employee payroll tax withholding | | (851) | | | — | | | (29) | | | — | | | (29) |
Dividend reinvestment |
| 108,722 | |
| 1 | |
| 3,929 | |
| — | |
| 3,930 |
Amortization of directors’ deferred compensation |
| — | |
| — | |
| 238 | |
| — | |
| 238 |
Issuance of restricted stock |
| 10,383 | |
| — | |
| — | |
| — | |
| — |
Dividends to stockholders |
| — | |
| — | |
| 93 | |
| (39,706) | |
| (39,613) |
Net decrease resulting from operations |
| — | |
| — | |
| — | |
| (171,438) | |
| (171,438) |
Balances at March 31, 2020 |
| 64,462,649 | | $ | 645 | | $ | 1,523,357 | | $ | (187,832) | | $ | 1,336,170 |
Public offering of common stock, net of offering costs |
| 824,968 | |
| 9 | |
| 26,007 | |
| — | |
| 26,016 |
Share‑based compensation |
| — | | | — | | | 2,817 | | | — | | | 2,817 |
Purchase of vested stock for employee payroll tax withholding |
| (84,094) | |
| (1) | |
| (1,730) | |
| — | |
| (1,731) |
Dividend reinvestment |
| 146,229 | |
| 1 | |
| 4,158 | |
| — | |
| 4,159 |
Amortization of directors’ deferred compensation |
| — | |
| — | |
| 224 | |
| — | |
| 224 |
Issuance of restricted stock, net of forfeited shares |
| 414,053 | |
| 4 | |
| (4) | |
| — | |
| — |
Dividends to stockholders |
| — | |
| — | |
| 99 | |
| (40,179) | |
| (40,080) |
Net increase resulting from operations |
| — | |
| — | |
| — | |
| 43,369 | |
| 43,369 |
Balances at June 30, 2020 |
| 65,763,805 | | $ | 658 | | $ | 1,554,928 | | $ | (184,642) | | $ | 1,370,944 |
| | | | | | | | | | | | | | |
Balances at December 31, 2020 |
| 67,762,032 | | $ | 677 | | $ | 1,615,940 | | $ | (101,850) | | $ | 1,514,767 |
Public offering of common stock, net of offering costs | | 117,388 | |
| 2 | |
| 3,626 | |
| — | |
| 3,628 |
Share‑based compensation | | — | |
| — | |
| 2,333 | |
| — | |
| 2,333 |
Purchase of vested stock for employee payroll tax withholding | | (180) | |
| — | |
| (7) | |
| — | |
| (7) |
Dividend reinvestment | | 106,651 | |
| 1 | |
| 3,698 | |
| — | |
| 3,699 |
Amortization of directors’ deferred compensation | | — | |
| — | |
| 195 | |
| — | |
| 195 |
Issuance of restricted stock | | 15,007 | |
| — | |
| — | |
| — | |
| — |
Dividends to stockholders | | — | |
| — | |
| 96 | |
| (41,893) | |
| (41,797) |
Net increase resulting from operations | | — | |
| — | |
| - | |
| 57,346 | |
| 57,346 |
Balances at March 31, 2021 | | 68,000,898 | | $ | 680 | | $ | 1,625,881 | | $ | (86,397) | | $ | 1,540,164 |
Public offering of common stock, net of offering costs | | 231,795 | |
| 2 | |
| 9,396 | |
| — | |
| 9,398 |
Share‑based compensation | | — | |
| — | |
| 2,759 | |
| — | |
| 2,759 |
Purchase of vested stock for employee payroll tax withholding | | (114,357) | |
| (1) | |
| (4,464) | |
| — | |
| (4,465) |
Dividend reinvestment | | 91,632 | |
| 1 | |
| 3,755 | |
| — | |
| 3,756 |
Amortization of directors’ deferred compensation | | — | |
| — | |
| 163 | |
| — | |
| 163 |
Issuance of restricted stock, net of forfeited shares | | 321,821 | |
| 3 | |
| (3) | |
| — | |
| — |
Dividends to stockholders | | — | |
| — | |
| 96 | |
| (42,140) | |
| (42,044) |
Net increase resulting from operations | | — | |
| — | |
| — | |
| 95,110 | |
| 95,110 |
Balances at June 30, 2021 | | 68,531,789 | | $ | 685 | | $ | 1,637,583 | | $ | (33,427) | | $ | 1,604,841 |
The accompanying notes are an integral part of these consolidated financial statements
3
MAIN STREET CAPITAL CORPORATION
Consolidated Statements of Cash Flows
(dollars in thousands)
(Unaudited)
| | Six Months Ended | ||||
|
| June 30, | ||||
| | 2021 |
| 2020 | ||
CASH FLOWS FROM OPERATING ACTIVITIES | | | | | | |
Net increase (decrease) in net assets resulting from operations | | $ | 152,451 | | $ | (128,068) |
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities: | | | | | | |
Investments in portfolio companies | | | (520,706) | | | (264,289) |
Proceeds from sales and repayments of debt investments in portfolio companies | | | 279,303 | | | 220,339 |
Proceeds from sales and return of capital of equity investments in portfolio companies | | | 55,915 | | | 15,341 |
Net unrealized (appreciation) depreciation | | | (78,440) | | | 180,684 |
Net realized (gain) loss | | | (2,270) | | | 30,983 |
Accretion of unearned income | | | (6,391) | | | (5,959) |
Payment-in-kind interest | | | (4,672) | | | (1,883) |
Cumulative dividends | | | (858) | | | (1,022) |
Share-based compensation expense | | | 5,092 | | | 5,654 |
Amortization of deferred financing costs | | | 1,494 | | | 1,353 |
Deferred tax (benefit) provision | | | 9,118 | | | (16,015) |
Changes in other assets and liabilities: | | | | | | |
Interest receivable and other assets | | | (5,047) | | | 7,626 |
Interest payable | | | 3,220 | | | 202 |
Accounts payable and other liabilities | | | 1,234 | | | (7,032) |
Deferred fees and other | | | 2,363 | | | 1,791 |
Net cash provided by (used in) operating activities | | | (108,194) | | | 39,705 |
| | | | | | |
CASH FLOWS FROM FINANCING ACTIVITIES | | | | | | |
Proceeds from public offering of common stock, net of offering costs | | | 13,026 | | | 29,871 |
Proceeds from public offering of 3.00% Notes due 2026 | | | 300,000 | | | - |
Dividends paid | | | (76,221) | | | (71,305) |
Proceeds from issuance of SBIC debentures | | | 52,200 | | | 25,000 |
Repayments of SBIC debentures | | | (40,000) | | | (22,000) |
Proceeds from credit facility | | | 446,000 | | | 184,000 |
Repayments on credit facility | | | (546,000) | | | (169,000) |
Debt issuance costs, net | | | (9,462) | | | (1,218) |
Purchases of vested stock for employee payroll tax withholding | | | (4,472) | | | (1,760) |
Net cash provided by (used in) financing activities | | | 135,071 | | | (26,412) |
| | | | | | |
Net increase in cash and cash equivalents | | | 26,877 | | | 13,293 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | | | 31,919 | | | 55,246 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | | $ | 58,796 | | $ | 68,539 |
| | | | | | |
Supplemental cash flow disclosures: | | | | | | |
Interest paid | | $ | 23,427 | | $ | 22,722 |
Taxes paid | | $ | 1,609 | | $ | 1,783 |
Non-cash financing activities: | | | | | | |
Shares issued pursuant to the DRIP | | $ | 7,455 | | $ | 8,089 |
The accompanying notes are an integral part of these consolidated financial statements
4
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments
June 30, 2021
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20) | | Investment Date (24) | Business Description | Type of Investment (2) (3) (15) | | Shares/Units | Rate | Maturity Date | Principal (4) | Cost (4) | Fair Value (18) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | | | | | | | | | | | | | |
Control Investments (5) | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Analytical Systems Keco Holdings, LLC | | August 16, 2019 | Manufacturer of Liquid and Gas Analyzers | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 12.00% (L+10.00%, Floor 2.00%) | 8/16/2024 | $ | 5,085 | $ | 4,838 | $ | 4,838 |
| | | | Preferred Member Units | | 3,200 | | | | | | 3,200 | | 1,370 |
| | | | Preferred Member Units | | 654 | | | | | | 654.00 | | 1,640 |
| | | | Warrants | (27) | 420 | | 8/16/2029 | | | | 316 | | - |
| | | | | | | | | | | | 9,008 | | 7,848 |
ASC Interests, LLC | | August 1, 2013 | Recreational and Educational Shooting Facility | | | | | | | | | | | |
| | | | Secured Debt | | | 13.00% | 7/31/2022 | | 1,850 | | 1,825 | | 1,825 |
| | | | Member Units | | 1,500 | | | | | | 1,500 | | 1,010 |
| | | | | | | | | | | | 3,325 | | 2,835 |
ATS Workholding, LLC | (10) | March 10, 2014 | Manufacturer of Machine Cutting Tools and Accessories | | | | | | | | | | | |
| | | | Secured Debt | (14) | | 5.00% | 8/16/2023 | | 4,902 | | 4,743 | | 2,962 |
| | | | Preferred Member Units | | 3,725,862 | | | | | | 3,726 | | - |
| | | | | | | | | | | | 8,469 | | 2,962 |
Barfly Ventures, LLC | (10) | August 31, 2015 | Casual Restaurant Group | | | | | | | | | | | |
| | | | Secured Debt | | | 7.00% | 10/31/2024 | | 711 | | 711 | | 711 |
| | | | Member Units | | 37 | | | | | | 1,584 | | 1,698 |
| | | | | | | | | | | | 2,295 | | 2,409 |
Bolder Panther Group, LLC | | December 31, 2020 | Consumer Goods and Fuel Retailer | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 10.50% (L+9.00%, Floor 1.50%) | 12/31/2025 | | 27,500 | | 27,250 | | 27,250 |
| | | | Class A Preferred Member Units | (8) | | 14.00% | | | | | 10,194 | | 10,194 |
| | | | Class B Preferred Member Units | (8) | 140,000 | 8.00% | | | | | 14,000 | | 17,420 |
| | | | | | | | | | | | 51,444 | | 54,864 |
Brewer Crane Holdings, LLC | | January 9, 2018 | Provider of Crane Rental and Operating Services | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 11.00% (L+10.00%, Floor 1.00%) | 1/9/2023 | | 8,308 | | 8,275 | | 8,275 |
| | | | Preferred Member Units | (8) | 2,950 | | | | | | 4,280 | | 5,140 |
| | | | | | | | | | | | 12,555 | | 13,415 |
Bridge Capital Solutions Corporation | | April 18, 2012 | Financial Services and Cash Flow Solutions Provider | | | | | | | | | | | |
| | | | Secured Debt | | | 13.00% | 12/11/2024 | | 8,813 | | 8,752 | | 8,752 |
| | | | Warrants | (27) | 82 | | 7/25/2026 | | | | 200 | | 1,574 |
| | | | | | | | 7/25/2026 | | | | 1,932 | | 2,156 |
| | | | Secured Debt | (30) | | 13.00% | 12/11/2024 | | 1,000 | | 1,000 | | 1,000 |
| | | | Preferred Member Units | (8) (30) | 17,742 | | | | | | 1,000 | | 1,000 |
| | | | | | | | | | | | 12,884 | | 14,482 |
5
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2021
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20) | | Investment Date (24) | Business Description | Type of Investment (2) (3) (15) | | Shares/Units | Rate | Maturity Date | Principal (4) | Cost (4) | Fair Value (18) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Café Brazil, LLC | | April 20, 2004 | Casual Restaurant Group | | | | | | | | | | | |
| | | | Member Units | (8) | 1,233 | | | | | | 1,742 | | 2,490 |
| | | | | | | | | | | | | | |
California Splendor Holdings LLC | | March 30, 2018 | Processor of Frozen Fruits | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 11.00% (L+10.00%, Floor 1.00%) | 3/30/2023 | | 28,000 | | 27,817 | | 27,817 |
| | | | Preferred Member Units | (8) | 6,725 | | | | | | 8,878 | | 8,878 |
| | | | Preferred Member Units | (8) | 6,157 | | | | | | 10,775 | | 9,138 |
| | | | | | | | | | | | 47,470 | | 45,833 |
CBT Nuggets, LLC | | June 1, 2006 | Produces and Sells IT Training Certification Videos | | | | | | | | | | | |
| | | | Member Units | (8) | 416 | | | | | | 1,300 | | 52,620 |
| | | | | | | | | | | | | | |
Centre Technologies Holdings, LLC | | January 4, 2019 | Provider of IT Hardware Services and Software Solutions | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 12.00% (L+10.00%, Floor 2.00%) | 1/4/2024 | | 9,722 | | 9,665 | | 9,665 |
| | | | Preferred Member Units | | 12,696 | | | | | | 5,840 | | 5,840 |
| | | | | | | | | | | | 15,505 | | 15,505 |
Chamberlin Holding LLC | | February 26, 2018 | Roofing and Waterproofing Specialty Contractor | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 9.00% (L+8.00%, Floor 1.00%) | 2/26/2023 | | 13,817 | | 13,762 | | 13,817 |
| | | | Member Units | (8) | 4,347 | | | | | | 11,440 | | 26,650 |
| | | | Member Units | (8) (30) | 1,047,146 | | | | | | 1,322 | | 1,380 |
| | | | | | | | | | | | 26,524 | | 41,847 |
Charps, LLC | | February 3, 2017 | Pipeline Maintenance and Construction | | | | | | | | | | | |
| | | | Unsecured Debt | | | 10.00% | 1/31/2024 | | 5,770 | | 4,639 | | 5,091 |
| | | | Preferred Member Units | (8) | 1,600 | | | | | | 400 | | 11,580 |
| | | | | | | | | | | | 5,039 | | 16,671 |
Clad-Rex Steel, LLC | | December 20, 2016 | Specialty Manufacturer of Vinyl-Clad Metal | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 10.50% (L+9.50%, Floor 1.00%) | 1/15/2024 | | 10,480 | | 10,385 | | 10,385 |
| | | | Member Units | (8) | 717 | | | | | | 7,280 | | 9,420 |
| | | | Secured Debt | (30) | | 10.00% | 12/20/2036 | | 1,096 | | 1,086 | | 1,086 |
| | | | Member Units | (30) | 800 | | | | | | 210 | | 530 |
| | | | | | | | | | | | 18,961 | | 21,421 |
CMS Minerals Investments | | January 30, 2015 | Oil & Gas Exploration & Production | | | | | | | | | | | |
| | | | Member Units | (8) (30) | 100 | | | | | | 2,072 | | 1,970 |
| | | | | | | | | | | | | | |
6
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2021
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20) | | Investment Date (24) | Business Description | Type of Investment (2) (3) (15) | | Shares/Units | Rate | Maturity Date | Principal (4) | Cost (4) | Fair Value (18) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cody Pools, Inc. | | March 6, 2020 | Designer of Residential and Commercial Pools | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 12.25% (L+10.50%, Floor 1.75%) | 3/6/2025 | | 11,847 | | 11,752 | | 11,847 |
| | | | Preferred Member Units | | 587 | | | | | | 8,317 | | 22,200 |
| | | | | | | | | | | | 20,069 | | 34,047 |
Colonial Electric Company LLC | | March 31, 2021 | Provider of Electrical Contracting Services | | | | | | | | | | | |
| | | | Secured Debt | | | 12.00% | 3/31/2026 | | 25,200 | | 24,958 | | 24,958 |
| | | | Preferred Member Units | | 17,280 | | | | | | 7,680 | | 7,680 |
| | | | | | | | | | | | 32,638 | | 32,638 |
CompareNetworks Topco, LLC | | January 29, 2019 | Internet Publishing and Web Search Portals | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 10.00% (L+9.00%, Floor 1.00%) | 1/29/2024 | | 7,254 | | 7,220 | | 7,254 |
| | | | Preferred Member Units | (8) | 1,975 | | | | | | 1,975 | | 10,030 |
| | | | | | | | | | | | 9,195 | | 17,284 |
Copper Trail Fund Investments | (12) (13) | July 17, 2017 | Investment Partnership | | | | | | | | | | | |
| | | | LP Interests (CTMH, LP) | (31) | 38.8% | | | | | | 710 | | 710 |
| | | | | | | | | | | | | | |
Datacom, LLC | | May 30, 2014 | Technology and Telecommunications Provider | | | | | | | | | | | |
| | | | Secured Debt | | | 5.00% | 12/31/2025 | | 8,946 | | 8,121 | | 8,121 |
| | | | Preferred Member Units | | 9,000 | | | | | | 2,610 | | 2,610 |
| | | | | | | | | | | | 10,731 | | 10,731 |
Digital Products Holdings LLC | | April 1, 2018 | Designer and Distributor of Consumer Electronics | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 11.00% (L+10.00%, Floor 1.00%) | 4/1/2023 | | 17,513 | | 17,439 | | 17,439 |
| | | | Preferred Member Units | (8) | 3,857 | | | | | | 9,501 | | 9,835 |
