UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2011
OR
o 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 |
|
(State or other jurisdiction of incorporation or organization) |
|
(I.R.S. Employer Identification No.) |
|
|
|
|
|
1300 Post Oak Boulevard, Suite 800 |
|
|
|
Houston, TX |
|
77056 |
|
(Address of principal executive offices) |
|
(Zip Code) |
(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)
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 x No o
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes o No o
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):
|
Large accelerated filer o |
|
Accelerated filer x |
|
|
|
|
|
Non-accelerated filer o |
|
Smaller reporting company o |
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No x
The number of shares outstanding of the issuer’s common stock as of August 4, 2011 was 23,197,465.
PART I — FINANCIAL INFORMATION
MAIN STREET CAPITAL CORPORATION
Consolidated Balance Sheets
|
|
|
June 30, 2011 |
|
December 31, 2010 |
| ||
|
|
|
(Unaudited) |
|
|
| ||
|
ASSETS |
|
|
|
|
| ||
|
|
|
|
|
|
| ||
|
Portfolio investments at fair value: |
|
|
|
|
| ||
|
Control investments (cost: $187,884,250 and $161,009,443 as of June 30, 2011 and December 31, 2010, respectively) |
|
$ |
206,162,509 |
|
$ |
174,596,394 |
|
|
Affiliate investments (cost: $79,599,578 and $65,650,789 as of June 30, 2011 and December 31, 2010, respectively) |
|
103,864,454 |
|
80,206,804 |
| ||
|
Non-Control/Non-Affiliate investments (cost: $157,923,128 and $91,911,304 as of June 30, 2011 and December 31, 2010, respectively) |
|
159,737,085 |
|
91,956,221 |
| ||
|
Investment in affiliated Investment Manager (cost: $4,284,042 as of June 30, 2011 and December 31, 2010) |
|
1,964,649 |
|
2,051,655 |
| ||
|
|
|
|
|
|
| ||
|
Total portfolio investments (cost: $429,690,998 and $322,855,578 as of June 30, 2011 and December 31, 2010, respectively) |
|
471,728,697 |
|
348,811,074 |
| ||
|
Marketable securities and idle funds investments (cost: $118,916,360 and $67,970,907 as of June 30, 2011 and December 31, 2010, respectively) |
|
120,299,248 |
|
68,752,858 |
| ||
|
|
|
|
|
|
| ||
|
Total investments (cost: $548,607,358 and $390,826,485 as of June 30, 2011 and December 31, 2010, respectively) |
|
592,027,945 |
|
417,563,932 |
| ||
|
|
|
|
|
|
| ||
|
Cash and cash equivalents |
|
14,132,738 |
|
22,334,340 |
| ||
|
Deferred tax asset |
|
— |
|
1,958,593 |
| ||
|
Interest receivable and other assets |
|
7,377,424 |
|
4,523,792 |
| ||
|
Deferred financing costs (net of accumulated amortization of $1,810,987 and $1,504,584 as of June 30, 2011 and December 31, 2010, respectively) |
|
3,715,272 |
|
2,543,645 |
| ||
|
|
|
|
|
|
| ||
|
Total assets |
|
$ |
617,253,379 |
|
$ |
448,924,302 |
|
|
|
|
|
|
|
| ||
|
LIABILITIES |
|
|
|
|
| ||
|
|
|
|
|
|
| ||
|
SBIC debentures (par: $210,000,000 and $180,000,000 as of June 30, 2011 and December 31, 2010, respectively; of which $72,637,267 and $70,557,975 are recorded at fair value as of June 30, 2011 and December 31, 2010, respectively) |
|
$ |
187,637,267 |
|
$ |
155,557,975 |
|
|
Credit facility |
|
73,000,000 |
|
39,000,000 |
| ||
|
Payable for securities purchased |
|
10,805,000 |
|
— |
