Main Street Capital Prices Public Offering of Common Stock

HOUSTON, May 28 /PRNewswire-FirstCall/ -- Main Street Capital Corporation (Nasdaq: MAIN) ("Main Street") announced today that it has priced a public offering of 1,250,000 shares of its common stock in an underwritten public offering. Pricing was set at $12.10 per share, and net proceeds from the offering, after deducting underwriting discounts and estimated expenses payable by Main Street, are expected to be approximately $14.1 million. Main Street has also granted the underwriters an option, exercisable for 30 days, to purchase up to 187,500 additional shares of common stock to cover over-allotments, if any. Main Street intends to use the net proceeds from this offering to make investments in lower middle market companies in accordance with its investment objective and strategies, pay operating expenses and dividends to our stockholders, and for general corporate purposes. Pending the use of net proceeds from the offering for these purposes, Main Street may temporarily invest the net proceeds in certain idle funds investments, including secured intermediate term bank debt and high quality debt investments.

The underwriters of this offering are BB&T Capital Markets, a division of Scott and Stringfellow, LLC, Morgan Keegan & Company, Inc., SMH Capital, Inc., Janney Montgomery Scott LLC, and Ladenburg Thalmann & Co. Inc. The shares will be sold pursuant to an effective shelf registration statement on Form N-2 that has been filed with and has been declared effective by the U.S. Securities and Exchange Commission. The offering is subject to customary closing conditions and is expected to close on June 2, 2009.

Investors should carefully consider, among other things, Main Street's investment objective and strategies and the risks related to Main Street and the offering before investing. The final prospectus supplement dated May 28, 2009, including the base prospectus dated May 1, 2009, contains risk factors and other information about Main Street. The offering may be made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained from BB&T Capital Markets, a division of Scott and Stringfellow, LLC at 909 E. Main Street, Richmond, Virginia, 23219.

This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the shares referred to in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.

ABOUT MAIN STREET CAPITAL CORPORATION

Main Street (www.mainstcapital.com) is a principal investment firm that provides long-term debt and equity capital to lower middle market companies. Main Street's investments are made to support management buyouts, recapitalizations, growth financings and acquisitions of companies that operate in diverse industry sectors and generally have annual revenues ranging from $10 million to $100 million. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides "one stop" financing alternatives to its portfolio companies.

Forward-Looking Statements

This press release may contain forward-looking statements. Words such as "expects", "expected", "believes", and "future" or similar expressions are intended to identify forward-looking statements. Any such statements, other than statements of historical fact, may be affected by other unknowable future events and conditions, including elements of the future that are not under Main Street's control, or factors that Main Street may not have considered; accordingly, such statements are not guarantees or assurances of any aspect of future performance. Actual developments and results may vary materially from these forward-looking statements. Such statements speak only as of the time when made, and Main Street undertakes no obligation to update any such statement now or in the future.

    Contacts:
    Main Street Capital Corporation
    Todd A. Reppert, President and CFO
    treppert@mainstcapital.com
    713-350-6000

    Dennard Rupp Gray and Easterly, LLC
    Ken Dennard
    ksdennard@drg-e.com / 713-529-6600
    Augustine Okwu
    gokwu@drg-e.com / 404-532-0086

SOURCE Main Street Capital Corporation

Released May 28, 2009