| | | | | | | | | | | | 26,940 | | 27,274 |
Direct Marketing Solutions, Inc. | | February 13, 2018 | Provider of Omni-Channel Direct Marketing Services | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 12.00% (L+11.00%, Floor 1.00%) | 2/13/2023 | | 15,090 | | 15,024 | | 15,024 |
| | | | Preferred Stock | | 8,400 | | | | | | 8,400 | | 17,820 |
| | | | | | | | | | | | 23,424 | | 32,844 |
Gamber-Johnson Holdings, LLC | | June 24, 2016 | Manufacturer of Ruggedized Computer Mounting Systems | | | | | | | | | | | |
| | | | Secured Debt | (9) (17) | | 9.00% (L+7.00%, Floor 2.00%) | 6/24/2021 | | 20,638 | | 20,638 | | 20,638 |
| | | | Member Units | (8) | 9,042 | | | | | | 17,692 | | 56,250 |
| | | | | | | | | | | | 38,330 | | 76,888 |
Garreco, LLC | | July 15, 2013 | Manufacturer and Supplier of Dental Products | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 9.00% (L+8.00%, Floor 1.00%, Ceiling 1.50%) | 7/31/2022 | | 4,519 | | 4,519 | | 4,519 |
| | | | Member Units | | 1,200 | | | | | | 1,200 | | 1,760 |
| | | | | | | | | | | | 5,719 | | 6,279 |
7
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2021
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20) | | Investment Date (24) | Business Description | Type of Investment (2) (3) (15) | | Shares/Units | Rate | Maturity Date | Principal (4) | Cost (4) | Fair Value (18) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
GRT Rubber Technologies LLC | | December 19, 2014 | Manufacturer of Engineered Rubber Products | | | | | | | | | | | |
| | | | Secured Debt | | | 7.09% (L+7.00%) | 12/31/2023 | | 16,775 | | 16,775 | | 16,775 |
| | | | Member Units | (8) | 5,879 | | | | | | 13,065 | | 44,900 |
| | | | | | | | | | | | 29,840 | | 61,675 |
Gulf Manufacturing, LLC | | August 31, 2007 | Manufacturer of Specialty Fabricated Industrial Piping Products | | | | | | | | | | | |
| | | | Member Units | (8) | 438 | | | | | | 2,980 | | 5,300 |
| | | | | | | | | | | | | | |
Gulf Publishing Holdings, LLC | | April 29, 2016 | Energy Industry Focused Media and Publishing | | | | | | | | | | | |
| | | | Secured Debt | (9) (17) (19) | | 10.50% (5.25% Cash, 5.25% PIK) (L+9.50%, Floor 1.00%) | 9/30/2020 | | 257 | | 257 | | 257 |
| | | | Secured Debt | (17) (19) | | 12.50% (6.25% Cash, 6.25% PIK) | 4/29/2021 | | 13,565 | | 13,565 | | 10,722 |
| | | | Member Units | | 3,681 | | | | | | 3,681 | | - |
| | | | | | | | | | | | 17,503 | | 10,979 |
Harris Preston Fund Investments | (12) (13) | October 1, 2017 | Investment Partnership | | | | | | | | | | | |
| | | | LP Interests (2717 MH, L.P.) | (31) | 49.3% | | | | | | 2,646 | | 2,749 |
| | | | | | | | | | | | | | |
Harrison Hydra-Gen, Ltd. | | June 4, 2010 | Manufacturer of Hydraulic Generators | | | | | | | | | | | |
| | | | Common Stock | | 107,456 | | | | | | 718 | | 4,850 |
| | | | | | | | | | | | | | |
J&J Services, Inc. | | October 31, 2019 | Provider of Dumpster and Portable Toilet Rental Services | | | | | | | | | | | |
| | | | Secured Debt | | | 11.50% | 10/31/2024 | | 12,000 | | 11,914 | | 12,000 |
| | | | Preferred Stock | | 2,814 | | | | | | 7,085 | | 13,050 |
| | | | | | | | | | | | 18,999 | | 25,050 |
Jensen Jewelers of Idaho, LLC | | November 14, 2006 | Retail Jewelry Store | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 10.00% (Prime+6.75%, Floor 2.00%) | 11/14/2023 | | 3,000 | | 2,980 | | 3,000 |
| | | | Member Units | (8) | 627 | | | | | | 811 | | 9,610 |
| | | | | | | | | | | | 3,791 | | 12,610 |
KBK Industries, LLC | | January 23, 2006 | Manufacturer of Specialty Oilfield and Industrial Products | | | | | | | | | | | |
| | | | Member Units | (8) | 325 | | | | | | 783 | | 13,530 |
| | | | | | | | | | | | | | |
Kickhaefer Manufacturing Company, LLC | | October 31, 2018 | Precision Metal Parts Manufacturing | | | | | | | | | | | |
| | | | Secured Debt | | | 11.50% | 10/31/2023 | | 21,215 | | 21,098 | | 21,098 |
| | | | Member Units | | 581 | | | | | | 12,240 | | 12,240 |
| | | | Secured Debt | | | 9.00% | 10/31/2048 | | 3,932 | | 3,893 | | 3,893 |
| | | | Member Units | (8) (30) | 800 | | | | | | 992 | | 1,210 |
| | | | | | | | | | | | 38,223 | | 38,441 |
8
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2021
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20) | | Investment Date (24) | Business Description | Type of Investment (2) (3) (15) | | Shares/Units | Rate | Maturity Date | Principal (4) | Cost (4) | Fair Value (18) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Force Information, LLC | | July 28, 2017 | Provider of Customer Experience Management Services | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 12.00% (L+11.00%, Floor 1.00%) | 7/28/2023 | | 3,400 | | 3,400 | | 3,400 |
| | | | Secured Debt | (14) (19) | | 12.00% PIK | 7/28/2023 | | 26,079 | | 25,952 | | 13,268 |
| | | | Member Units | | 743,921 | | | | | | 16,642 | | - |
| | | | | | | | | | | | 45,994 | | 16,668 |
MH Corbin Holding LLC | | August 31, 2015 | Manufacturer and Distributor of Traffic Safety Products | | | | | | | | | | | |
| | | | Secured Debt | (19) | | 13.00% (10.00% Cash, 3.00% PIK) | 3/31/2022 | | 8,410 | | 8,384 | | 7,615 |
| | | | Preferred Member Units | | 66,000 | | | | | | 4,400 | | - |
| | | | Preferred Member Units | | 4,000 | | | | | | 6,000 | | - |
| | | | | | | | | | | | 18,784 | | 7,615 |
MS Private Loan Fund I, LP | (12) (13) | January 26, 2021 | Investment Partnership | | | | | | | | | | | |
| | | | Unsecured Debt | | | 5.00% | 6/30/2022 | | 16,220 | | 16,220 | | 16,220 |
| | | | LP Interests | (31) | 12.1% | | | | | | 285 | | 285 |
| | | | | | | | | | | | 16,505 | | 16,505 |
MSC Adviser I, LLC | (16) | November 22, 2013 | Third Party Investment Advisory Services | | | | | | | | | | | |
| | | | Member Units | (8) | | | | | | | 29,500 | | 121,730 |
| | | | | | | | | | | | | | |
MSC Income Fund Inc. | (12) (13) | January 28, 2021 | Business Development Company | | | | | | | | | | | |
| | | | Unsecured Debt | | | 5.00% | 1/28/2026 | | 40,000 | | 39,630 | | 39,840 |
| | | | | | | | | | | | | | |
Mystic Logistics Holdings, LLC | | August 18, 2014 | Logistics and Distribution Services Provider for Large Volume Mailers | | | | | | | | | | | |
| | | | Secured Debt | | | 12.00% | 1/17/2022 | | 6,709 | | 6,703 | | 6,703 |
| | | | Common Stock | (8) | 5,873 | | | | | | 2,720 | | 5,920 |
| | | | | | | | | | | | 9,423 | | 12,623 |
NAPCO Precast, LLC | | January 31, 2008 | Precast Concrete Manufacturing | | | | | | | | | | | |
| | | | Member Units | (8) | 2,955 | | | | | | 2,975 | | 15,570 |
| | | | | | | | | | | | | | |
Nebraska Vet AcquireCo, LLC | | December 31, 2020 | Mixed-Animal Veterinary and Animal Health Product Provider | | | | | | | | | | | |
| | | | Secured Debt | | | 12.00% | 12/31/2025 | | 10,500 | | 10,404 | | 10,404 |
| | | | Preferred Member Units | | 6,500 | | | | | | 6,500 | | 6,500 |
| | | | | | | | | | | | 16,904 | | 16,904 |
NexRev LLC | | February 28, 2018 | Provider of Energy Efficiency Products & Services | | | | | | | | | | | |
| | | | Secured Debt | | | 11.00% | 2/28/2023 | | 16,661 | | 16,597 | | 16,488 |
| | | | Preferred Member Units | (8) | 86,400,000 | | | | | | 6,880 | | 3,280 |
| | | | | | | | | | | | 23,477 | | 19,768 |
9
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2021
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20) | | Investment Date (24) | Business Description | Type of Investment (2) (3) (15) | | Shares/Units | Rate | Maturity Date | Principal (4) | Cost (4) | Fair Value (18) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
NRI Clinical Research, LLC | | September 8, 2011 | Clinical Research Service Provider | | | | | | | | | | | |
| | | | Secured Debt | | | 9.00% | 6/8/2022 | | 4,775 | | 4,747 | | 4,775 |
| | | | Member Units | (8) | 1,454,167 | | | | | | 500 | | 7,170 |
| | | | | | | | | | | | 265 | | 864 |
| | | | Warrants | (27) | 251,723 | | 6/8/2027 | | | | 252 | | 2,030 |
| | | | | | | | | | | | 5,764 | | 14,839 |
NRP Jones, LLC | | December 22, 2011 | Manufacturer of Hoses, Fittings and Assemblies | | | | | | | | | | | |
| | | | Secured Debt | | | 12.00% | 3/20/2023 | | 2,080 | | 2,080 | | 2,080 |
| | | | Member Units | (8) | 65,962 | | | | | | 114 | | 114 |
| | | | | | | | | | | | 3,603 | | 3,125 |
| | | | | | | | | | | | 5,797 | | 5,319 |
NuStep, LLC | | January 31, 2017 | Designer, Manufacturer and Distributor of Fitness Equipment | | | | | | | | | | | |
| | | | Secured Debt | | | 11.00% | 1/31/2022 | | 17,240 | | 17,214 | | 17,240 |
| | | | Preferred Member Units | | 406 | | | | | | 10,200 | | 12,350 |
| | | | | | | | | | | | 27,414 | | 29,590 |
OMi Holdings, Inc. | | April 1, 2008 | Manufacturer of Overhead Cranes | | | | | | | | | | | |
| | | | Common Stock | (8) | 1,500 | | | | | | 1,080 | | 18,830 |
| | | | | | | | | | | | | | |
Pearl Meyer Topco LLC | | April 27, 2020 | Provider of Executive Compensation Consulting Services | | | | | | | | | | | |
| | | | Secured Debt | | | 12.00% | 4/27/2025 | | 33,674 | | 33,400 | | 33,674 |
| | | | Member Units | (8) | 13,800 | | | | | | 13,000 | | 18,490 |
| | | | | | | | | | | | 46,400 | | 52,164 |
Pegasus Research Group, LLC | | January 6, 2011 | Provider of Telemarketing and Data Services | | | | | | | | | | | |
| | | | Member Units | | 460 | | | | | | 1,290 | | 8,270 |
| | | | | | | | | | | | | | |
PPL RVs, Inc. | | June 10, 2010 | Recreational Vehicle Dealer | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 7.50% (L+7.00%, Floor 0.50%) | 11/15/2022 | | 11,655 | | 11,608 | | 11,619 |
| | | | Common Stock | (8) | 2,000 | | | | | | 2,150 | | 13,130 |
| | | | | | | | | | | | 13,758 | | 24,749 |
Principle Environmental, LLC | | February 1, 2011 | Noise Abatement Service Provider | | | | | | | | | | | |
| | | | Secured Debt | | | 13.00% | 4/30/2023 | | 6,397 | | 6,346 | | 6,346 |
| | | | Preferred Member Units | | 19,631 | | | | | | 4,600 | | 10,140 |
| | | | Common Stock | | 1,036 | | | | | | 1,200 | | 760 |
| | | | | | | | | | | | 12,146 | | 17,246 |
Quality Lease Service, LLC | | June 8, 2015 | Provider of Rigsite Accommodation Unit Rentals and Related Services | | | | | | | | | | | |
| | | | Member Units | | 1,000 | | | | | | 9,813 | | 2,899 |
| | | | | | | | | | | | | | |
River Aggregates, LLC | | March 30, 2011 | Processor of Construction Aggregates | | | | | | | | | | | |
| | | | Member Units | (30) | 1,500 | | | | | | 369 | | 3,290 |
| | | | | | | | | | | | | | |
10
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2021
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20) | | Investment Date (24) | Business Description | Type of Investment (2) (3) (15) | | Shares/Units | Rate | Maturity Date | Principal (4) | Cost (4) | Fair Value (18) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Tedder Industries, LLC | | August 31, 2018 | Manufacturer of Firearm Holsters and Accessories | | | | | | | | | | | |
| | | | Secured Debt | | | 12.00% | 8/31/2023 | | 15,360 | | 15,286 | | 15,286 |
| | | | Preferred Member Units | | 479 | | | | | | 8,136 | | 8,136 |
| | | | | | | | | | | | 23,422 | | 23,422 |
Trantech Radiator Topco, LLC | | May 31, 2019 | Transformer Cooling Products and Services | | | | | | | | | | | |
| | | | Secured Debt | | | 12.00% | 5/31/2024 | | 8,720 | | 8,652 | | 8,652 |
| | | | Common Stock | (8) | 615 | | | | | | 4,655 | | 5,990 |
| | | | | | | | | | | | 13,307 | | 14,642 |
UnionRock Energy Fund II, LP | (12) (13) | June 15, 2020 | Investment Partnership | | | | | | | | | | | |
| | | | LP Interests | (31) | 49.6% | | | | | | 4,048 | | 4,786 |
| | | | | | | | | | | | | | |
Vision Interests, Inc. | | June 5, 2007 | Manufacturer / Installer of Commercial Signage | | | | | | | | | | | |
| | | | Secured Debt | | | 13.00% | 9/30/2022 | | 2,028 | | 2,028 | | 2,028 |
| | | | Series A Preferred Stock | | 3,000,000 | | | | | | 3,000 | | 3,000 |
| | | | | | | | | | | | 5,028 | | 5,028 |
Ziegler’s NYPD, LLC | | October 1, 2008 | Casual Restaurant Group | | | | | | | | | | | |
| | | | Secured Debt | | | 12.00% | 10/1/2022 | | 625 | | 625 | | 625 |
| | | | Secured Debt | | | 6.50% | 10/1/2022 | | 1,000 | | 1,000 | | 1,000 |
| | | | Secured Debt | | | 14.00% | 10/1/2022 | | 2,750 | | 2,750 | | 2,750 |
| | | | Preferred Member Units | | 10,072 | | | | | | 2,834 | | 2,070 |
| | | | Warrants | (27) | 587 | | 10/1/2025 | | | | 600 | | - |
| | | | | | | | | | | | 7,809 | | 6,445 |
Subtotal Control Investments (75.4% of net assets at fair value) | | | | | | | | | | | $ | 882,469 | $ | 1,209,793 |
11
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2021
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20) | | Investment Date (24) | Business Description | Type of Investment (2) (3) (15) | | Shares/Units | Rate | Maturity Date | Principal (4) | Cost (4) | Fair Value (18) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | | | | | | | | | | | | | |
Affiliate Investments (6) | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
AAC Holdings, Inc. | (11) | June 30, 2017 | Substance Abuse Treatment Service Provider | | | | | | | | | | | |
| | | | Secured Debt | (19) | | 18.00% (10.00% Cash, 8.00% PIK) | 6/25/2025 | $ | 9,793 | $ | 9,588 | $ | 9,499 |
| | | | Common Stock | | 593,928 | | | | | | 3,148 | | 2,079 |
| | | | Warrants | (27) | 554,353 | | 12/11/2025 | | | | - | | 1,940 |
| | | | | | | | | | | | 12,736 | | 13,518 |
AFG Capital Group, LLC | | November 7, 2014 | Provider of Rent-to-Own Financing Solutions and Services | | | | | | | | | | | |
| | | | Secured Debt | | | 10.00% | 5/25/2022 | | 318 | | 318 | | 318 |
| | | | Preferred Member Units | | 186 | | | | | | 1,200 | | 6,960 |
| | | | | | | | | | | | 1,518 | | 7,278 |
BBB Tank Services, LLC | | April 8, 2016 | Maintenance, Repair and Construction Services to the Above-Ground Storage Tank Market | | | | | | | | | | | |
| | | | Unsecured Debt | (9) (17) | | 12.00% (L+11.00%, Floor 1.00%) | 4/8/2021 | | 4,800 | | 4,800 | | 4,749 |
| | | | Preferred Stock (non-voting) | (8) (19) | | 15.00% PIK | | | | | 162 | | - |
| | | | Member Units | | 800,000 | | | | | | 800 | | - |
| | | | | | | | | | | | 5,762 | | 4,749 |
Boccella Precast Products LLC | | June 30, 2017 | Manufacturer of Precast Hollow Core Concrete | | | | | | | | | | | |
| | | | Member Units | (8) | 2,160,000 | | | | | | 2,256 | | 4,950 |
| | | | | | | | | | | | | | |
Buca C, LLC | | June 30, 2015 | Casual Restaurant Group | | | | | | | | | | | |
| | | | Secured Debt | (9) (17) | | 10.25% (L+9.25%, Floor 1.00%) | 6/30/2020 | | 19,491 | | 19,491 | | 14,370 |