| ||
|
Interest payable |
|
3,717,072 |
|
3,194,870 |
| ||
|
Dividend payable |
|
3,013,738 |
|
— |
| ||
|
Deferred tax liability |
|
953,719 |
|
— |
| ||
|
Payable to affiliated Investment Manager |
|
2,237,417 |
|
15,124 |
| ||
|
Accounts payable and other liabilities |
|
1,261,674 |
|
1,173,295 |
| ||
|
|
|
|
|
|
| ||
|
Total liabilities |
|
282,625,887 |
|
198,941,264 |
| ||
|
Commitments and contingencies |
|
|
|
|
| ||
|
|
|
|
|
|
| ||
|
NET ASSETS |
|
|
|
|
| ||
|
|
|
|
|
|
| ||
|
Common stock, $0.01 par value per share (150,000,000 shares authorized; 23,182,600 and 18,797,444 issued and outstanding as of June 30, 2011 and December 31, 2010, respectively) |
|
231,826 |
|
187,975 |
| ||
|
Additional paid-in capital |
|
300,130,851 |
|
224,485,165 |
| ||
|
Accumulated net investment income |
|
7,435,312 |
|
9,261,405 |
| ||
|
Accumulated net realized loss from investments |
|
(20,499,798 |
) |
(20,541,897 |
) | ||
|
Net unrealized appreciation, net of income taxes |
|
42,833,531 |
|
32,141,997 |
| ||
|
|
|
|
|
|
| ||
|
Total Net Asset Value |
|
330,131,722 |
|
245,534,645 |
| ||
|
|
|
|
|
|
| ||
|
Noncontrolling interest |
|
4,495,770 |
|
4,448,393 |
| ||
|
|
|
|
|
|
| ||
|
Total net assets including noncontrolling interests |
|
334,627,492 |
|
249,983,038 |
| ||
|
|
|
|
|
|
| ||
|
Total liabilities and net assets |
|
$ |
617,253,379 |
|
$ |
448,924,302 |
|
|
|
|
|
|
|
| ||
|
NET ASSET VALUE PER SHARE |
|
$ |
14.24 |
|
$ |
13.06 |
|
The accompanying notes are an integral part of these financial statements
MAIN STREET CAPITAL CORPORATION
Consolidated Statements of Operations
(Unaudited)
|
|
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
| ||||||||
|
|
|
2011 |
|
2010 |
|
2011 |
|
2010 |
| ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
INVESTMENT INCOME: |
|
|
|
|
|
|
|
|
| ||||
|
Interest, fee and dividend income: |
|
|
|
|
|
|
|
|
| ||||
|
Control investments |
|
$ |
6,491,097 |
|
$ |
4,532,343 |
|
$ |
12,140,859 |
|
$ |
8,127,651 |
|
|
Affiliate investments |
|
3,113,091 |
|
1,953,832 |
|
5,259,510 |
|
3,762,445 |
| ||||
|
Non-Control/Non-Affiliate investments |
|
4,325,520 |
|
1,686,032 |
|
7,656,629 |
|
2,549,428 |
| ||||
|
Total interest, fee and dividend income |
|
13,929,708 |
|
8,172,207 |
|
25,056,998 |
|
14,439,524 |
| ||||
|
Interest from marketable securities, idle funds and other |
|
2,199,054 |
|
560,012 |
|
4,446,336 |
|
1,385,534 |
| ||||
|
Total investment income |
|
16,128,762 |
|
8,732,219 |
|
29,503,334 |
|
15,825,058 |
| ||||
|
EXPENSES: |
|
|
|
|
|
|
|
|
| ||||
|
Interest |
|
(3,263,807 |
) |
(2,111,868 |
) |
(6,166,012 |
) |
(4,105,105 |
) | ||||
|
General and administrative |
|
(599,361 |
) |
(246,194 |
) |
(1,106,543 |
) |
(671,898 |
) | ||||
|
Expenses reimbursed to affiliated Investment Manager |
|
(2,207,606 |
) |
(1,330,611 |
) |
(4,337,412 |
) |
(2,482,798 |
) | ||||
|
Share-based compensation |
|
(442,897 |
) |
(301,458 |
) |
(885,794 |
) |
(602,916 |
) | ||||
|
Total expenses |
|
(6,513,671 |
) |
(3,990,131 |
) |
(12,495,761 |
) |
(7,862,717 |
) | ||||
|
NET INVESTMENT INCOME |
|
9,615,091 |
|
4,742,088 |
|
17,007,573 |
|
7,962,341 |
| ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
