Main Street Announces Exit of Portfolio Investment

Generates $11.0 Million Realized Gain and 25.1% Internal Rate of Return from Exit of Investment in American Sensor Technologies, Inc.

News provided by

Main Street Capital Corporation

Sep 04, 2014, 08:26 ET

HOUSTON, Sept. 4, 2014 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") announced today that it recently fully exited its investment in American Sensor Technologies, Inc. ("AST"), a manufacturer of state-of-the-art high performance sensors.

Main Street made its initial investment in AST in May 2005 to support growth initiatives at the company. Main Street's investment consisted of a $3.0 million senior secured, first lien debt investment with an equity warrant participation for 20% of the fully-diluted equity interests in AST. Main Street's debt investment in AST was fully repaid in March 2012; however, Main Street's warrant position remained outstanding. In September 2014, Main Street realized a gain of approximately $11.0 million on the redemption of its warrant by AST. On a cumulative basis since Main Street made its initial investment in AST in May 2005, Main Street realized an internal rate of return of 25.1% and a 5.5 times money invested return on its investment in AST.

ABOUT MAIN STREET CAPITAL CORPORATION

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

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

Contacts:
Main Street Capital Corporation
Dwayne L. Hyzak, CFO and Senior Managing Director
[email protected]
713-350-6000

Dennard ▪ Lascar Associates
Ken Dennard / [email protected]
Jenny Zhou / [email protected]
713-529-6600

SOURCE Main Street Capital Corporation