| | | | Preferred Member Units | (19) | 6 | 6.00% PIK | | | | | 4,770 | | - |
| | | | | | | | | | | | 24,261 | | 14,370 |
CAI Software LLC | | October 10, 2014 | Provider of Specialized Enterprise Resource Planning Software | | | | | | | | | | | |
| | | | Secured Debt | | | 12.50% | 12/7/2023 | | 67,721 | | 67,343 | | 67,721 |
| | | | Member Units | (8) | 77,960 | | | | | | 174 | | 12,010 |
| | | | | | | | | | | | 67,517 | | 79,731 |
Chandler Signs Holdings, LLC | (10) | January 4, 2016 | Sign Manufacturer | | | | | | | | | | | |
| | | | Class A Units | | 1,500,000 | | | | | | 1,500 | | 650 |
| | | | | | | | | | | | | | |
Classic H&G Holdings, LLC | | March 12, 2020 | Provider of Engineered Packaging Solutions | | | | | | | | | | | |
| | | | Secured Debt | | | 10.00% | 3/12/2025 | | 19,274 | | 19,121 | | 19,274 |
| | | | Preferred Member Units | (8) | 154 | | | | | | 5,760 | | 11,760 |
| | | | | | | | | | | | 24,881 | | 31,034 |
Congruent Credit Opportunities Funds | (12) (13) | January 24, 2012 | Investment Partnership | | | | | | | | | | | |
| | | | LP Interests (Congruent Credit Opportunities Fund | (8) (31) | 17.4% | | | | | | 11,741 | | 11,362 |
| | | | | | | | | | | | | | |
12
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2021
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20) | | Investment Date (24) | Business Description | Type of Investment (2) (3) (15) | | Shares/Units | Rate | Maturity Date | Principal (4) | Cost (4) | Fair Value (18) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Copper Trail Fund Investments | (12) (13) | July 17, 2017 | Investment Partnership | | | | | | | | | | | |
| | | | LP Interests (Copper Trail Energy Fund I, LP) | (8) (31) | 12.4% | | | | | | 2,161 | | 1,843 |
| | | | | | | | | | | | | | |
Dos Rios Partners | (12) (13) | April 25, 2013 | Investment Partnership | | | | | | | | | | | |
| | | | LP Interests (Dos Rios Partners, LP) | (31) | 20.2% | | | | | | 6,605 | | 7,024 |
| | | | LP Interests (Dos Rios Partners - A, LP) | (31) | 6.4% | | | | | | 2,097 | | 2,230 |
| | | | | | | | | | | | 8,702 | | 9,254 |
Dos Rios Stone Products LLC | (10) | June 27, 2016 | Limestone and Sandstone Dimension Cut Stone Mining Quarries | | | | | | | | | | | |
| | | | Class A Preferred Units | (30) | 2,000,000 | | | | | | 2,000 | | 1,019 |
| | | | | | | | | | | | | | |
East Teak Fine Hardwoods, Inc. | | April 13, 2006 | Distributor of Hardwood Products | | | | | | | | | | | |
| | | | Common Stock | | 6,250 | | | | | | 480 | | 430 |
| | | | | | | | | | | | | | |
EIG Fund Investments | (12) (13) | November 6, 2015 | Investment Partnership | | | | | | | | | | | |
| | | | LP Interests (EIG Global Private Debt Fund-A, L.P.) | (8) (31) | 11.1% | | | | | | 606 | | 485 |
| | | | | | | | | | | | | | |
Freeport Financial Funds | (12) (13) | June 13, 2013 | Investment Partnership | | | | | | | | | | | |
| | | | LP Interests (Freeport Financial SBIC Fund LP) | (31) | 9.3% | | | | | | 5,974 | | 5,650 |
| | | | LP Interests (Freeport First Lien Loan Fund III LP) | (8) (31) | 6.0% | | | | | | 8,468 | | 8,004 |
| | | | | | | | | | | | 14,442 | | 13,654 |
GFG Group, LLC. | | March 31, 2021 | Grower and Distributor of a Variety of Plants and Products to Other Wholesalers, Retailers and Garden Centers | | | | | | | | | | | |
| | | | Secured Debt | | | 12.00% | 3/31/2026 | | 12,545 | | 12,426 | | 12,426 |
| | | | Preferred Member Units | (8) | 226 | | | | | | 4,900 | | 4,900 |
| | | | | | | | | | | | 17,326 | | 17,326 |
Harris Preston Fund Investments | (12) (13) | August 9, 2017 | Investment Partnership | | | | | | | | | | | |
| | | | LP Interests (HPEP 3, L.P.) | (31) | 8.2% | | | | | | 3,445 | | 4,163 |
| | | | | | | | | | | | | | |
Hawk Ridge Systems, LLC | (13) | December 2, 2016 | Value-Added Reseller of Engineering Design and Manufacturing Solutions | | | | | | | | | | | |
| | | | Secured Debt | | | 9.50% | 12/2/2023 | | 18,400 | | 18,382 | | 18,400 |
| | | | Preferred Member Units | (8) | 226 | | | | | | 2,850 | | 10,630 |
| | | | Preferred Member Units | (30) | 226 | | | | | | 150 | | 560 |
| | | | | | | | | | | | 21,382 | | 29,590 |
13
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2021
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20) | | Investment Date (24) | Business Description | Type of Investment (2) (3) (15) | | Shares/Units | Rate | Maturity Date | Principal (4) | Cost (4) | Fair Value (18) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Houston Plating and Coatings, LLC | | January 8, 2003 | Provider of Plating and Industrial Coating Services | | | | | | | | | | | |
| | | | Unsecured Convertible Debt | | | 8.00% | 5/1/2022 | | 3,000 | | 3,000 | | 2,900 |
| | | | Member Units | (8) | 322,297 | | | | | | 2,352 | | 3,520 |
| | | | | | | | | | | | 5,352 | | 6,420 |
I-45 SLF LLC | (12) (13) | October 20, 2015 | Investment Partnership | | | | | | | | | | | |
| | | | Member Units (Fully diluted 20.0%; 24.40% profits | (8) (31) | 20.00% Fully Diluted, 24.40% Profits Interest | | | | | | 19,000 | | 15,466 |
| | | | | | | | | | | | | | |
L.F. Manufacturing Holdings, LLC | (10) | December 23, 2013 | Manufacturer of Fiberglass Products | | | | | | | | | | | |
| | | | Preferred Member Units (non-voting) | (8) (19) | | 14.00% PIK | | | | | 100 | | 100 |
| | | | Member Units | | 2,179,001 | | | | | | 2,019 | | 1,910 |
| | | | | | | | | | | | 2,119 | | 2,010 |
OnAsset Intelligence, Inc. | | April 18, 2011 | Provider of Transportation Monitoring / Tracking Products and Services | | | | | | | | | | | |
| | | | Secured Debt | (19) | | 12.00% PIK | 12/31/2022 | | 7,748 | | 7,748 | | 7,748 |
| | | | Unsecured Debt | (19) | | 10.00% PIK | 12/31/2022 | | 67 | | 67 | | 67 |
| | | | Preferred Stock | | 912 | | | | | | 1,981 | | - |
| | | | Common Stock | | 635 | | | | | | 830 | | - |
| | | | Warrants | (27) | 4,699 | | 5/10/2023 | | | | 1,089 | | - |
| | | | | | | | | | | | 11,715 | | 7,815 |
Rocaceia, LLC (Quality Lease and Rental Holdings, LLC) | | January 8, 2013 | Provider of Rigsite Accommodation Unit Rentals and Related Services | | | | | | | | | | | |
| | | | Secured Debt | (14) (32) | | 12.00% | 1/8/2018 | | 30,369 | | 29,865 | | - |
| | | | Preferred Member Units | | 250 | | | | | | 2,500 | | - |
| | | | | | | | | | | | 32,365 | | - |
SI East, LLC | | August 31, 2018 | Rigid Industrial Packaging Manufacturing | | | | | | | | | | | |
| | | | Secured Debt | | | 8.75% | 8/31/2023 | | 29,175 | | 29,030 | | 29,173 |
| | | | Preferred Member Units | (8) | 157 | | | | | | 6,000 | | 15,030 |
| | | | | | | | | | | | 35,030 | | 44,203 |
Slick Innovations, LLC | | September 13, 2018 | Text Message Marketing Platform | | | | | | | | | | | |
| | | | Secured Debt | | | 12.00% | 9/13/2023 | | 5,400 | | 5,309 | | 5,400 |
| | | | Common Stock | | 70,000 | | | | | | 700 | | 1,510 |
| | | | Warrants | (27) | 18,084 | | 9/13/2028 | | | | 181 | | 400 |
| | | | | | | | | | | | 6,190 | | 7,310 |
Superior Rigging & Erecting Co. | | August 31, 2020 | Provider of Steel Erecting, Crane Rental & Rigging Services | | | | | | | | | | | |
| | | | Secured Debt | | | 12.00% | 8/31/2025 | | 21,500 | | 21,315 | | 21,315 |
| | | | Preferred Member Units | | 1,571 | | | | | | 4,500 | | 4,500 |
| | | | | | | | | | | | 25,815 | | 25,815 |
14
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2021
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20) | | Investment Date (24) | Business Description | Type of Investment (2) (3) (15) | | Shares/Units | Rate | Maturity Date | Principal (4) | Cost (4) | Fair Value (18) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
UniTek Global Services, Inc. | (11) | April 15, 2011 | Provider of Outsourced Infrastructure Services | | | | | | | | | | | |
| | | | Secured Debt | (9) (19) | | 8.50% (6.50% cash, 2.00% PIK) (2.00% PIK, L+5.50% Floor 1.00%) | 8/20/2024 | | 2,364 | | 2,349 | | 2,147 |
| | | | Secured Debt | (19) | | 15.00% PIK | 2/20/2025 | | 1,153 | | 1,153 | | 1,508 |
| | | | Preferred Stock | (8) (19) | 1,133,102 | 20.00% PIK | | | | | 1,590 | | 2,743 |
| | | | Preferred Stock | (14) (19) | 1,521,122 | 20.00% PIK | | | | | 2,188 | | - |
| | | | Preferred Stock | (14) (19) | 2,281,682 | 19.00% PIK | | | | | 3,667 | | - |
| | | | Common Stock | | 945,507 | | | | | | - | | - |
| | | | Preferred Stock | (14) (19) | 4,336,866 | 13.50% PIK | | | | | 7,924 | | - |
| | | | | | | | | | | | 18,871 | | 6,398 |
Universal Wellhead Services Holdings, LLC | (10) | October 30, 2014 | Provider of Wellhead Equipment, Designs, and Personnel to the Oil & Gas Industry | | | | | | | | | | | |
| | | | Preferred Member Units | (19) (30) | 716,949 | 14.00% PIK | | | | | 1,032 | | - |
| | | | Member Units | (30) | 4,000,000 | | | | | | 4,000 | | - |
| | | | | | | | | | | | 5,032 | | - |
Volusion, LLC | | January 26, 2015 | Provider of Online Software-as-a-Service eCommerce Solutions | | | | | | | | | | | |
| | | | Secured Debt | (17) | | 11.50% | 1/26/2020 | | 20,234 | | 20,234 | | 20,234 |
| | | | Unsecured Convertible Debt | | | 8.00% | 11/16/2023 | | 409 | | 409 | | 409 |
| | | | Preferred Member Units | | 4,876,670 | | | | | | 14,000 | | 5,990 |
| | | | Warrants | (27) | 1,831,355 | | 1/26/2025 | | | | 2,576 | | - |
| | | | | | | | | | | | 37,219 | | 26,633 |
Subtotal Affiliate Investments (24.1% of net assets at fair value) | | | | | | | | | | | $ | 421,424 | $ | 387,476 |
15
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2021
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20) | | Investment Date (24) | Business Description | Type of Investment (2) (3) (15) | | Shares/Units | Rate | Maturity Date | Principal (4) | Cost (4) | Fair Value (18) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | | | | | | | | | | | | | |
Non-Control/Non-Affiliate Investments (7) | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Acousti Engineering Company of Florida | (10) | November 2, 2020 | Interior Subcontractor Providing Acoustical Walls and Ceilings | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 10.00% (L+8.50%, Floor 1.50%) | 11/2/2025 | $ | 12,381 | $ | 12,261 | $ | 12,376 |
| | | | Secured Debt | (9) | | 14.00% (L+12.50%, Floor 1.50%) | 11/2/2025 | | 860 | | 851 | | 851 |
| | | | | | | | | | | | 13,112 | | 13,227 |
Adams Publishing Group, LLC | (10) | November 19, 2015 | Local Newspaper Operator | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 8.75% (L+7.00%, Floor 1.75%) | 7/3/2023 | | 5,358 | | 5,267 | | 5,318 |
| | | | | | | | | | | | | | |
ADS Tactical, Inc. | (11) | March 7, 2017 | Value-Added Logistics and Supply Chain Provider to the Defense Industry | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 6.75% (L+5.75%, Floor 1.00%) | 3/19/2026 | | 24,038 | | 23,569 | | 24,219 |
| | | | | | | | | | | | | | |
Affordable Care Holding Corp. | (10) | May 9, 2019 | Dental Support Organization | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 5.75% (L+4.75%, Floor 1.00%) | 10/22/2022 | | 14,171 | | 14,038 | | 14,162 |
| | | | | | | | | | | | | | |
American Nuts, LLC | (10) | April 10, 2018 | Roaster, Mixer and Packager of Bulk Nuts and Seeds | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 9.00% (L+8.00%, Floor 1.00%) | 4/10/2023 | | 12,074 | | 11,932 | | 12,074 |
| | | | | | | | | | | | | | |
American Teleconferencing Services, Ltd. | (11) | May 19, 2016 | Provider of Audio Conferencing and Video Collaboration Solutions | | | | | | | | | | | |
| | | | Secured Debt | (9) (14) | | 7.50% (L+6.50%, Floor 1.00%) | 6/8/2023 | | 17,350 | | 16,687 | | 7,612 |
| | | | | | | | | | | | | | |
Arcus Hunting LLC | (10) | January 6, 2015 | Manufacturer of Bowhunting and Archery Products and Accessories | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 11.00% (L+10.00%, Floor 1.00%) | 3/31/2022 | | 12,591 | | 12,493 | | 12,591 |
| | | | | | | | | | | | | | |
Arrow International, Inc | (10) | December 21, 2020 | Manufacturer and Distributor of Charitable Gaming Supplies | | | | | | | | | | | |
| | | | Secured Debt | (9) (23) | | 9.23% (L+7.98%, Floor 1.25%) | 12/21/2025 | | 9,000 | | 8,919 | | 9,000 |
| | | | | | | | | | | | | | |
ASC Ortho Management Company, LLC | (10) | August 31, 2018 | Provider of Orthopedic Services | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 8.50% (L+7.50%, Floor 1.00%) | 8/31/2023 | | 5,140 | | 5,092 | | 5,133 |
| | | | Secured Debt | (19) | | 13.25% PIK | 12/1/2023 | | 2,260 | | 2,239 | | 2,260 |
| | | | | | | | | | | | 7,331 | | 7,393 |
16
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2021
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20) | | Investment Date (24) | Business Description | Type of Investment (2) (3) (15) | | Shares/Units | Rate | Maturity Date | Principal (4) | Cost (4) | Fair Value (18) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ATX Networks Corp. | (11) (13) (21) | June 30, 2015 | Provider of Radio Frequency Management Equipment | | | | | | | | | | | |
| | | | Secured Debt | (9) (19) | | 8.75% (7.25% Cash, 1.50% PIK) (1.50% PIK + L+6.25%, Floor 1.00%) | 12/31/2023 | | 13,352 | | 13,350 | | 12,217 |
| | | | | | | | | | | | | | |
Berry Aviation, Inc. | (10) | July 6, 2018 | Charter Airline Services | | | | | | | | | | | |
| | | | Secured Debt | (19) | | 12.00% (10.50% Cash, 1.5% PIK) | 1/6/2024 | | 4,659 | | 4,634 | | 4,659 |
| | | | Preferred Member Units | (8) (19) (30) | 122,416 | 16.00% PIK | | | | | 156 | | 156 |
| | | | Preferred Member Units | (19) (30) | 1,548,387 | 8.00% PIK | | | | | 1,671 | | 1,777 |
| | | | | | | | | | | | 6,461 | | 6,592 |
BigName Commerce, LLC | (10) | May 11, 2017 | Provider of Envelopes and Complimentary Stationery Products | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 8.25% (L+7.25%, Floor 1.00%) | 5/11/2022 | | 1,946 | | 1,941 | | 1,946 |
| | | | | | | | | | | | | | |
Binswanger Enterprises, LLC | (10) | March 10, 2017 | Glass Repair and Installation Service Provider | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 9.00% (L+8.00%, Floor 1.00%) | 3/9/2022 | | 12,580 | | 12,488 | | 12,580 |
| | | | Member Units | | 1,050,000 | | | | | | 1,050 | | 730 |
| | | | | | | | | | | | 13,538 | | 13,310 |
Bluestem Brands, Inc. | (11) | December 19, 2013 | Multi-Channel Retailer of General Merchandise | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 10.00% (L+8.50%, Floor 1.50%) | 8/28/2025 | | 5,879 | | 5,879 | | 5,849 |