NET REALIZED GAIN (LOSS) FROM INVESTMENTS: |
|
|
|
|
|
|
|
|
| ||||
|
Control investments |
|
— |
|
2,301,745 |
|
— |
|
(1,719,173 |
) | ||||
|
Marketable securities and idle funds investments |
|
249,654 |
|
353,487 |
|
249,654 |
|
313,948 |
| ||||
|
Total net realized gain (loss) from investments |
|
249,654 |
|
2,655,232 |
|
249,654 |
|
(1,405,225 |
) | ||||
|
NET REALIZED INCOME |
|
9,864,745 |
|
7,397,320 |
|
17,257,227 |
|
6,557,116 |
| ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
NET CHANGE IN UNREALIZED APPRECIATION (DEPRECIATION): |
|
|
|
|
|
|
|
|
| ||||
|
Portfolio investments |
|
11,524,983 |
|
957,432 |
|
15,543,567 |
|
6,072,091 |
| ||||
|
Marketable securities and idle funds investments |
|
519,734 |
|
(484,585 |
) |
634,477 |
|
(231,281 |
) | ||||
|
SBIC debentures |
|
(2,117,924 |
) |
1,475,861 |
|
(2,079,292 |
) |
1,757,054 |
| ||||
|
Investment in affiliated Investment Manager |
|
(45,700 |
) |
(141,117 |
) |
(87,006 |
) |
(286,196 |
) | ||||
|
Total net change in unrealized appreciation |
|
9,881,093 |
|
1,807,591 |
|
14,011,746 |
|
7,311,668 |
| ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
Income tax provision |
|
(1,962,206 |
) |
(36,686 |
) |
(3,162,612 |
) |
(421,260 |
) | ||||
|
Bargain purchase gain |
|
— |
|
— |
|
— |
|
4,890,582 |
| ||||
|
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS |
|
17,783,632 |
|
9,168,225 |
|
28,106,361 |
|
18,338,106 |
| ||||
|
Noncontrolling interest |
|
(157,600 |
) |
(295,559 |
) |
(157,600 |
) |
(408,895 |
) | ||||
|
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS ATTRIBUTABLE TO COMMON STOCK |
|
$ |
17,626,032 |
|
$ |
8,872,666 |
|
$ |
27,948,761 |
|
$ |
17,929,211 |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
NET INVESTMENT INCOME PER SHARE - BASIC AND DILUTED |
|
$ |
0.41 |
|
$ |
0.31 |
|
$ |
0.79 |
|
$ |
0.53 |
|
|
NET REALIZED INCOME PER SHARE - BASIC AND DILUTED |
|
$ |
0.42 |
|
$ |
0.49 |
|
$ |
0.80 |
|
$ |
0.44 |
|
|
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS ATTRIBUTABLE TO COMMON STOCK PER SHARE - BASIC AND DILUTED |
|
$ |
0.77 |
|
$ |
0.59 |
|
$ |
1.32 |
|
$ |
1.22 |
|
|
DIVIDENDS PAID PER SHARE |
|
$ |
0.39 |
|
$ |
0.38 |
|
$ |
0.77 |
|
$ |
0.75 |
|
|
WEIGHTED AVERAGE SHARES OUTSTANDING - BASIC AND DILUTED |
|
23,015,718 |
|
15,147,091 |
|
21,128,360 |
|
14,754,121 |
| ||||
The accompanying notes are an integral part of these financial statements
MAIN STREET CAPITAL CORPORATION
Consolidated Statements of Changes in Net Assets
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Unrealized |
|
|
|
|
|
Total Net |
| ||||||||
|
|
|
|
|
|
|
|
|
|
|
Accumulated |
|
Appreciation from |
|
|
|
|
|
Assets |
| ||||||||
|
|
|
Common Stock |
|
Additional |
|
Accumulated |
|
Net Realized |
|
Investments, |
|
|
|
|
|
Including |
| ||||||||||
|
|
|
Number |
|
Par |
|
Paid-In |
|
Net Investment |
|
Loss From |
|
Net of Income |
|
Total Net |
|
Noncontrolling |
|
Noncontrolling |
| ||||||||
|
|
|
of Shares |
|
Value |
|
Capital |
|
Income |
|
Investments |
|
Taxes |
|
Asset Value |
|
Interest |
|
Interest |
| ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
|
Balances at December 31, 2009 |
|
10,842,447 |
|
$ |
108,425 |
|
$ |
123,534,156 |
|
$ |
7,269,866 |
|
$ |