| | | | Common Stock | (8) | 723,184 | | | | | | 1 | | 940 |
| | | | | | | | | | | | 5,880 | | 6,789 |
Brainworks Software, LLC | (10) | August 12, 2014 | Advertising Sales and Newspaper Circulation Software | | | | | | | | | | | |
| | | | Secured Debt | (9) (14) (17) | | 12.50% (Prime+9.25%, Floor 3.25%) | 7/22/2019 | | 7,817 | | 7,817 | | 5,774 |
| | | | | | | | | | | | | | |
Brightwood Capital Fund Investments | (12) (13) | July 21, 2014 | Investment Partnership | | | | | | | | | | | |
| | | | LP Interests (Brightwood Capital Fund III, LP) | (8) (31) | 1.6% | | | | | | 8,040 | | 5,018 |
| | | | LP Interests (Brightwood Capital Fund IV, LP) | (8) (31) | 0.6% | | | | | | 4,350 | | 4,350 |
| | | | | | | | | | | | 12,390 | | 9,368 |
Burning Glass Intermediate Holding Company, Inc. | (10) | June 14, 2021 | Provider of Skills-Based Labor Market Analytics | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 6.00% (L+5.00%, Floor 1.00%) | 6/10/2028 | | 16,892 | | 16,517 | | 16,517 |
| | | | | | | | | | | | | | |
Cadence Aerospace LLC | (10) | November 14, 2017 | Aerostructure Manufacturing | | | | | | | | | | | |
| | | | Secured Debt | (9) (19) | | 9.50% (4.25% Cash, 5.25% PIK) (5.25% PIK + L+3.25%, Floor 1.00%) | 11/14/2023 | | 28,409 | | 28,225 | | 26,605 |
| | | | | | | | | | | | | | |
17
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2021
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20) | | Investment Date (24) | Business Description | Type of Investment (2) (3) (15) | | Shares/Units | Rate | Maturity Date | Principal (4) | Cost (4) | Fair Value (18) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
California Pizza Kitchen, Inc. | (11) | August 29, 2016 | Casual Restaurant Group | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 11.50% (L+10.00%, Floor 1.50%) | 11/23/2024 | | 7,700 | | 7,338 | | 7,713 |
| | | | Secured Debt | (9) (19) | | 13.50% (1.00% Cash, 12.50% PIK) (1.00% Cash, L+11.00% PIK, Floor 1.50%) | 11/23/2024 | | 2,858 | | 2,800 | | 2,901 |
| | | | Secured Debt | (9) (19) | | 15.00% (1.00% Cash, 14.00% PIK) (1.00% Cash, L+12.50% PIK, Floor 1.50%) | 5/23/2025 | | 2,455 | | 2,455 | | 2,486 |
| | | | | | | | | | | | 12,593 | | 13,100 |
Camin Cargo Control, Inc. | (11) | June 14, 2021 | Provider of Mission Critical Inspection, Testing and Fuel Treatment Services | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 7.50% (L+6.50%, Floor 1.00%) | 6/4/2026 | | 16,000 | | 15,840 | | 15,920 |
| | | | | | | | | | | | | | |
Central Security Group, Inc. | (11) | December 4, 2017 | Security Alarm Monitoring Service Provider | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 7.00% (L+6.00%, Floor 1.00%) | 10/16/2025 | | 6,857 | | 6,857 | | 6,411 |
| | | | Common Stock | | 329,084 | | | | | | 1,481 | | 740 |
| | | | | | | | | | | | 8,338 | | 7,151 |
Cenveo Corporation | (11) | September 4, 2015 | Provider of Digital Marketing Agency Services | | | | | | | | | | | |
| | | | Common Stock | | 322,907 | | | | | | 6,183 | | 2,301 |
| | | | | | | | | | | | | | |
Chisholm Energy Holdings, LLC | (10) | May 15, 2019 | Oil & Gas Exploration & Production | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 7.75% (L+6.25%, Floor 1.50%) | 5/15/2026 | | 2,857 | | 2,799 | | 2,658 |
| | | | | | | | | | | | | | |
Clarius BIGS, LLC | (10) | September 23, 2014 | Prints & Advertising Film Financing | | | | | | | | | | | |
| | | | Secured Debt | (14) (17) (19) | | 15.00% PIK | 1/5/2015 | | 2,803 | | 2,803 | | 1 |
| | | | | | | | | | | | | | |
Clickbooth.com, LLC | (10) | December 5, 2017 | Provider of Digital Advertising Performance Marketing Solutions | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 9.50% (L+8.50%, Floor 1.00%) | 1/31/2025 | | 7,750 | | 7,674 | | 7,750 |
| | | | | | | | | | | | | | |
Construction Supply Investments, LLC | (10) | December 29, 2016 | Distribution Platform of Specialty Construction Materials to Professional Concrete and Masonry Contractors | | | | | | | | | | | |
| | | | Member Units | (8) | 861,618 | | | | | | 3,335 | | 7,525 |
| | | | | | | | | | | | | | |
Copper Trail Fund Investments | (12) (13) | July 17, 2017 | Investment Partnership | | | | | | | | | | | |
| | | | LP Interests (CTEF I, LP) | | 375 | | | | | | - | | 103 |
| | | | | | | | | | | | | | |
Corel Corporation | (11) (13) (21) | July 24, 2019 | Publisher of Desktop and Cloud-based Software | | | | | | | | | | | |
| | | | Secured Debt | | | 5.14% (L+5.00%) | 7/2/2026 | | 23,041 | | 22,253 | | 23,085 |
| | | | | | | | | | | | | | |
18
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2021
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20) | | Investment Date (24) | Business Description | Type of Investment (2) (3) (15) | | Shares/Units | Rate | Maturity Date | Principal (4) | Cost (4) | Fair Value (18) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Darr Equipment LP | (10) | April 15, 2014 | Heavy Equipment Dealer | | | | | | | | | | | |
| | | | Secured Debt | (19) | | 12.50% (11.50% Cash, 1.00% PIK) | 6/22/2023 | | 5,989 | | 5,989 | | 5,989 |
| | | | Warrants | (29) | 915,734 | | 12/23/2023 | | | | 474 | | - |
| | | | | | | | | | | | 6,463 | | 5,989 |
DTE Enterprises, LLC | (10) | April 13, 2018 | Industrial Powertrain Repair and Services | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 10.00% (L+8.50%, Floor 1.50%) | 4/13/2023 | | 9,324 | | 9,236 | | 9,061 |
| | | | Class AA Preferred Member Units (non-voting) | (8) (19) | | 10.00% PIK | | | | | 999 | | 999 |
| | | | Class A Preferred Member Units | | 776,316 | | | | | | 776 | | 630 |
| | | | | | | | | | | | 11,011 | | 10,690 |
Dynamic Communities, LLC | (10) | July 17, 2018 | Developer of Business Events and Online Community Groups | | | | | | | | | | | |
| | | | Secured Debt | (9) (19) | | 12.50% (6.25% Cash, 6.25% PIK) (L+11.50%, Floor 1.00%) | 7/17/2023 | | 5,639 | | 5,584 | | 5,505 |
| | | | | | | | | | | | | | |
Eastern Wholesale Fence LLC | (10) | November 19, 2020 | Manufacturer and Distributor of Residential and Commercial Fencing Solutions | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 7.50%, (L+6.50%, Floor 1.00%) | 10/30/2025 | | 18,976 | | 18,626 | | 18,848 |
| | | | | | | | | | | | | | |
Echo US Holdings, LLC. | (10) | November 12, 2019 | Developer and Manufacturer of PVC and Polypropylene Materials | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 7.88% (L+6.25%, Floor 1.63%) | 10/25/2024 | | 20,616 | | 20,530 | | 20,616 |
| | | | | | | | | | | | | | |
Electronic Transaction Consultants, LLC | (10) | July 24, 2020 | Technology Service Provider for Toll Road and Infrastructure Operators | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 8.50% (L+7.50%, Floor 1.00%) | 7/24/2025 | | 10,000 | | 9,845 | | 9,993 |
| | | | | | | | | | | | | | |
EnCap Energy Fund Investments | (12) (13) | December 28, 2010 | Investment Partnership | | | | | | | | | | | |
| | | | LP Interests (EnCap Energy Capital Fund VIII, L.P.) | (8) (31) | 0.1% | | | | | | 3,745 | | 1,229 |
| | | | LP Interests (EnCap Energy Capital Fund VIII Co- | (31) | 0.4% | | | | | | 2,097 | | 651 |
| | | | LP Interests (EnCap Energy Capital Fund IX, L.P.) | (8) (31) | 0.1% | | | | | | 4,336 | | 1,928 |
| | | | LP Interests (EnCap Energy Capital Fund X, L.P.) | (8) (31) | 0.1% | | | | | | 8,878 | | 7,357 |
19
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2021
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20) | | Investment Date (24) | Business Description | Type of Investment (2) (3) (15) | | Shares/Units | Rate | Maturity Date | Principal (4) | Cost (4) | Fair Value (18) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | | | LP Interests (EnCap Flatrock Midstream Fund II, L.P.) | (8) (31) | 0.8% | | | | | | 6,712 | | 2,687 |
| | | | LP Interests (EnCap Flatrock Midstream Fund III, L.P.) | (8) (31) | 0.2% | | | | | | 6,953 | | 6,093 |
| | | | | | | | | | | | 32,721 | | 19,945 |
EPIC Y-Grade Services, LP | (11) | June 22, 2018 | NGL Transportation & Storage | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 7.00% (L+6.00%, Floor 1.00%) | 6/30/2027 | | 6,927 | | 6,845 | | 6,027 |
| | | | | | | | | | | | | | |
Flip Electronics LLC | (10) | January 4, 2021 | Distributor of Hard-to-Find and Obsolete Electronic Components | | | | | | | | | | | |
| | | | Secured Debt | (9) (33) | | 9.17% (L+8.09%, Floor 1.00%) | 1/2/2026 | | 5,400 | | 5,293 | | 5,293 |
| | | | | | | | | | | | | | |
Fortna Acquisition Co., Inc. | (10) | July 23, 2019 | Process, Physical Distribution and Logistics Consulting Services | | | | | | | | | | | |
| | | | Secured Debt | | | 5.10% (L+5.00%) | 4/8/2025 | | 7,654 | | 7,560 | | 7,577 |
| | | | | | | | | | | | | | |
Fuse, LLC | (11) | June 30, 2019 | Cable Networks Operator | | | | | | | | | | | |
| | | | Secured Debt | | | 12.00% | 6/28/2024 | | 1,810 | | 1,810 | | 1,672 |
| | | | Common Stock | | 10,429 | | | | | | 256 | | - |
| | | | | | | | | | | | 2,066 | | 1,672 |
GeoStabilization International (GSI) | (11) | December 31, 2018 | Geohazard Engineering Services & Maintenance | | | | | | | | | | | |
| | | | Secured Debt | | | 5.35% (L+5.25%) | 12/19/2025 | | 11,167 | | 11,087 | | 11,167 |
| | | | | | | | | | | | | | |
GoWireless Holdings, Inc. | (11) | December 31, 2017 | Provider of Wireless Telecommunications Carrier Services | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 7.50% (L+6.50%, Floor 1.00%) | 12/22/2024 | | 18,820 | | 18,710 | | 18,839 |
| | | | | | | | | | | | | | |
Grupo Hima San Pablo, Inc. | (11) | March 7, 2013 | Tertiary Care Hospitals | | | | | | | | | | | |
| | | | Secured Debt | (9) (14) (17) | | 9.25% (L+7.00%, Floor 1.50%) | 4/30/2019 | | 4,504 | | 4,504 | | 2,197 |
| | | | Secured Debt | (14) (17) | | 13.75% | 10/15/2018 | | 2,055 | | 2,040 | | 49 |
| | | | | | | | | | | | 6,544 | | 2,246 |
GS HVAM Intermediate, LLC | (10) | October 18, 2019 | Specialized Food Distributor | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 6.75% (L+5.75%, Floor 1.00%) | 10/2/2024 | | 11,224 | | 11,136 | | 11,224 |
| | | | | | | | | | | | | | |
GS Operating, LLC | (10) | February 24, 2020 | Distributor of Industrial and Specialty Parts | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 8.00% (L+6.50%, Floor 1.50%) | 2/24/2025 | | 25,666 | | 25,293 | | 25,666 |
| | | | | | | | | | | | | | |
HDC/HW Intermediate Holdings | (10) | December 21, 2018 | Managed Services and Hosting Provider | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 8.50% (L+7.50%, Floor 1.00%) | 12/21/2023 | | 3,457 | | 3,419 | | 3,207 |
| | | | | | | | | | | | | | |
Heartland Dental, LLC | (10) | September 9, 2020 | Dental Support Organization | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 7.50% (L+6.50%, Floor 1.00%) | 4/30/2025 | | 14,888 | | 14,507 | | 15,036 |
| | | | | | | | | | | | | | |
20
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2021
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20) | | Investment Date (24) | Business Description | Type of Investment (2) (3) (15) | | Shares/Units | Rate | Maturity Date | Principal (4) | Cost (4) | Fair Value (18) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Hunter Defense Technologies, Inc. | (10) | March 29, 2018 | Provider of Military and Commercial Shelters and Systems | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 7.00% (L+6.00%, Floor 1.00%) | 3/29/2023 | | 34,739 | | 34,407 | | 34,739 |
| | | | | | | | | | | | | | |
HW Temps LLC | | July 2, 2015 | Temporary Staffing Solutions | | | | | | | | | | | |
| | | | Secured Debt | | | 8.00% | 3/29/2023 | | 7,964 | | 7,901 | | 7,698 |
| | | | | | | | | | | | | | |
Hybrid Promotions, LLC | (10) | June 30, 2021 | Wholesaler of Licensed, Branded and Private Label Apparel | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 9.25% (L+8.25%, Floor 1.00%) | 6/30/2026 | | 7,088 | | 6,946 | | 6,946 |
| | | | | | | | | | | | | | |
Hyperion Materials & Technologies, Inc. | (11) (13) (21) | September 12, 2019 | Manufacturer of Cutting and Machine Tools & Specialty Polishing Compounds | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 6.50% (L+5.50%, Floor 1.00%) | 8/28/2026 | | 22,163 | | 21,810 | | 22,169 |
| | | | | | | | | | | | | | |
Ian, Evan & Alexander Corporation | (10) | July 31, 2020 | Cybersecurity, Software and Data Analytics provider to the Intelligence Community | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 9.50% (L+8.50%, Floor 1.00%) | 7/31/2025 | | 15,904 | | 15,575 | | 15,850 |
| | | | | | | | | | | | | | |
Implus Footcare, LLC | (10) | June 1, 2017 | Provider of Footwear and Related Accessories | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 8.75% (L+7.75%, Floor 1.00%) | 4/30/2024 | | 18,796 | | 18,519 | | 17,567 |
| | | | | | | | | | | | | | |
Independent Pet Partners Intermediate Holdings, LLC | (10) | November 20, 2018 | Omnichannel Retailer of Specialty Pet Products | | | | | | | | | | | |
| | | | Secured Debt | (19) | | 6.20% PIK (L+6.00% PIK) | 12/22/2022 | | 6,433 | | 6,433 | | 6,433 |
| | | | Secured Debt | (19) | | 6.00% PIK | 11/20/2023 | | 17,356 | | 16,046 | | 16,046 |
| | | | Preferred Stock (non-voting) | | | | | | | | 3,235 | | 3,420 |
| | | | Preferred Stock (non-voting) | | | | | | | | - | | - |
| | | | Member Units | | 1,558,333 | | | | | | 1,558 | | - |
| | | | | | | | | | | | 27,272 | | 25,899 |
Industrial Services Acquisition, LLC | (10) | June 17, 2016 | Industrial Cleaning Services | | | | | | | | | | | |
| | | | Unsecured Debt | (19) | | 12.00% (11.25% Cash, 0.75% PIK) | 12/17/2022 | | 5,824 | | 5,790 | | 5,824 |
| | | | Preferred Member Units | (8) (19) (30) | 144 | 10.00% PIK | | | | | 116 | | 149 |
| | | | Preferred Member Units | (8) (19) (30) | 80 | 20.00% PIK | | | | | 76 | | 88 |
| | | | Member Units | (30) | 900 | | | | | | 900 | | 690 |
| | | | | | | | | | | | 6,882 | | 6,751 |
Inn of the Mountain Gods Resort and Casino | (11) | October 30, 2013 | Hotel & Casino Owner & Operator | | | | | | | | | | | |
| | | | Secured Debt | | | 9.25% | 11/30/2023 | | 6,677 | | 6,677 | | 6,460 |
| | | | | | | | | | | | | | |
Interface Security Systems, L.L.C | (10) | August 7, 2019 | Commercial Security & Alarm Services | | | | | | | | | | | |
| | | | Secured Debt | (9) (19) | | 9.75% (8.75% Cash, 1.00% PIK) (1.00% PIK + L+7.00%, Floor 1.75%) | 8/7/2023 | | 7,294 | | 7,206 | | 7,294 |
21
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2021
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20) | | Investment Date (24) | Business Description | Type of Investment (2) (3) (15) | | Shares/Units | Rate | Maturity Date | Principal (4) | Cost (4) | Fair Value (18) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | | | | | | | | | | | | | |
Intermedia Holdings, Inc. | (11) | August 3, 2018 | Unified Communications as a Service | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 7.00% (L+6.00%, Floor 1.00%) | 7/19/2025 | | 20,733 | | 20,657 | | 20,733 |
| | | | | | | | | | | | | | |
Invincible Boat Company, LLC. | (10) | August 28, 2019 | Manufacturer of Sport Fishing Boats | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 8.00% (L+6.50%, Floor 1.50%) | 8/28/2025 | | 18,598 | | 18,424 | | 18,598 |
| | | | | | | | | | | | | | |
INW Manufacturing, LLC | (11) | May 19, 2021 | Manufacturer of Nutrition and Wellness Products | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 6.50% (L+5.75%, Floor 0.75%) | 3/25/2027 | | 7,454 | | 7,232 | | 7,304 |
| | | | | | | | | | | | | | |
Isagenix International, LLC | (11) | June 21, 2018 | Direct Marketer of Health & Wellness Products | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 6.75% (L+5.75%, Floor 1.00%) | 6/14/2025 | | 5,365 | | 5,338 | | 4,404 |
| | | | | | | | | | | | | | |
Jackmont Hospitality, Inc. | (10) | May 26, 2015 | Franchisee of Casual Dining Restaurants | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 7.75% (L+6.75%, Floor 1.00%) | 7/30/2021 | | 3,928 | | 3,928 | | 3,219 |
| | | | | | | | | | | | | | |
Joerns Healthcare, LLC | (11) | April 3, 2013 | Manufacturer and Distributor of Health Care Equipment & Supplies | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 7.00% (L+6.00%, Floor 1.00%) | 8/21/2024 | | 4,016 | | 3,963 | | 3,744 |
| | | | Common Stock | | 472,579 | | | | | | 4,429 | | 1,625 |
| | | | | | | | | | | | 8,392 | | 5,369 |
Kemp Technologies Inc. | (10) | June 27, 2019 | Provider of Application Delivery Controllers | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 7.00% (L+6.00%, Floor 1.00%) | 3/29/2024 | | 16,306 | | 16,062 | | 16,306 |
| | | | Common Stock | | 903,225 | | | | | | 1,395 | | 1,905 |
| | | | | | | | | | | | 17,457 | | 18,211 |
Klein Hersh, LLC | (10) | November 13, 2020 | Executive and C-Suite Placement for the Life Sciences and Healthcare Industries | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 8.75% (L+8.00%, Floor 0.75%) | 11/13/2025 | | 32,094 | | 31,341 | | 32,045 |
| | | | | | | | | | | | | | |
Kore Wireless Group Inc. | (11) | December 31, 2018 | Mission Critical Software Platform | | | | | | | | | | | |
| | | | Secured Debt | | | 5.65% (L+5.50%) | 12/20/2024 | | 18,993 | | 18,915 | | 18,993 |
| | | | | | | | | | | | | | |
Larchmont Resources, LLC | (11) | August 13, 2013 | Oil & Gas Exploration & Production | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 9.00% (L+8.00%, Floor 1.00%) | 8/9/2021 | | 2,231 | | 2,231 | | 1,004 |
| | | | Member Units | (30) | 2,828 | | | | | | 353 | | 113 |
| | | | | | | | | | | | 2,584 | | 1,117 |
Laredo Energy VI, LP | (10) | January 15, 2019 | Oil & Gas Exploration & Production | | | | | | | | | | | |
| | | | Member Units | | 1,155,952 | | | | | | 11,560 | | 9,771 |
| | | | | | | | | | | | | | |
Lightbox Holdings, L.P. | (11) | May 23, 2019 | Provider of Commercial Real Estate Software | | | | | | | | | | | |
| | | | Secured Debt | | | 5.15% (L+5.00%) | 5/9/2026 | | 14,700 | | 14,522 | | 14,626 |
22
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2021
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20) | | Investment Date (24) | Business Description | Type of Investment (2) (3) (15) | | Shares/Units | Rate | Maturity Date | Principal (4) | Cost (4) | Fair Value (18) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | | | | | | | | | | | | | |
LKCM Headwater Investments I, L.P. | (12) (13) | January 25, 2013 | Investment Partnership | | | | | | | | | | | |
| | | | LP Interests | (31) | 2.3% | | | | | | 1,746 | | 3,302 |
| | | | | | | | | | | | | | |
LL Management, Inc. | (10) | May 2, 2019 | Medical Transportation Service Provider | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 8.25% (L+7.25%, Floor 1.00%) | 9/25/2023 | | 17,525 | | 17,364 | | 17,525 |
| | | | | | | | | | | | | | |
Logix Acquisition Company, LLC | (10) | June 24, 2016 | Competitive Local Exchange Carrier | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 6.75% (L+5.75%, Floor 1.00%) | 12/22/2024 | | 25,991 | | 24,572 | | 24,821 |
| | | | | | | | | | | | | | |
Looking Glass Investments, LLC | (12) (13) | July 1, 2015 | Specialty Consumer Finance | | | | | | | | | | | |
| | | | Member Units | | 3 | | | | | | 125 | | 25 |
| | | | | | | | | | | | | | |
Lulu's Fashion Lounge, LLC | (10) | August 31, 2017 | Fast Fashion E-Commerce Retailer | | | | | | | | | | | |
| | | | Secured Debt | (9) (19) | | 10.50% (8.00% Cash, 2.50% PIK) (2.50% PIK + L+7.00%, Floor 1.00%) | 8/28/2022 | | 10,837 | | 10,719 | | 9,266 |
| | | | | | | | | | | | | | |
Lynx FBO Operating LLC | (10) | September 30, 2019 | Fixed Based Operator in the General Aviation Industry | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 7.25% (L+5.75%, Floor 1.50%) | 9/30/2024 | | 14,055 | | 13,841 | | 14,055 |
| | | | Member Units | | 4,872 | | | | | | 687 | | 780 |
| | | | | | | | | | | | 14,528 | | 14,835 |
Mac Lean-Fogg Company | (10) | April 22, 2019 | Manufacturer and Supplier for Auto and Power Markets | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 5.38% (L+4.75%, Floor 0.625%) | 12/22/2025 | | 17,123 | | 17,030 | | 17,123 |
| | | | Preferred Stock | (19) | | 13.75% (4.50% Cash, 9.25% PIK) | | | | | 1,881 | | 1,881 |
| | | | | | | | | | | | 18,911 | | 19,004 |
Mako Steel, LP | (10) | March 15, 2021 | Self-Storage Design & Construction | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 8.00% (L+7.25%, Floor 0.75%) | 3/13/2026 | | 17,522 | | 17,170 | | 17,170 |
| | | | | | | | | | | | | | |
MB2 Dental Solutions, LLC | (11) | January 28, 2021 | Dental Partnership Organization | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 7.00% (L+6.00%, Floor 1.00%) | 1/29/2027 | | 8,673 | | 8,520 | | 8,520 |
| | | | | | | | | | | | | | |
Mills Fleet Farm Group, LLC | (10) | October 24, 2018 | Omnichannel Retailer of Work, Farm and Lifestyle Merchandise | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 7.00% (L+6.00%, Floor 1.00%) | 10/24/2024 | | 15,088 | | 14,850 | | 15,082 |
| | | | | | | | | | | | | | |
NBG Acquisition Inc | (11) | April 28, 2017 | Wholesaler of Home Décor Products | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 6.50% (L+5.50%, Floor 1.00%) | 4/26/2024 | | 4,042 | | 4,011 | | 3,681 |
| | | | | | | | | | | | | | |
NinjaTrader, LLC | (10) | December 18, 2019 | Operator of Futures Trading Platform | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 8.25% (L+6.75%, Floor 1.50%) | 12/18/2024 | | 16,875 | | 16,576 | | 16,849 |
| | | | | | | | | | | | | | |
23
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2021
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20) | | Investment Date (24) | Business Description | Type of Investment (2) (3) (15) | | Shares/Units | Rate | Maturity Date | Principal (4) | Cost (4) | Fair Value (18) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
NNE Partners, LLC | (10) | March 2, 2017 | Oil & Gas Exploration & Production | | | | | | | | | | | |
| | | | Secured Debt | (19) | | 9.38% (4.88% Cash, 4.50% PIK) (4.50% PIK + L+4.75%) | 12/31/2023 | | 24,219 | | 24,127 | | 22,432 |
| | | | | | | | | | | | | | |
Novetta Solutions, LLC | (11) | June 21, 2017 | Provider of Advanced Analytics Solutions for Defense Agencies | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 6.00% (L+5.00%, Floor 1.00%) | 10/17/2022 | | 22,791 | | 22,583 | | 22,819 |
| | | | Secured Debt | (9) | | 9.50% (L+8.50%, Floor 1.00%) | 10/16/2023 | | 880 | | 880 | | 882 |
| | | | | | | | | | | | 23,463 | | 23,701 |
NTM Acquisition Corp. | (11) | July 12, 2016 | Provider of B2B Travel Information Content | | | | | | | | | | | |
| | | | Secured Debt | (9) (19) | | 8.25% (7.25% Cash, 1.00% PIK) (1.00%PIK + L+6.25%, Floor 1.00%) | 6/7/2024 | | 4,682 | | 4,682 | | 4,565 |
| | | | | | | | | | | | | | |
NWN Corporation | (10) | May 7, 2021 | Value Added Reseller and Provider of Managed Services to a Diverse Set of Industries | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 7.50% (L+6.50%, Floor 1.00%) | 5/7/2026 | | 41,242 | | 40,249 | | 40,249 |
| | | | | | | | | | | | | | |
Ospemifene Royalty Sub LLC | (10) | July 8, 2013 | Estrogen-Deficiency Drug Manufacturer and Distributor | | | | | | | | | | | |
| | | | Secured Debt | (14) | | 11.50% | 11/15/2026 | | 4,714 | | 4,714 | | 135 |
| | | | | | | | | | | | | | |
PaySimple, Inc. | (10) | September 9, 2019 | Leading Technology Services Commerce Platform | | | | | | | | | | | |
| | | | Secured Debt | | | 5.61% (L+5.50%) | 8/23/2025 | | 27,740 | | 27,525 | | 27,601 |
| | | | | | | | | | | | | | |
Project Eagle Holdings, LLC | (10) | July 6, 2020 | Provider of Secure Business Collaboration Software | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 9.25% (L+8.25%, Floor 1.00%) | 7/6/2026 | | 14,888 | | 14,536 | | 14,861 |
| | | | | | | | | | | | | | |
PT Network, LLC | (10) | November 1, 2013 | Provider of Outpatient Physical Therapy and Sports Medicine Services | | | | | | | | | | | |
| | | | Secured Debt | (9) (19) | | 8.50% (6.50% Cash, 2.00% PIK) (2.00% PIK + L+5.50%, Floor 1.00%) | 11/30/2023 | | 8,645 | | 8,645 | | 8,645 |
| | | | | | | | | | | | | | |
RA Outdoors LLC | (10) | April 8, 2021 | Software Solutions Provider for Outdoor Activity Management | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 7.75% (L+6.75%, Floor 1.00%) | 4/8/2026 | | 19,422 | | 19,224 | | 19,224 |
| | | | | | | | | | | | | | |
Research Now Group, Inc. and Survey Sampling International, LLC | (11) | December 31, 2017 | Provider of Outsourced Online Surveying | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 6.50% (L+5.50%, Floor 1.00%) | 12/20/2024 | | 20,229 | | 19,843 | | 20,043 |
| | | | | | | | | | | | | | |
24
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2021
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20) | | Investment Date (24) | Business Description | Type of Investment (2) (3) (15) | | Shares/Units | Rate | Maturity Date | Principal (4) | Cost (4) | Fair Value (18) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
RM Bidder, LLC | (10) | November 12, 2015 | Scripted and Unscripted TV and Digital Programming Provider | | | | | | | | | | | |
| | | | Member Units | | 2,779 | | | | | | 46 | | 34 |
| | | | Warrants | (26) | 187,161 | | 10/20/2025 | | | | 425 | | - |
| | | | | | | | | | | | 471 | | 34 |
RTIC Subsidiary Holdings, LLC | (10) | September 1, 2020 | Direct-To-Consumer eCommerce Provider of Outdoor Products | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 9.00% (L+7.75%, Floor 1.25%) | 9/1/2025 | | 17,729 | | 17,510 | | 17,700 |
| | | | | | | | | | | | | | |
Rug Doctor, LLC. | (10) | June 30, 2021 | Carpet Cleaning Products and Machinery | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 6.25% (L+5.25%, Floor 1.00%) | 5/16/2022 | | 9,850 | | 9,850 | | 9,850 |
| | | | | | | | | | | | | | |
SAFETY Investment Holdings, LLC | | April 29, 2016 | Provider of Intelligent Driver Record Monitoring Software and Services | | | | | | | | | | | |
| | | | Member Units | | 2,000,000 | | | | | | 2,000 | | 3,000 |
| | | | | | | | | | | | | | |
Salient Partners L.P. | (11) | June 25, 2015 | Provider of Asset Management Services | | | | | | | | | | | |
| | | | Secured Debt | (9) (14) | | 7.00% (L+6.00%, Floor 1.00%) | 8/31/2021 | | 6,251 | | 6,246 | | 2,607 |
| | | | | | | | | | | | | | |
Savers, Inc. | (11) | May 14, 2021 | For-Profit Thrift Retailer | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 6.50% (L+5.75%, Floor 0.75%) | 4/26/2028 | | 12,900 | | 12,773 | | 13,051 |
| | | | | | | | | | | | | | |
Staples Canada ULC | (10) (13) (21) | September 14, 2017 | Office Supplies Retailer | | | | | | | | | | | |
| | | | Secured Debt | (9) (22) | | 8.00% (L+7.00%, Floor 1.00%) | 9/12/2024 | | 17,411 | | 17,305 | | 17,282 |
| | | | | | | | | | | | | | |
Student Resource Center, LLC | (10) | June 25, 2021 | Higher Education Services | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 9.00% (L+8.00%, Floor 1.00%) | 6/25/2026 | | 11,250 | | 11,011 | | 11,011 |
| | | | | | | | | | | | | | |
Team Public Choices, LLC | (11) | October 28, 2019 | Home-Based Care Employment Service Provider | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 6.00% (L+5.00%, Floor 1.00%) | 12/18/2027 | | 13,466 | | 13,107 | | 13,399 |
| | | | | | | | | | | | | | |
Tectonic Financial, LLC | | May 15, 2017 | Financial Services Organization | | | | | | | | | | | |
| | | | Common Stock | (8) | 200,000 | | | | | | 2,000 | | 3,430 |
| | | | | | | | | | | | | | |
The Pasha Group | (11) | February 2, 2018 | Diversified Logistics and Transportation Provided | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 9.00% (L+8.00%, Floor 1.00%) | 1/26/2023 | | 10,169 | | 9,761 | | 10,093 |
| | | | | | | | | | | | | | |
Time Manufacturing Acquisition LLC | (11) | February 24, 2021 | Manufacturer and Distributor of Utility Equipment | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 6.00% (L+5.00%, Floor 1.00%) | 2/3/2023 | | 1,476 | | 1,473 | | 1,481 |
| | | | | | | | | | | | | | |
25
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2021
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20) | | Investment Date (24) | Business Description | Type of Investment (2) (3) (15) | | Shares/Units | Rate | Maturity Date | Principal (4) | Cost (4) | Fair Value (18) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
U.S. TelePacific Corp. | (11) | May 17, 2017 | Provider of Communications and Managed Services | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 7.00% (L+6.00%, Floor 1.00%) | 5/2/2023 | | 17,088 | | 16,948 | | 15,807 |
| | | | | | | | | | | | | | |
USA DeBusk LLC | (10) | October 22, 2019 | Provider of Industrial Cleaning Services | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 6.75% (L+5.75%, Floor 1.00%) | 10/22/2024 | | 24,822 | | 24,485 | | 24,822 |
| | | | | | | | | | | | | | |
Veregy Consolidated, Inc. | (11) | November 9, 2020 | Energy Service Company | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 7.00% (L+6.00%, Floor 1.00%) | 11/3/2027 | | 14,925 | | 14,536 | | 15,037 |