(15,922,020 |
) |
$ |
14,669,704 |
|
$ |
129,660,131 |
|
$ |
— |
|
$ |
129,660,131 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
|
MSC II exchange offer and related transactions |
|
1,246,803 |
|
12,468 |
|
20,080,623 |
|
4,890,582 |
|
— |
|
— |
|
24,983,673 |
|
3,237,210 |
|
28,220,883 |
| ||||||||
|
Public offering of common stock, net of offering costs |
|
2,875,000 |
|
28,750 |
|
40,079,845 |
|
— |
|
— |
|
— |
|
40,108,595 |
|
— |
|
40,108,595 |
| ||||||||
|
Share-based compensation |
|
— |
|
— |
|
602,916 |
|
— |
|
— |
|
— |
|
602,916 |
|
— |
|
602,916 |
| ||||||||
|
Dividend reinvestment |
|
248,803 |
|
2,487 |
|
3,793,741 |
|
— |
|
— |
|
— |
|
3,796,228 |
|
— |
|
3,796,228 |
| ||||||||
|
Adjustment to investment in Investment Manager related to the MSC II Exchange Offer |
|
— |
|
— |
|
(13,715,958 |
) |
— |
|
— |
|
— |
|
(13,715,958 |
) |
— |
|
(13,715,958 |
) | ||||||||
|
Dividends to stockholders |
|
— |
|
— |
|
— |
|
(11,331,527 |
) |
(1,349,863 |
) |
— |
|
(12,681,390 |
) |
— |
|
(12,681,390 |
) | ||||||||
|
Net increase resulting from operations |
|
— |
|
— |
|
— |
|
7,962,341 |
|
(1,405,225 |
) |
6,890,408 |
|
13,447,524 |
|
— |
|
13,447,524 |
| ||||||||
|
Noncontrolling interest |
|
— |
|
— |
|
— |
|
— |
|
— |
|
(408,895 |
) |
(408,895 |
) |
408,895 |
|
— |
| ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
|
Balances at June 30, 2010 |
|
15,213,053 |
|
$ |
152,130 |
|
$ |
174,375,323 |
|
$ |
8,791,262 |
|
$ |
(18,677,108 |
) |
$ |
21,151,217 |
|
$ |
185,792,824 |
|
$ |
3,646,105 |
|
$ |
189,438,929 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
|
Balances at December 31, 2010 |
|
18,797,444 |
|
$ |
187,975 |
|
$ |
224,485,165 |
|
$ |
9,261,405 |
|
$ |
(20,541,897 |
) |
$ |
32,141,997 |
|
$ |
245,534,645 |
|
$ |
4,448,393 |
|
$ |
249,983,038 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
|
Public offering of common stock, net of offering costs |
|
4,025,000 |
|
40,250 |
|
70,309,656 |
|
— |
|
— |
|
— |
|
70,349,906 |
|
— |
|
70,349,906 |
| ||||||||
|
Share-based compensation |
|
— |
|
— |
|
885,794 |
|
— |
|
— |
|
— |
|
885,794 |
|
— |
|
885,794 |
| ||||||||
|
Dividend reinvestment |
|
235,844 |
|
2,358 |
|
4,451,479 |
|
— |
|
— |
|
— |
|
4,453,837 |
|
— |
|
4,453,837 |
| ||||||||
|
Issuance of restricted stock |
|
124,312 |
|
1,243 |
|
(1,243 |
) |
— |
|
— |
|
— |
|
— |
|
— |
|
— |
| ||||||||
|
Distributions to noncontrolling interest |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
(110,223 |
) |
(110,223 |
) | ||||||||
|
Dividends to stockholders |
|
— |
|
— |
|
— |
|
(18,833,666 |
) |
(207,555 |
) |
— |
|
(19,041,221 |
) |
— |
|
(19,041,221 |
) | ||||||||
|
Net increase resulting from operations |
|
— |
|
— |
|
— |
|
17,007,573 |
|
249,654 |
|
10,849,134 |
|
28,106,361 |
|
— |
|
28,106,361 |
| ||||||||
|
Noncontrolling interest |
|
— |
|
— |
|
— |
|
— |
|
— |
|
(157,600 |
) |
(157,600 |
) |
157,600 |
|
— |
| ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
|
Balances at June 30, 2011 |
|
23,182,600 |
|
$ |
231,826 |
|
$ |
300,130,851 |
|
$ |
7,435,312 |
|
$ |
(20,499,798 |
) |
$ |
42,833,531 |
|
$ |
330,131,722 |
|
$ |
4,495,770 |
|
$ |
334,627,492 |
|
The accompanying notes are an integral part of these financial statements