| | | | | | | | | | | | | | |
Vida Capital, Inc | (11) | October 10, 2019 | Alternative Asset Manager | | | | | | | | | | | |
| | | | Secured Debt | | | 6.10% (L+6.00%) | 10/1/2026 | | 17,344 | | 17,138 | | 16,737 |
| | | | | | | | | | | | | | |
Vistar Media, Inc. | (10) | February 17, 2017 | Operator of Digital Out-of-Home Advertising Platform | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 12.00% (L+10.00%, Floor 2.00%) | 4/3/2023 | | 4,622 | | 4,523 | | 4,622 |
| | | | Preferred Stock | | 70,207 | | | | | | 767 | | 1,280 |
| | | | Warrants | (25) | 69,675 | | 4/3/2029 | | | | - | | 1,290 |
| | | | | | | | | | | | 5,290 | | 7,192 |
YS Garments, LLC | (11) | August 22, 2018 | Designer and Provider of Branded Activewear | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 7.00% (L+6.00%, Floor 1.00%) | 8/9/2024 | | 13,128 | | 13,049 | | 12,586 |
| | | | | | | | | | | | | | |
Zilliant Incorporated | | June 15, 2012 | Price Optimization and Margin Management Solutions | | | | | | | | | | | |
| | | | Preferred Stock | | 186,777 | | | | | | 154 | | 260 |
| | | | Warrants | (28) | 952,500 | | 6/15/2022 | | | | 1,071 | | 1,190 |
| | | | | | | | | | | | 1,225 | | 1,450 |
Short-term portfolio investments | (34) (35) | | | | | | | | | | | | | |
| | | | | | | | | | | | 57,244 | | 57,285 |
| | | | | | | | | | | | | | |
Subtotal Non-Control/Non-Affiliate Investments (85.7% of net assets at fair value) | | | | | | | | | | | $ | 1,421,592 | $ | 1,375,001 |
Total Portfolio Investments, June 30, 2021 (185.2% of net assets at fair value) | | | | | | | | | | | $ | 2,725,485 | $ | 2,972,270 |
(1) | All investments are Lower Middle Market portfolio investments, unless otherwise noted. See Note C for a description of Lower Middle Market portfolio investments. All of the Company’s investments, unless otherwise noted, are encumbered either as security for the Company’s Credit Facility or in support of the SBA-guaranteed debentures issued by the Funds. |
(2) | Debt investments are income producing, unless otherwise noted. Equity and warrants are non-income producing, unless otherwise noted. |
(3) | See Note C and Schedule 12-14 for a summary of geographic location of portfolio companies. |
(4) | Principal is net of repayments. Cost is net of repayments and accumulated unearned income. |
(5) | Control investments are defined by the 1940 Act, as investments in which more than 25% of the voting securities are owned or where the ability to nominate greater than 50% of the board representation is maintained. |
(6) | Affiliate investments are defined by the 1940 Act as investments in which between 5% and 25% (inclusive) of the voting securities are owned and the investments are not classified as Control investments. |
26
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2021
(dollars in thousands)
(Unaudited)
(7) | Non-Control/Non-Affiliate investments are defined by the 1940 Act as investments that are neither Control investments nor Affiliate investments. |
(8) | Income producing through dividends or distributions. |
(9) | Index based floating interest rate is subject to contractual minimum interest rate. A majority of the variable rate loans in the Company’s investment portfolio bear interest at a rate that may be determined by reference to either LIBOR or an alternate Base Rate (commonly based on the Federal Funds Rate or the Prime Rate), which typically resets semi-annually, quarterly, or monthly at the borrower’s option. The borrower may also elect to have multiple interest reset periods for each loan. For each such loan, the Company has provided the weighted average annual stated interest rate in effect at June 30, 2021. As noted in this schedule, 70% of the loans (based on the par amount) contain LIBOR floors which range between 0.50% and 2.00%, with a weighted-average LIBOR floor of approximately 1.09%. |
(10) | Private Loan portfolio investment. See Note C for a description of Private Loan portfolio investments. |
(11) | Middle Market portfolio investment. See Note C for a description of Middle Market portfolio investments. |
(12) | Other Portfolio investment. See Note C for a description of Other Portfolio investments. |
(13) | Investment is not a qualifying asset as defined under Section 55(a) of the 1940 Act. Qualifying assets must represent at least 70% of total assets at the time of acquisition of any additional non-qualifying assets. |
(14) | Non-accrual and non-income producing investment. |
(15) | All of the Company’s portfolio investments are generally subject to restrictions on resale as “restricted securities.” |
(16) | External Investment Manager. Investment is not encumbered as security for the Company's Credit Facility or in support of the SBA-guaranteed debentures issued by the Funds. |
(17) | Maturity date is under on-going negotiations with the portfolio company and other lenders, if applicable. |
(18) | Investment fair value was determined using significant unobservable inputs, unless otherwise noted. See Note C for further discussion. |
(19) | PIK interest income and cumulative dividend income represent income not paid currently in cash. |
(20) | All portfolio company headquarters are based in the United States, unless otherwise noted. |
(21) | Portfolio company headquarters are located outside of the United States. |
(22) | In connection with the Company's debt investment in Staples Canada ULC and in an attempt to mitigate any potential adverse change in foreign exchange rates during the term of the Company's investment, the Company maintains a forward foreign currency contract with Cadence Bank to lend $21.4 million Canadian Dollars and receive $16.4 million U.S. Dollars with a settlement date of September 14, 2021. The unrealized depreciation on the forward foreign currency contract is $1.0 million as of June 30, 2021. |
(23) | The Company has entered into an intercreditor agreement that entitles the Company to the "last out" tranche of the first lien secured loans, whereby the "first out" tranche will receive priority as to the "last out" tranche with respect to payments of principal, interest, and any other amounts due thereunder. Therefore, the Company receives a higher interest rate than the contractual stated interest rate of LIBOR plus 7.25% (Floor 1.25%) per the credit agreement and the Consolidated Schedule of Investments above reflects such higher rate. |
(24) | Investment date represents the date of initial investment in the portfolio company. |
(25) | Warrants are presented in equivalent shares with a strike price of $10.92 per share. |
(26) | Warrants are presented in equivalent units with a strike price of $14.28 per unit. |
(27) | Warrants are presented in equivalent shares/units with a strike price of $0.01 per share/unit. |
(28) | Warrants are presented in equivalent shares with a strike price of $0.001 per share. |
(29) | Warrants are presented in equivalent units with a strike price of $1.50 per unit. |
(30) | Shares/Units represent ownership in an underlying Real Estate or HoldCo entity. |
(31) | Investment is not unitized. Presentation is made in percent of fully diluted ownership unless otherwise indicated. |
(32) | Portfolio company is in a bankruptcy process and, as such, the maturity date of our debt investment in this portfolio company will not be finally determined until such process is complete. As noted in footnote (14), our debt investment in this portfolio company is on non-accrual status. |
27
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2021
(dollars in thousands)
(Unaudited)
(33) | The Company has entered into an intercreditor agreement that entitles the Company to the "last out" tranche of the first lien secured loans, whereby the "first out" tranche will receive priority as to the "last out" tranche with respect to payments of principal, interest, and any other amounts due thereunder. Therefore, the Company receives a higher interest rate than the contractual stated interest rate of LIBOR plus 7.50% (Floor 1.00%) per the credit agreement and the Consolidated Schedule of Investments above reflects such higher rate. |
(34) | Short-term portfolio investments. See Note C for a description of short-term portfolio investments. |
(35) | Short-term portfolio investments bear interest at index based floating interest rates which range from LIBOR plus 2.75% to LIBOR plus 4.75%, with LIBOR floors which range from 0% to 0.75% (with a weighted average LIBOR floor of approximately 0.14%), and with resulting interest rates which range from of 2.83% to 4.83% as of June 30, 2021. |
28
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments
December 31, 2020
(dollars in thousands)
Portfolio Company (1) (20) | | Investment Date (24) | Business Description | Type of Investment (2) (3) (15) | | Shares/Units | Rate | Maturity Date | Principal (4) | Cost (4) | Fair Value (18) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | | | | | | | | | | | | | |
Control Investments (5) | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
ASC Interests, LLC | | August 1, 2013 | Recreational and Educational Shooting Facility | | | | | | | | | | | |
| | | | Secured Debt | | | 13.00% | 7/31/2022 | $ | 1,750 | $ | 1,715 | $ | 1,715 |
| | | | Member Units | | 1,500 | | | | | | 1,500 | | 1,120 |
| | | | | | | | | | | | 3,215 | | 2,835 |
| | | | | | | | | | | | | | |
Analytical Systems Keco, LLC | | August 16, 2019 | Manufacturer of Liquid and Gas Analyzers | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 12.00% (L+10.00%, Floor 2.00%) | 8/16/2024 | | 5,155 | | 4,874 | | 4,874 |
| | | | Preferred Member Units | | 3,200 | | | | | | 3,200 | | 3,200 |
| | | | Warrants | (27) | 420 | | 8/16/2029 | | | | 316 | | 10 |
| | | | | | | | | | | | 8,390 | | 8,084 |
| | | | | | | | | | | | | | |
ATS Workholding, LLC | (10) | March 10, 2014 | Manufacturer of Machine Cutting Tools and Accessories | | | | | | | | | | | |
| | | | Secured Debt | (14) | | 5.00% | 11/16/2021 | | 4,982 | | 4,824 | | 3,347 |
| | | | Preferred Member Units | | 3,725,862 | | | | | | 3,726 | | - |
| | | | | | | | | | | | 8,550 | | 3,347 |
| | | | | | | | | | | | | | |
Project BarFly, LLC | (10) | August 31, 2015 | Casual Restaurant Group | | | | | | | | | | | |
| | | | Secured Debt | | | 7.00% | 10/31/2024 | | 343 | | 343 | | 343 |
| | | | Member Units | | 37 | | | | | | 1,584 | | 1,584 |
| | | | | | | | | | | | 1,927 | | 1,927 |
| | | | | | | | | | | | | | |
Bolder Panther Group, LLC | | December 31, 2020 | Consumer Goods and Fuel Retailer | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 10.50% (L+9.00%, Floor 1.50%) | 12/31/2025 | | 27,500 | | 27,225 | | 27,225 |
| | | | Class A Preferred Member Units | (30) | | 14.00% | | | | | 10,194 | | 10,194 |
| | | | Class B Preferred Member Units | (30) | 140,000 | 8.00% | | | | | 14,000 | | 14,000 |
| | | | | | | | | | | | 51,419 | | 51,419 |
| | | | | | | | | | | | | | |
Bond-Coat, Inc. | | December 28, 2012 | Casing and Tubing Coating Services | | | | | | | | | | | |
| | | | Common Stock | | 57,508 | | | | | | 6,350 | | 2,040 |
| | | | | | | | | | | | | | |
Brewer Crane Holdings, LLC | | January 9, 2018 | Provider of Crane Rental and Operating Services | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 11.00% (L+10.00%, Floor 1.00%) | 1/9/2023 | | 8,556 | | 8,513 | | 8,513 |
| | | | Preferred Member Units | (8) | 2,950 | | | | | | 4,280 | | 5,850 |
| | | | | | | | | | | | 12,793 | | 14,363 |
| | | | | | | | | | | | | | |
Bridge Capital Solutions Corporation | | April 18, 2012 | Financial Services and Cash Flow Solutions Provider | | | | | | | | | | | |
| | | | Secured Debt | | | 13.00% | 12/11/2024 | | 8,813 | | 8,403 | | 8,403 |
| | | | Warrants | (27) | 82 | | 7/25/2026 | | | | 2,132 | | 3,220 |
| | | | Secured Debt | (30) | | 13.00% | 12/11/2024 | | 1,000 | | 998 | | 998 |
| | | | Preferred Member Units | (8) (30) | 17,742 | | | | | | 1,000 | | 1,000 |
| | | | | | | | | | | | 12,533 | | 13,621 |
| | | | | | | | | | | | | | |
29
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2020
(dollars in thousands)
Portfolio Company (1) (20) | | Investment Date (24) | Business Description | Type of Investment (2) (3) (15) | | Shares/Units | Rate | Maturity Date | Principal (4) | Cost (4) | Fair Value (18) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Café Brazil, LLC | | April 20, 2004 | Casual Restaurant Group | | | | | | | | | | | |
| | | | Member Units | (8) | 1,233 | | | | | | 1,742 | | 2,030 |
| | | | | | | | | | | | | | |
California Splendor Holdings LLC | | March 30, 2018 | Processor of Frozen Fruits | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 9.00% (L+8.00%, Floor 1.00%) | 3/30/2023 | | 8,100 | | 8,014 | | 8,043 |
| | | | Secured Debt | (9) | | 11.00% (L+10.00%, Floor 1.00%) | 3/30/2023 | | 28,000 | | 27,854 | | 27,789 |
| | | | Preferred Member Units | (8) | 6,725 | | | | | | 8,255 | | 8,255 |
| | | | Preferred Member Units | (8) | 6,157 | | | | | | 10,775 | | 6,241 |
| | | | | | | | | | | | 54,898 | | 50,328 |
| | | | | | | | | | | | | | |
CBT Nuggets, LLC | | June 1, 2006 | Produces and Sells IT Training Certification Videos | | | | | | | | | | | |
| | | | Member Units | (8) | 416 | | | | | | 1,300 | | 46,080 |
| | | | | | | | | | | | | | |
Centre Technologies Holdings, LLC | | January 4, 2019 | Provider of IT Hardware Services and Software Solutions | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 12.00% (L+10.00%, Floor 2.00%) | 1/4/2024 | | 11,628 | | 11,549 | | 11,549 |
| | | | Preferred Member Units | | 12,696 | | | | | | 5,840 | | 6,160 |
| | | | | | | | | | | | 17,389 | | 17,709 |
| | | | | | | | | | | | | | |
Chamberlin Holding LLC | | February 26, 2018 | Roofing and Waterproofing Specialty Contractor | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 9.00% (L+8.00%, Floor 1.00%) | 2/26/2023 | | 15,212 | | 15,136 | | 15,212 |
| | | | Member Units | (8) | 4,347 | | | | | | 11,440 | | 28,070 |
| | | | Member Units | (8) (30) | 1,047,146 | | | | | | 1,322 | | 1,270 |
| | | | | | | | | | | | 27,898 | | 44,552 |
| | | | | | | | | | | | | | |
Charps, LLC | | February 3, 2017 | Pipeline Maintenance and Construction | | | | | | | | | | | |
| | | | Unsecured Debt | (19) | | 10.00% (8.67% Cash, 1.33% PIK) | 1/31/2024 | | 9,388 | | 7,641 | | 8,475 |
| | | | Secured Debt | | | 15.00% | 6/5/2022 | | 669 | | 669 | | 669 |
| | | | Preferred Member Units | (8) | 1,600 | | | | | | 400 | | 10,520 |
| | | | | | | | | | | | 8,710 | | 19,664 |
| | | | | | | | | | | | | | |
Clad-Rex Steel, LLC | | December 20, 2016 | Specialty Manufacturer of Vinyl-Clad Metal | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 10.50% (L+9.50%, Floor 1.00%) | 12/20/2021 | | 10,880 | | 10,853 | | 10,853 |
| | | | Member Units | (8) | 717 | | | | | | 7,280 | | 8,610 |
| | | | Secured Debt | (30) | | 10.00% | 12/20/2036 | | 1,111 | | 1,100 | | 1,100 |
| | | | Member Units | (30) | 800 | | | | | | 210 | | 530 |
| | | | | | | | | | | | 19,443 | | 21,093 |
| | | | | | | | | | | | | | |
CMS Minerals Investments | | January 30, 2015 | Oil & Gas Exploration & Production | | | | | | | | | | | |
| | | | Member Units | (30) | 100 | | | | | | 2,179 | | 1,624 |
| | | | | | | | | | | | | | |
30
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2020
(dollars in thousands)
Portfolio Company (1) (20) | | Investment Date (24) | Business Description | Type of Investment (2) (3) (15) | | Shares/Units | Rate | Maturity Date | Principal (4) | Cost (4) | Fair Value (18) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cody Pools, Inc. | | March 6, 2020 | Designer of Residential and Commercial Pools | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 12.25% (L+10.50%, Floor 1.75%) | 3/6/2025 | | 14,216 | | 14,092 | | 14,216 |
| | | | Preferred Member Units | | 587 | | | | | | 8,317 | | 14,940 |
| | | | | | | | | | | | 22,409 | | 29,156 |
| | | | | | | | | | | | | | |
CompareNetworks Topco, LLC | | January 29, 2019 | Internet Publishing and Web Search Portals | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 12.00% (L+11.00%, Floor 1.00%) | 1/29/2024 | | 7,954 | | 7,910 | | 7,953 |
| | | | Preferred Member Units | (8) | 1,975 | | | | | | 1,975 | | 6,780 |
| | | | | | | | | | | | 9,885 | | 14,733 |
| | | | | | | | | | | | | | |
Copper Trail Fund Investments | (12) (13) | July 17, 2017 | Investment Partnership | | | | | | | | | | | |
| | | | LP Interests (CTMH, LP) | (31) | 38.8% | | | | | | 747 | | 747 |
| | | | | | | | | | | | | | |
Datacom, LLC | | May 30, 2014 | Technology and Telecommunications Provider | | | | | | | | | | | |
| | | | Secured Debt | (14) | | 8.00% | 5/31/2021 | | 1,800 | | 1,800 | | 1,615 |
| | | | Secured Debt | (14) (19) | | 10.50% PIK | 5/31/2021 | | 12,507 | | 12,475 | | 10,531 |
| | | | Class A Preferred Member Units | | - | | | | | | 1,294 | | - |
| | | | Class B Preferred Member Units | | 6,453 | | | | | | 6,030 | | - |
| | | | | | | | | | | | 21,599 | | 12,146 |
| | | | | | | | | | | | | | |
Digital Products Holdings LLC | | April 1, 2018 | Designer and Distributor of Consumer Electronics | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 11.00% (L+10.00%, Floor 1.00%) | 4/1/2023 | | 18,173 | | 18,077 | | 18,077 |
| | | | Preferred Member Units | (8) | 3,857 | | | | | | 9,501 | | 9,835 |
| | | | | | | | | | | | 27,578 | | 27,912 |
| | | | | | | | | | | | | | |
Direct Marketing Solutions, Inc. | | February 13, 2018 | Provider of Omni-Channel Direct Marketing Services | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 12.00% (L+11.00%, Floor 1.00%) | 2/13/2023 | | 15,090 | | 15,007 | | 15,007 |
| | | | Preferred Stock | | 8,400 | | | | | | 8,400 | | 19,380 |
| | | | | | | | | | | | 23,407 | | 34,387 |
| | | | | | | | | | | | | | |
Gamber-Johnson Holdings, LLC ("GJH") | | June 24, 2016 | Manufacturer of Ruggedized Computer Mounting Systems | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 9.00% (L+7.00%, Floor 2.00%) | 6/24/2021 | | 19,838 | | 19,807 | | 19,838 |
| | | | Member Units | (8) | 8,619 | | | | | | 14,844 | | 52,490 |
| | | | | | | | | | | | 34,651 | | 72,328 |
| | | | | | | | | | | | | | |
Garreco, LLC | | July 15, 2013 | Manufacturer and Supplier of Dental Products | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 9.00% (L+8.00%, Floor 1.00%, Ceiling 1.50%) | 1/31/2021 | | 4,519 | | 4,519 | | 4,519 |
| | | | Member Units | | 1,200 | | | | | | 1,200 | | 1,410 |
| | | | | | | | | | | | 5,719 | | 5,929 |
31
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2020
(dollars in thousands)
Portfolio Company (1) (20) | | Investment Date (24) | Business Description | Type of Investment (2) (3) (15) | | Shares/Units | Rate | Maturity Date | Principal (4) | Cost (4) | Fair Value (18) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | | | | | | | | | | | | | |
GRT Rubber Technologies LLC ("GRT") | | December 19, 2014 | Manufacturer of Engineered Rubber Products | | | | | | | | | | | |
| | | | Secured Debt | | | 7.15% (L+7.00%) | 12/31/2023 | | 16,775 | | 16,775 | | 16,775 |
| | | | Member Units | (8) | 5,879 | | | | | | 13,065 | | 44,900 |
| | | | | | | | | | | | 29,840 | | 61,675 |
| | | | | | | | | | | | | | |
Gulf Manufacturing, LLC | | August 31, 2007 | Manufacturer of Specialty Fabricated Industrial Piping Products | | | | | | | | | | | |
| | | | Member Units | (8) | 438 | | | | | | 2,980 | | 4,510 |
| | | | | | | | | | | | | | |
Gulf Publishing Holdings, LLC | | April 29, 2016 | Energy Industry Focused Media and Publishing | | | | | | | | | | | |
| | | | Secured Debt | (9) (17) (19) | | 10.50% (5.25% Cash, 5.25% PIK) (L+9.50%, Floor 1.00%) | 9/30/2020 | | 250 | | 250 | | 250 |
| | | | Secured Debt | (19) | | 12.50% (6.25% Cash, 6.25% PIK) | 4/29/2021 | | 13,147 | | 13,135 | | 12,044 |
| | | | Member Units | | 3,681 | | | | | | 3,681 | | - |
| | | | | | | | | | | | 17,066 | | 12,294 |
| | | | | | | | | | | | | | |
Harris Preston Fund Investments | (12) (13) | October 1, 2017 | Investment Partnership | | | | | | | | | | | |
| | | | LP Interests (2717 MH, L.P.) | (31) | 49.3% | | | | | | 2,599 | | 2,702 |
| | | | LP Interests (2717 HPP-MS, L.P.) | (31) | 49.3% | | | | | | 250 | | 250 |
| | | | | | | | | | | | 2,849 | | 2,952 |
| | | | | | | | | | | | | | |
Harrison Hydra-Gen, Ltd. | | June 4, 2010 | Manufacturer of Hydraulic Generators | | | | | | | | | | | |
| | | | Common Stock | (8) | 107,456 | | | | | | 718 | | 5,450 |
| | | | | | | | | | | | | | |
Jensen Jewelers of Idaho, LLC | | November 14, 2006 | Retail Jewelry Store | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 10.00% (Prime+6.75%, Floor 2.00%) | 11/14/2023 | | 3,400 | | 3,374 | | 3,400 |
| | | | Member Units | (8) | 627 | | | | | | 811 | | 7,620 |
| | | | | | | | | | | | 4,185 | | 11,020 |
| | | | | | | | | | | | | | |
J&J Services, Inc. | | October 31, 2019 | Provider of Dumpster and Portable Toilet Rental Services | | | | | | | | | | | |
| | | | Secured Debt | | | 11.50% | 10/31/2024 | | 12,800 | | 12,697 | | 12,800 |
| | | | Preferred Stock | | 2,814 | | | | | | 7,085 | | 12,680 |
| | | | | | | | | | | | 19,782 | | 25,480 |
| | | | | | | | | | | | | | |
KBK Industries, LLC | | January 23, 2006 | Manufacturer of Specialty Oilfield and Industrial Products | | | | | | | | | | | |
| | | | Member Units | (8) | 325 | | | | | | 783 | | 13,200 |
| | | | | | | | | | | | | | |
Kickhaefer Manufacturing Company, LLC | | October 31, 2018 | Precision Metal Parts Manufacturing | | | | | | | | | | | |
| | | | Secured Debt | | | 11.50% | 10/31/2023 | | 22,415 | | 22,269 | | 22,269 |
| | | | Member Units | | 581 | | | | | | 12,240 | | 12,240 |
| | | | Secured Debt | | | 9.00% | 10/31/2048 | | 3,948 | | 3,909 | | 3,909 |
| | | | Member Units | (8) (30) | 800 | | | | | | 992 | | 1,160 |
| | | | | | | | | | | | 39,410 | | 39,578 |
| | | | | | | | | | | | | | |
32
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2020
(dollars in thousands)
Portfolio Company (1) (20) | | Investment Date (24) | Business Description | Type of Investment (2) (3) (15) | | Shares/Units | Rate | Maturity Date | Principal (4) | Cost (4) | Fair Value (18) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Force Information, LLC | | July 28, 2017 | Provider of Customer Experience Management Services | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 12.00% (L+11.00%, Floor 1.00%) | 7/28/2023 | | 1,600 | | 1,600 | | 1,600 |
| | | | Secured Debt | (14) (19) | | 12.00% PIK | 7/28/2023 | | 26,079 | | 25,952 | | 13,562 |
| | | | Member Units | | 743,921 | | | | | | 16,642 | | - |
| | | | | | | | | | | | 44,194 | | 15,162 |
| | | | | | | | | | | | | | |
MH Corbin Holding LLC | | August 31, 2015 | Manufacturer and Distributor of Traffic Safety Products | | | | | | | | | | | |
| | | | Secured Debt | (19) | | 13.00% (10.00% Cash, 3.00% PIK) | 3/31/2022 | | 8,570 | | 8,527 | | 8,280 |
| | | | Preferred Member Units | | 66,000 | | | | | | 4,400 | | 2,370 |
| | | | Preferred Member Units | | 4,000 | | | | | | 6,000 | | - |
| | | | | | | | | | | | 18,927 | | 10,650 |
| | | | | | | | | | | | | | |
MSC Adviser I, LLC | (16) | November 22, 2013 | Third Party Investment | | | | | | | | | | | |
| | | | Member Units | (8) (31) | | | | | | | 29,500 | | 116,760 |
| | | | | | | | | | | | | | |
Mystic Logistics Holdings, LLC | | August 18, 2014 | Logistics and Distribution Services Provider for Large Volume Mailers | | | | | | | | | | | |
| | | | Secured Debt | | | 12.00% | 1/17/2022 | | 6,733 | | 6,723 | | 6,723 |
| | | | Common Stock | (8) | 5,873 | | | | | | 2,720 | | 8,990 |
| | | | | | | | | | | | 9,443 | | 15,713 |
| | | | | | | | | | | | | | |
NAPCO Precast, LLC | | January 31, 2008 | Precast Concrete Manufacturing | | | | | | | | | | | |
| | | | Member Units | (8) | 2,955 | | | | | | 2,975 | | 16,100 |
| | | | | | | | | | | | | | |
Nebraska Vet AcquireCo, LLC (NVS) | | December 31, 2020 | Mixed-Animal Veterinary and Animal Health Product Provider | | | | | | | | | | | |
| | | | Secured Debt | | | 12.00% | 12/31/2025 | | 10,500 | | 10,395 | | 10,395 |
| | | | Preferred Member Units | | 6,500 | | | | | | 6,500 | | 6,500 |
| | | | | | | | | | | | 16,895 | | 16,895 |
| | | | | | | | | | | | | | |
NexRev LLC | | February 28, 2018 | Provider of Energy Efficiency Products & Services | | | | | | | | | | | |
| | | | Secured Debt | | | 11.00% | 2/28/2023 | | 17,097 | | 17,016 | | 16,726 |
| | | | Preferred Member Units | (8) | 86,400,000 | | | | | | 6,880 | | 1,470 |
| | | | | | | | | | | | 23,896 | | 18,196 |
| | | | | | | | | | | | | | |
NRI Clinical Research, LLC | | September 8, 2011 | Clinical Research Service Provider | | | | | | | | | | | |
| | | | Secured Debt | | | 9.00% | 6/8/2022 | | 5,620 | | 5,572 | | 5,620 |
| | | | Warrants | (27) | 251,723 | | 6/8/2027 | | | | 252 | | 1,490 |
| | | | Member Units | (8) | 1,454,167 | | | | | | 765 | | 5,600 |
| | | | | | | | | | | | 6,589 | | 12,710 |
| | | | | | | | | | | | | | |
NRP Jones, LLC | | December 22, 2011 | Manufacturer of Hoses, Fittings and Assemblies | | | | | | | | | | | |
| | | | Secured Debt | | | 12.00% | 3/20/2023 | | 2,080 | | 2,080 | | 2,080 |
| | | | Member Units | (8) | 65,962 | | | | | | 3,717 | | 2,821 |
| | | | | | | | | | | | 5,797 | | 4,901 |
| | | | | | | | | | | | | | |
33
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2020
(dollars in thousands)
Portfolio Company (1) (20) | | Investment Date (24) | Business Description | Type of Investment (2) (3) (15) | | Shares/Units | Rate | Maturity Date | Principal (4) | Cost (4) | Fair Value (18) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
NuStep, LLC | | January 31, 2017 | Designer, Manufacturer and Distributor of Fitness Equipment | | | | | | | | | | | |
| | | | Secured Debt | | | 12.00% | 1/31/2022 | | 17,240 | | 17,193 | | 17,193 |
| | | | Preferred Member Units | | 406 | | | | | | 10,200 | | 10,780 |
| | | | | | | | | | | | 27,393 | | 27,973 |
| | | | | | | | | | | | | | |
OMi Holdings, Inc. | | April 1, 2008 | Manufacturer of Overhead Cranes | | | | | | | | | | | |
| | | | Common Stock | (8) | 1,500 | | | | | | 1,080 | | 20,380 |
| | | | | | | | | | | | | | |
Pearl Meyer Topco LLC | | April 27, 2020 | Provider of Executive Compensation Consulting Services | | | | | | | | | | | |
| | | | Secured Debt | | | 12.00% | 4/27/2025 | | 37,513 | | 37,202 | | 37,202 |
| | | | Member Units | (8) | 13,800 | | | | | | 13,000 | | 15,940 |
| | | | | | | | | | | | 50,202 | | 53,142 |
| | | | | | | | | | | | | | |
Pegasus Research Group, LLC | | January 6, 2011 | Provider of Telemarketing and Data Services | | | | | | | | | | | |
| | | | Member Units | (8) | 460 | | | | | | 1,290 | | 8,830 |
| | | | | | | | | | | | | | |
PPL RVs, Inc. | | June 10, 2010 | Recreational Vehicle Dealer | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 7.50% (L+7.00%, Floor 0.50%) | 11/15/2022 | | 11,855 | | 11,781 | | 11,806 |
| | | | Common Stock | (8) | 2,000 | | | | | | 2,150 | | 11,500 |
| | | | | | | | | | | | 13,931 | | 23,306 |
| | | | | | | | | | | | | | |
Principle Environmental, LLC (d/b/a TruHorizon Environmental Solutions) | | February 1, 2011 | Noise Abatement Service Provider | | | | | | | | | | | |
| | | | Secured Debt | | | 13.00% | 4/30/2023 | | 6,397 | | 6,335 | | 6,397 |
| | | | Preferred Member Units | (8) | 19,631 | | | | | | 4,600 | | 10,500 |
| | | | Warrants | (27) | 1,018 | | 1/31/2021 | | | | 1,200 | | 870 |
| | | | | | | | | | | | 12,135 | | 17,767 |
| | | | | | | | | | | | | | |
Quality Lease Service, LLC | | June 8, 2015 | Provider of Rigsite Accommodation Unit Rentals and Related Services | | | | | | | | | | | |
| | | | Member Units | | 1,000 | | | | | | 11,063 | | 4,460 |
| | | | | | | | | | | | | | |
River Aggregates, LLC | | March 30, 2011 | Processor of Construction Aggregates | | | | | | | | | | | |
| | | | Member Units | (30) | 1,500 | | | | | | 369 | | 3,240 |
| | | | | | | | | | | | | | |
Tedder Industries, LLC | | August 31, 2018 | Manufacturer of Firearm Holsters and Accessories | | | | | | | | | | | |
| | | | Secured Debt | | | 12.00% | 8/31/2023 | | 16,400 | | 16,301 | | 16,301 |
| | | | Preferred Member Units | | 479 | | | | | | 8,136 | | 8,136 |
| | | | | | | | | | | | 24,437 | | 24,437 |
| | | | | | | | | | | | | | |
Trantech Radiator Topco, LLC | | May 31, 2019 | Transformer Cooling Products and Services | | | | | | | | | | | |
| | | | Secured Debt | | | 12.00% | 5/31/2024 | | 8,720 | | 8,644 | | 8,644 |
| | | | Common Stock | (8) | 615 | | | | | | 4,655 | | 6,030 |
| | | | | | | | | | | | 13,299 | | 14,674 |
| | | | | | | | | | | | | | |
UnionRock Energy Fund II, LP | (12) (13) | June 15, 2020 | Oil & Gas Exploration & Production | | | | | | | | | | | |
| | | | LP Interests | (31) | 49.6% | | | | | | 2,894 | | 2,894 |
| | | | | | | | | | | | | | |
34
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2020