MAIN STREET CAPITAL CORPORATION
Consolidated Statements of Cash Flows
(Unaudited)
|
|
|
Six Months Ended June 30, |
| ||||
|
|
|
2011 |
|
2010 |
| ||
|
CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
|
|
| ||
|
Net increase in net assets resulting from operations |
|
$ |
28,106,361 |
|
$ |
18,338,106 |
|
|
Adjustments to reconcile net increase in net assets resulting from operations to net cash provided by operating activities: |
|
|
|
|
| ||
|
Net change in unrealized appreciation |
|
(14,011,746 |
) |
(7,311,668 |
) | ||
|
Net realized (gain) loss from investments |
|
(249,654 |
) |
1,405,225 |
| ||
|
Bargain purchase gain |
|
— |
|
(4,890,582 |
) | ||
|
Accretion of unearned income |
|
(2,699,360 |
) |
(1,092,705 |
) | ||
|
Net payment-in-kind interest accrual |
|
(2,014,999 |
) |
(429,153 |
) | ||
|
Share-based compensation expense |
|
885,794 |
|
602,916 |
| ||
|
Amortization of deferred financing costs |
|
306,403 |
|
195,868 |
| ||
|
Deferred taxes |
|
2,912,311 |
|
(185 |
) | ||
|
Changes in other assets and liabilities: |
|
|
|
|
| ||
|
Interest receivable and other assets |
|
(1,400,332 |
) |
(1,204,605 |
) | ||
|
Interest payable |
|
522,202 |
|
233,897 |
| ||
|
Payable to affiliated Investment Manager |
|
2,222,293 |
|
384,431 |
| ||
|
Accounts payable and other liabilities |
|
88,379 |
|
431,922 |
| ||
|
Deferred fees and other |
|
737,240 |
|
689,700 |
| ||
|
Net cash provided by operating activities |
|
15,404,892 |
|
7,353,167 |
| ||
|
|
|
|
|
|
| ||
|
CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
|
|
| ||
|
Investments in portfolio companies |
|
(116,120,574 |
) |
(85,739,245 |
) | ||
|
Principal payments received on loans and debt securities in portfolio companies |
|
19,627,346 |
|
2,670,737 |
| ||
|
Proceeds from sale of equity investments and related notes in portfolio companies |
|
375,906 |
|
3,151,500 |
| ||
|
Cash acquired in MSC II exchange offer |
|
— |
|
2,489,920 |
| ||
|
Investments in marketable securities and idle funds investments |
|
(77,953,572 |
) |
(30,734,400 |
) | ||
|
Proceeds from marketable securities and idle funds investments |
|
29,276,393 |
|
19,546,235 |
| ||
|
Net cash used in investing activities |
|
(144,794,501 |
) |
(88,615,253 |
) | ||
|
|
|
|
|
|
| ||
|
CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
|
|
| ||
|
Proceeds from public offering of common stock, net of offering costs |
|
70,349,906 |
|
40,108,595 |
| ||
|
Distributions to noncontrolling interest |
|
(110,223 |
) |
— |
| ||
|
Dividends paid to stockholders |
|
(11,573,646 |
) |
(6,983,532 |
) | ||
|
Proceeds from issuance of SBIC debentures |
|
30,000,000 |
|
10,000,000 |
| ||
|
Proceeds from credit facility |
|
99,000,000 |
|
30,650,000 |
| ||
|
Repayments on credit facility |
|
(65,000,000 |
) |
(18,150,000 |
) | ||
|
Payment of deferred loan costs and SBIC debenture fees |
|
(1,478,030 |
) |
(252,810 |
) | ||
|
Net cash provided by financing activities |
|
121,188,007 |
|
55,372,253 |
| ||
|
|
|
|
|
|
| ||
|
Net decrease in cash and cash equivalents |
|
(8,201,602 |
) |
(25,889,833 |
) | ||
|
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD |
|
22,334,340 |
|
30,619,998 |
| ||
|
CASH AND CASH EQUIVALENTS AT END OF PERIOD |
|
$ |
14,132,738 |
|
$ |
4,730,165 |
|
The accompanying notes are an integral part of these financial statements
MAIN STREET CAPITAL CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS
June 30, 2011
(Unaudited)
|
Portfolio Company/Type of Investment (1) (2) |
|
Industry |
|
Principal (6) |
|
Cost (6) |
|
Fair Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
Control Investments (3) |
|
|
|
|
|
|
|
|
|
|
Café Brazil, LLC |
|
Casual Restaurant Group |
|
|
|
|
|
|
|
|
12% Secured Debt (Maturity - April 20, 2013) |
|
|
|
1,700,000 |
|
1,698,240 |
|
1,700,000 |
|
|
Member Units (Fully diluted 41.0%) (7) |
|
|
|
|
|
41,837 |
|
2,860,220 |
|
|
|
|
|
|
|
|
1,740,077 |
|
4,560,220 |
|
|
|
|
|
|
|
|
|
|
|
|
|
California Healthcare Medical Billing, Inc. |
|
Healthcare Billing and Records Management |
|
|
|
|
|
|
|
|
12% Secured Debt (Maturity - October 17, 2015) |
|
|
|
7,803,000 |
|
7,419,403 |
|
7,718,351 |
|
|
Warrants (Fully diluted 20.1%) |
|
|
|
|
|
1,193,333 |
|
3,380,333 |
|
|
Common Stock (Fully diluted 9.7%) |
|
|
|
|
|
1,176,667 |
|
1,390,000 |
|
|
|
|
|
|
|
|
9,789,403 |
|
12,488,684 |
|
|
|
|
|
|
|
|
|
|
|
|
|
CBT Nuggets, LLC |
|
Produces and Sells IT Certification Training Videos |
|
|
|
|
|
|
|
|
14% Secured Debt (Maturity - December 31, 2013) |
|
|
|
2,725,000 |
|
2,725,000 |
|
2,725,000 |
|
|
Member Units (Fully diluted 40.8%) (7) |
|
|
|
|
|
1,299,520 |
|
4,360,000 |
|
|
|
|
|
|
|
|
4,024,520 |
|
7,085,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Ceres Management, LLC (Lambs) |
|
Aftermarket Automotive Services Chain |
|
|
|
|
|
|
|
|
14% Secured Debt (Maturity - May 31, 2013) |
|
|
|
4,000,000 |
|
3,970,924 |
|
3,970,924 |
|
|
9.5% Secured Debt (Lamb’s Real Estate Investment I, LLC) (Maturity - October 1, 2025) |
|
|
|
1,225,000 |
|
1,225,000 |
|
1,225,000 |
|
|
Class B Member Units (15% cumulative) (Non-voting) (7) |
|
|
|
|
|
2,409,667 |
|
2,409,667 |
|
|
Member Units (Fully diluted 100%) |
|
|
|
|
|
1,813,333 |
|
390,000 |
|
|
Member Units (Lamb’s Real Estate Investment I, LLC) (Fully diluted 100%) (7) |
|
|
|
|
|
625,000 |
|
750,000 |
|
|
|
|
|
|
|
|
10,043,924 |
|
8,745,591 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Condit Exhibits, LLC |
|
Tradeshow Exhibits/Custom Displays |
|
|
|
|
|
|
|
|
9% Current / 9% PIK Secured Debt (Maturity - July 1, 2013) |
|
|
|
4,660,948 |
|
4,626,472 |
|
4,626,472 |
|
|
Warrants (Fully diluted 47.9%) |
|
|
|
|
|
320,000 |
|
220,000 |
|
|
|
|
|
|
|
|
4,946,472 |
|
4,846,472 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Currie Acquisitions, LLC |
|
Consumer Products |
|
|
|
|
|
|
|
|
12% Secured Debt (Maturity - March 1, 2015) |
|
|
|
4,750,000 |
|
4,039,149 |
|
3,039,149 |
|
|
Warrants (Fully diluted 47.3%) |
|
|
|
|
|
2,566,204 |
|
— |
|
|
|
|
|
|
|
|
6,605,353 |
|
3,039,149 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Gulf Manufacturing, LLC |
|
Industrial Metal Fabrication |
|
|
|
|
|
|
|
|
9% PIK Secured Debt (Maturity - June 30, 2017) |
|
|
|
1,185,131 |
|
1,185,131 |
|
1,185,131 |
|
|
Member Units (Fully diluted 34.2%) (7) |
|
|
|
|
|
2,979,813 |
|
8,560,000 |
|
|
|
|
|
|
|
|
4,164,944 |
|
9,745,131 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Harrison Hydra-Gen, Ltd. |