(dollars in thousands)
Portfolio Company (1) (20) | | Investment Date (24) | Business Description | Type of Investment (2) (3) (15) | | Shares/Units | Rate | Maturity Date | Principal (4) | Cost (4) | Fair Value (18) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Vision Interests, Inc. | | June 5, 2007 | Manufacturer / Installer of Commercial Signage | | | | | | | | | | | |
| | | | Secured Debt | (17) | | 13.00% | 9/30/2019 | | 2,028 | | 2,028 | | 2,028 |
| | | | Series A Preferred Stock | | 3,000,000 | | | | | | 3,000 | | 3,160 |
| | | | | | | | | | | | 5,028 | | 5,188 |
| | | | | | | | | | | | | | |
Ziegler's NYPD, LLC | | October 1, 2008 | Casual Restaurant Group | | | | | | | | | | | |
| | | | Secured Debt | | | 6.50% | 10/1/2022 | | 1,000 | | 1,000 | | 979 |
| | | | Secured Debt | | | 12.00% | 10/1/2022 | | 625 | | 625 | | 625 |
| | | | Secured Debt | | | 14.00% | 10/1/2022 | | 2,750 | | 2,750 | | 2,750 |
| | | | Warrants | (27) | 587 | | 10/1/2025 | | | | 600 | | - |
| | | | Preferred Member Units | | 10,072 | | | | | | 2,834 | | 1,780 |
| | | | | | | | | | | | 7,809 | | 6,134 |
| | | | | | | | | | | | | | |
Subtotal Control Investments (73.5% of net assets at fair value) | | | | | | | | | | | $ | 831,490 | $ | 1,113,725 |
35
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2020
(dollars in thousands)
Portfolio Company (1) (20) | | Investment Date (24) | Business Description | Type of Investment (2) (3) (15) | | Shares/Units | Rate | Maturity Date | Principal (4) | Cost (4) | Fair Value (18) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | | | | | | | | | | | | | |
Affiliate Investments (6) | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
AAC Holdings, Inc. | (11) | June 30, 2017 | Substance Abuse Treatment Service Provider | | | | | | | | | | | |
| | | | Secured Debt | (19) | | 18.00% (10.00% Cash, 8.00% PIK) | 6/25/2025 | | 9,406 | | 9,187 | | 9,187 |
| | | | Common Stock | | 593,928 | | | | | | 3,148 | | 3,148 |
| | | | Warrants | (27) | 554,353 | | 12/11/2025 | | | | - | | 2,938 |
| | | | | | | | | | | | 12,335 | | 15,273 |
| | | | | | | | | | | | | | |
AFG Capital Group, LLC | | November 7, 2014 | Provider of Rent-to-Own Financing Solutions and Services | | | | | | | | | | | |
| | | | Secured Debt | | | 10.00% | 5/25/2022 | | 491 | | 491 | | 491 |
| | | | Preferred Member Units | | 186 | | | | | | 1,200 | | 5,810 |
| | | | | | | | | | | | 1,691 | | 6,301 |
| | | | | | | | | | | | | | |
American Trailer Rental Group LLC | | June 7, 2017 | Provider of Short-term Trailer and Container Rental | | | | | | | | | | | |
| | | | Member Units | (30) | 73,493 | | | | | | 8,596 | | 16,010 |
| | | | | | | | | | | | | | |
BBB Tank Services, LLC | | April 8, 2016 | Maintenance, Repair and Construction Services to the Above-Ground Storage Tank Market | | | | | | | | | | | |
| | | | Unsecured Debt | (9) | | 12.00% (L+11.00%, Floor 1.00%) | 4/8/2021 | | 4,800 | | 4,773 | | 4,722 |
| | | | Preferred Stock (non-voting) | (8) (19) | | 15.00% PIK | | | | | 151 | | 151 |
| | | | Member Units | | 800,000 | | | | | | 800 | | 280 |
| | | | | | | | | | | | 5,724 | | 5,153 |
| | | | | | | | | | | | | | |
Boccella Precast Products LLC | | June 30, 2017 | Manufacturer of Precast Hollow Core Concrete | | | | | | | | | | | |
| | | | Member Units | (8) | 2,160,000 | | | | | | 2,256 | | 6,040 |
| | | | | | | | | | | | | | |
Buca C, LLC | | June 30, 2015 | Casual Restaurant Group | | | | | | | | | | | |
| | | | Secured Debt | (9) (17) | | 10.25% (L+9.25%, Floor 1.00%) | 6/30/2020 | | 19,004 | | 19,004 | | 14,256 |
| | | | Preferred Member Units | (8) (19) | 6 | 6.00% PIK | | | | | 4,770 | | - |
| | | | | | | | | | | | 23,774 | | 14,256 |
| | | | | | | | | | | | | | |
CAI Software LLC | | October 10, 2014 | Provider of Specialized Enterprise Resource Planning Software | | | | | | | | | | | |
| | | | Secured Debt | | | 12.50% | 12/7/2023 | | 47,474 | | 47,133 | | 47,474 |
| | | | Member Units | (8) | 77,960 | | | | | | 2,095 | | 7,190 |
| | | | | | | | | | | | 49,228 | | 54,664 |
| | | | | | | | | | | | | | |
Chandler Signs Holdings, LLC | (10) | January 4, 2016 | Sign Manufacturer | | | | | | | | | | | |
| | | | Class A Units | | 1,500,000 | | | | | | 1,500 | | 1,460 |
| | | | | | | | | | | | | | |
Charlotte Russe, Inc | (11) | May 28, 2013 | Fast-Fashion Retailer to Young Women | | | | | | | | | | | |
| | | | Common Stock | | 19,041 | | | | | | 3,141 | | - |
| | | | | | | | | | | | | | |
Classic H&G Holdings, LLC | | March 12, 2020 | Provider of Engineered Packaging Solutions | | | | | | | | | | | |
| | | | Secured Debt | | | 12.00% | 3/12/2025 | | 24,800 | | 24,583 | | 24,800 |
| | | | Preferred Member Units | (8) | 154 | | | | | | 5,760 | | 9,510 |
| | | | | | | | | | | | 30,343 | | 34,310 |
| | | | | | | | | | | | | | |
36
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2020
(dollars in thousands)
Portfolio Company (1) (20) | | Investment Date (24) | Business Description | Type of Investment (2) (3) (15) | | Shares/Units | Rate | Maturity Date | Principal (4) | Cost (4) | Fair Value (18) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Congruent Credit Opportunities Funds | (12) (13) | January 24, 2012 | Investment Partnership | | | | | | | | | | | |
| | | | LP Interests (Congruent Credit Opportunities Fund | (31) | 19.8% | | | | | | 4,449 | | 94 |
| | | | LP Interests (Congruent Credit Opportunities Fund | (8) (31) | 17.4% | | | | | | 11,741 | | 11,540 |
| | | | | | | | | | | | 16,190 | | 11,634 |
| | | | | | | | | | | | | | |
Copper Trail Fund Investments | (12) (13) | July 17, 2017 | Investment Partnership | | | | | | | | | | | |
| | | | LP Interests (Copper Trail Energy Fund I, LP) | (8) (31) | 12.4% | | | | | | 2,161 | | 1,782 |
| | | | | | | | | | | | | | |
Dos Rios Partners | (12) (13) | April 25, 2013 | Investment Partnership | | | | | | | | | | | |
| | | | LP Interests (Dos Rios Partners, LP) | (31) | 20.2% | | | | | | 6,605 | | 5,417 |
| | | | LP Interests (Dos Rios Partners - A, LP) | (31) | 6.4% | | | | | | 2,097 | | 1,720 |
| | | | | | | | | | | | 8,702 | | 7,137 |
| | | | | | | | | | | | | | |
East Teak Fine Hardwoods, Inc. | | April 13, 2006 | Distributor of Hardwood Products | | | | | | | | | | | |
| | | | Common Stock | | 6,250 | | | | | | 480 | | 300 |
| | | | | | | | | | | | | | |
EIG Fund Investments | (12) (13) | November 6, 2015 | Investment Partnership | | | | | | | | | | | |
| | | | LP Interests (EIG Global Private Debt Fund-A, L.P.) | (8) (31) | 11.1% | | | | | | 739 | | 526 |
| | | | | | | | | | | | | | |
Freeport Financial Funds | (12) (13) | June 13, 2013 | Investment Partnership | | | | | | | | | | | |
| | | | LP Interests (Freeport Financial SBIC Fund LP) | (31) | 9.3% | | | | | | 5,974 | | 5,264 |
| | | | LP Interests (Freeport First Lien Loan Fund III LP) | (8) (31) | 6.0% | | | | | | 10,785 | | 10,321 |
| | | | | | | | | | | | 16,759 | | 15,585 |
| | | | | | | | | | | | | | |
Harris Preston Fund Investments | (12) (13) | August 9, 2017 | Investment Partnership | | | | | | | | | | | |
| | | | LP Interests (HPEP 3, L.P.) | (31) | 8.2% | | | | | | 3,071 | | 3,258 |
| | | | | | | | | | | | | | |
Hawk Ridge Systems, LLC | (13) | December 2, 2016 | Value-Added Reseller of Engineering Design and Manufacturing Solutions | | | | | | | | | | | |
| | | | Secured Debt | | | 11.00% | 12/2/2023 | | 18,400 | | 18,366 | | 18,400 |
| | | | Preferred Member Units | (8) | 226 | | | | | | 2,850 | | 8,030 |
| | | | Preferred Member Units | (30) | 226 | | | | | | 150 | | 420 |
| | | | | | | | | | | | 21,366 | | 26,850 |
| | | | | | | | | | | | | | |
37
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2020
(dollars in thousands)
Portfolio Company (1) (20) | | Investment Date (24) | Business Description | Type of Investment (2) (3) (15) | | Shares/Units | Rate | Maturity Date | Principal (4) | Cost (4) | Fair Value (18) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Houston Plating and Coatings, LLC | | January 8, 2003 | Provider of Plating and Industrial Coating Services | | | | | | | | | | | |
| | | | Unsecured Convertible Debt | | | 8.00% | 5/1/2022 | | 3,000 | | 3,000 | | 2,900 |
| | | | Member Units | (8) | 322,297 | | | | | | 2,352 | | 5,080 |
| | | | | | | | | | | | 5,352 | | 7,980 |
| | | | | | | | | | | | | | |
I-45 SLF LLC | (12) (13) | October 20, 2015 | Investment Partnership | | | | | | | | | | | |
| | | | Member Units (Fully diluted 20.0%; 24.40% profits | (8) (31) | 20.00% Fully Diluted, 24.40% Profits Interest | | | | | | 20,200 | | 15,789 |
| | | | | | | | | | | | | | |
L.F. Manufacturing Holdings, LLC | (10) | December 23, 2013 | Manufacturer of Fiberglass Products | | | | | | | | | | | |
| | | | Preferred Member Units (non-voting) | (8) (19) | | 14.00% PIK | | | | | 93 | | 93 |
| | | | Member Units | | 2,179,001 | | | | | | 2,019 | | 2,050 |
| | | | | | | | | | | | 2,112 | | 2,143 |
| | | | | | | | | | | | | | |
OnAsset Intelligence, Inc. | | April 18, 2011 | Provider of Transportation Monitoring / Tracking Products and Services | | | | | | | | | | | |
| | | | Secured Debt | (19) | | 12.00% PIK | 6/30/2021 | | 7,301 | | 7,301 | | 7,301 |
| | | | Unsecured Debt | (19) | | 10.00% PIK | 6/30/2021 | | 64 | | 64 | | 64 |
| | | | Preferred Stock | | 912 | | | | | | 1,981 | | - |
| | | | Warrants | (27) | 5,333 | | 4/18/2021 | | | | 1,919 | | - |
| | | | | | | | | | | | 11,265 | | 7,365 |
| | | | | | | | | | | | | | |
PCI Holding Company, Inc. | | December 18, 2012 | Manufacturer of Industrial Gas Generating Systems | | | | | | | | | | | |
| | | | Preferred Stock | | 1,500,000 | | | | | | 3,927 | | 4,130 |
| | | | | | | | | | | | | | |
Rocaceia, LLC (Quality Lease and Rental Holdings, LLC) | | January 8, 2013 | Provider of Rigsite Accommodation Unit Rentals and Related Services | | | | | | | | | | | |
| | | | Secured Debt | (14) (32) | | 12.00% | 1/8/2018 | | 30,369 | | 29,865 | | - |
| | | | Preferred Member Units | | 250 | | | | | | 2,500 | | - |
| | | | | | | | | | | | 32,365 | | - |
| | | | | | | | | | | | | | |
Salado Stone Holdings, LLC | (10) | June 27, 2016 | Limestone and Sandstone Dimension Cut Stone Mining Quarries | | | | | | | | | | | |
| | | | Class A Preferred Units | (30) | 2,000,000 | | | | | | 2,000 | | 1,250 |
| | | | | | | | | | | | | | |
Slick Innovations, LLC | | September 13, 2018 | Text Message Marketing Platform | | | | | | | | | | | |
| | | | Secured Debt | | | 13.00% | 9/13/2023 | | 5,720 | | 5,605 | | 5,719 |
| | | | Common Stock | | 70,000 | | | | | | 700 | | 1,330 |
| | | | Warrants | (27) | 18,084 | | 9/13/2028 | | | | 181 | | 360 |
| | | | | | | | | | | | 6,486 | | 7,409 |
| | | | | | | | | | | | | | |
SI East, LLC | | August 31, 2018 | Rigid Industrial Packaging Manufacturing | | | | | | | | | | | |
| | | | Secured Debt | | | 9.50% | 8/31/2023 | | 32,963 | | 32,760 | | 32,962 |
| | | | Preferred Member Units | (8) | 157 | | | | | | 6,000 | | 9,780 |
| | | | | | | | | | | | 38,760 | | 42,742 |
| | | | | | | | | | | | | | |
Superior Rigging & Erecting Co. | | August 31, 2020 | Provider of Steel Erection, Crane Rental & Rigging Services | | | | | | | | | | | |
| | | | Secured Debt | | | 12.00% | 8/31/2025 | | 21,500 | | 21,298 | | 21,298 |
| | | | Preferred Member Units | | 1,473 | | | | | | 4,500 | | 4,500 |
| | | | | | | | | | | | 25,798 | | 25,798 |
| | | | | | | | | | | | | | |
38
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2020
(dollars in thousands)
Portfolio Company (1) (20) | | Investment Date (24) | Business Description | Type of Investment (2) (3) (15) | | Shares/Units | Rate | Maturity Date | Principal (4) | Cost (4) | Fair Value (18) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
UniTek Global Services, Inc. | (11) | April 15, 2011 | Provider of Outsourced Infrastructure Services | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 7.50% (L+6.50% Floor 1.00%) | 8/20/2024 | | 2,708 | | 2,687 | | 2,426 |
| | | | Preferred Stock | (8) (19) | 1,133,102 | 20.00% PIK | | | | | 1,441 | | 2,832 |
| | | | Preferred Stock | (8) (19) | 1,521,122 | 20.00% PIK | | | | | 2,188 | | 375 |
| | | | Preferred Stock | (19) | 2,281,682 | 19.00% PIK | | | | | 3,667 | | - |
| | | | Preferred Stock | (19) | 4,336,866 | 13.50% PIK | | | | | 7,924 | | - |
| | | | Common Stock | | 945,507 | | | | | | - | | - |
| | | | | | | | | | | | 17,907 | | 5,633 |
| | | | | | | | | | | | | | |
Universal Wellhead Services Holdings, LLC | (10) | October 30, 2014 | Provider of Wellhead Equipment, Designs, and Personnel to the Oil & Gas Industry | | | | | | | | | | | |
| | | | Preferred Member Units | (19) (30) | 716,949 | 14.00% PIK | | | | | 1,032 | | - |
| | | | Member Units | (30) | 4,000,000 | | | | | | 4,000 | | - |
| | | | | | | | | | | | 5,032 | | - |
| | | | | | | | | | | | | | |
Volusion, LLC | | January 26, 2015 | Provider of Online Software-as-a-Service eCommerce Solutions | | | | | | | | | | | |
| | | | Secured Debt | (17) | | 11.50% | 1/26/2020 | | 20,234 | | 20,234 | | 19,242 |
| | | | Unsecured Convertible Debt | | | 8.00% | 11/16/2023 | | 409 | | 409 | | 291 |
| | | | Preferred Member Units | | 4,876,670 | | | | | | 14,000 | | 5,990 |
| | | | Warrants | (27) | 1,831,355 | | 1/26/2025 | | | | 2,576 | | - |
| | | | | | | | | | | | 37,219 | | 25,523 |
| | | | | | | | | | | | | | |
Subtotal Affiliate Investments (24.2% of net assets at fair value) | | | | | | | | | | | $ | 416,479 | $ | 366,301 |
39
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2020
(dollars in thousands)
Portfolio Company (1) (20) | | Investment Date (24) | Business Description | Type of Investment (2) (3) (15) | | Shares/Units | Rate | Maturity Date | Principal (4) | Cost (4) | Fair Value (18) | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | | | | | | | | | | | | | |
Non-Control/Non-Affiliate Investments (7) | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Acousti Engineering Company of Florida, Inc. | (10) | November 2, 2020 | Interior Subcontractor Providing Acoustical Walls and Ceilings | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 10.00% (L+8.50%, Floor 1.50%) | 10/31/2025 | | 13,000 | | 12,858 | | 12,858 |
| | | | | | | | | | | | | | |
Adams Publishing Group, LLC | (10) | November 19, 2015 | Local Newspaper Operator | | | | | | | | | | | |
| | | | Secured Debt | (9) | | 8.75% (L+7.00%, Floor 1.75%) | 7/3/2023 | | 5,863 | | 5,745 | | 5,813 |
| | | | | | | | | | | | | | |