|
Manufacturer of Hydraulic Generators |
|
|
|
|
|
|
|
|
12% Secured Debt (Maturity - June 4, 2015) |
|
|
|
5,737,375 |
|
5,082,668 |
|
5,400,000 |
|
|
Preferred stock (8% cumulative) (7) |
|
|
|
|
|
1,040,222 |
|
1,040,222 |
|
|
Warrants (Fully diluted 35.2%) |
|
|
|
|
|
717,640 |
|
1,360,000 |
|
|
|
|
|
|
|
|
6,840,530 |
|
7,800,222 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Hawthorne Customs & Dispatch Services, LLC |
|
Transportation/ Logistics |
|
|
|
|
|
|
|
|
Member Units (Fully diluted 59.1%) (7) |
|
|
|
|
|
692,500 |
|
1,300,000 |
|
|
Member Units (Wallisville Real Estate, LLC) (Fully diluted 59.1%) (7) |
|
|
|
|
|
1,214,784 |
|
1,214,784 |
|
|
|
|
|
|
|
|
1,907,284 |
|
2,514,784 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Hydratec, Inc. |
|
Agricultural Services |
|
|
|
|
|
|
|
|
Common Stock (Fully diluted 92.5%) (7) |
|
|
|
|
|
7,089,911 |
|
10,414,911 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Indianapolis Aviation Partners, LLC |
|
FBO / Aviation Support Services |
|
|
|
|
|
|
|
|
12% Secured Debt (Maturity - September 15, 2014) |
|
|
|
4,500,000 |
|
4,178,150 |
|
4,350,000 |
|
|
Warrants (Fully diluted 30.1%) |
|
|
|
|
|
1,129,286 |
|
1,270,286 |
|
|
|
|
|
|
|
|
5,307,436 |
|
5,620,286 |
|
MAIN STREET CAPITAL CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS
June 30, 2011
(Unaudited)
|
Portfolio Company/Type of Investment (1) (2) |
|
Industry |
|
Principal (6) |
|
Cost (6) |
|
Fair Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
Control Investments (3) |
|
|
|
|
|
|
|
|
|
|
Jensen Jewelers of Idaho, LLC |
|
Retail Jewelry |
|
|
|
|
|
|
|
|
Prime Plus 2%, Current Coupon 5.25%, Secured Debt (Maturity - November 14, 2013) |
|
|
|
2,260,000 |
|
2,258,575 |
|
2,260,000 |
|
|
13% Current / 6% PIK Secured Debt (Maturity - November 14, 2013) |
|
|
|
2,344,896 |
|
2,343,198 |
|
2,344,896 |
|
|
Member Units (Fully diluted 60.8%) (7) |
|
|
|
|
|
811,000 |
|
1,750,000 |
|
|
|
|
|
|
|
|
5,412,773 |
|
6,354,896 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Lighting Unlimited, LLC |
|
Commercial and Residential Lighting Products and Design Services |
|
|
|
|
|
|
|
|
8% Secured Debt (Maturity - August 22, 2012) |
|
|
|
2,000,000 |
|
1,972,676 |
|
1,972,676 |
|
|
Preferred Stock (non-voting) |
|
|
|
|
|
510,098 |
|
510,098 |
|
|
Warrants (Fully diluted 7.07%) |
|
|
|
|
|
54,000 |
|
— |
|
|
Common Stock (Fully diluted 70.0%) |
|
|
|
|
|
100,000 |
|
100,000 |
|
|
|
|
|
|
|
|
2,636,774 |
|
2,582,774 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Mid-Columbia Lumber Products, LLC |
|
Specialized Lumber Products |
|
|
|
|
|
|
|
|
10% Secured Debt (Maturity - April 1, 2012) |
|
|
|
1,250,000 |
|
1,250,000 |
|
1,250,000 |
|
|
12% Secured Debt (Maturity - December 18, 2011) |
|
|
|
3,900,000 |
|
3,872,028 |
|
3,900,000 |
|
|
9.5% Secured Debt (Mid-Columbia Real Estate, LLC) (Maturity - May 13, 2025) |
|
|
|
1,084,800 |
|
1,084,800 |
|
1,084,800 |
|
|
Warrants (Fully diluted 9.2%) |
|
|
|
|
|
250,000 |
|
890,000 |
|
|
Member Units (Fully diluted 42.9%) |
|
|
|
|
|
812,000 |
|
930,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Member Units (Mid-Columbia Real Estate, LLC) (Fully diluted 50.0%) |
|
|
|
|
|
250,000 |
|
810,000 |
|
|
|
|
|
|
|
|
7,518,828 |
|
8,864,800 |
|
|
|
|
|
|
|
|
|
|
|
|
|
NAPCO Precast, LLC |
|
Precast Concrete Manufacturing |
|
|
|
|
|
|
|
|
18% Secured Debt (Maturity - February 1, 2013) |
|
|
|
5,923,077 |
|
5,873,252 |
|
5,923,077 |
|
|
Prime Plus 2%, Current Coupon 9%, Secured Debt (Maturity - February 1, 2013) (8) |
|
|
|
3,384,615 |
|
3,372,167 |
|
3,384,615 |
|
|
Member Units (Fully diluted 35.3%) (7) |
|
|
|
|
|
2,020,000 |
|
3,510,000 |
|
|
|
|
|
|
|
|
11,265,419 |
|
12,817,692 |
|
|
|
|
|
|
|
|
|
|
|
|
|
NTS Holdings, Inc. |
|
Trench & Traffic Safety Equipment |
|
|
|
|
|
|
|
|
12% Secured Debt (Maturity - April 30, 2015) |
|
|
|
6,000,000 |
|
5,967,193 |
|
5,967,193 |
|
|
Preferred stock (12% cumulative) (7) |
|
|
|
|
|
11,251,405 |
|
11,251,405 |
|
|
Common Stock (Fully diluted 72.3%) |
|
|
|
|
|
1,621,255 |
|
190,000 |
|
|
|
|
|
|
|
|
18,839,853 |
|
17,408,598 |
|
|
|
|
|
|
|
|
|
|
|
|
|
OMi Holdings, Inc. |
|
Manufacturer of Overhead Cranes |
|
|
|
|
|
|
|
|
12% Secured Debt (Maturity - April 1, 2013) |
|
|
|
9,770,000 |
|
9,729,276 |
|
9,729,276 |
|
|
Common Stock (Fully diluted 48.0%) |
|
|
|
|
|
1,080,000 |
|
1,300,000 |
|
|
|
|
|
|
|
|
10,809,276 |
|
11,029,276 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Pegasus Research Group, LLC (Televerde) |
|
Telemarketing and Data Services |
|
|
|
|
|
|
|
|
13% Current / 3% PIK Secured Debt (Maturity - January 6, 2016) |
|
|
|
6,342,002 |
|
6,261,422 |
|
6,261,422 |
|
|
Member Units (Fully diluted 43.7%) |
|
|
|
|
|
1,250,000 |
|
1,250,000 |
|
|
|
|
|
|
|
|
7,511,422 |
|
7,511,422 |
|
|
|
|
|
|
|
|
|
|
|
|
|
PPL RVs, Inc. |
|
Recreational Vehicle Parts and Consignment |
|
|
|
|
|
|
|
|
18% Secured Debt (Maturity - June 10, 2015) |
|
|
|
5,750,000 |
|
5,677,710 |
|
5,750,000 |
|
|
Member Units (Fully diluted 50.1%) |
|
|
|
|
|
2,150,000 |
|
3,250,000 |
|
|
|
|
|
|
|
|
7,827,710 |
|
9,000,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Principle Environmental, LLC |
|
Noise Abatement Products/Services |
|
|
|
|
|
|
|
|
12% Secured Debt (Maturity - February 1, 2016) |
|
|
|
5,500,000 |
|
4,271,016 |
|
4,271,016 |
|
|
12% Current / 2% PIK Secured Debt (Maturity - February 1, 2016) |
|
|
|
500,000 |
|
490,000 |
|
490,000 |
|
|
Warrants (Fully diluted 15%) |
|
|
|
|
|
1,200,000 |
|
1,200,000 |
|
|
Member Units (Fully diluted 25%) |
|
|
|
|
|
2,000,000 |
|
2,000,000 |
|
|
|
|
|
|
|
|
7,961,016 |
|
7,961,016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
River Aggregates, LLC |
|
Construction Aggregates |
|
|
|
|
|
|
|
|
12% Secured Debt (Maturity - March 30, 2016) |
|
|
|
3,500,000 |
|
3,314,494 |
|
3,314,494 |
|
|
Warrants (Fully diluted 10%) |
|
|
|
|
|
122,500 |
|
122,500 |
|
|
Member Units (Fully diluted 45%) |
|
|
|
|
|
550,000 |
|
550,000 |
|
|
|
|
|
|
|
|
3,986,994 |
|
3,986,994 |
|
|
|
|
|
|
|
|
|
|
|
|
|
The MPI Group, LLC |
|
Manufacturer of Custom |
|
|
|
|
|
|
|
|
4.5% Current / 4.5% PIK Secured Debt (Maturity — October 2, 2013) |
|
|
|
1,022,013 |
|
1,016,675 |
|
1,016,675 |
|
|
6% Current / 6% PIK Secured Debt (Maturity — October 2, 2013) |
|
|
|
5,252,500 |
|
5,112,604 |
|
5,112,604 |
|
|
Warrants (Fully diluted 47.1%) |
|
|
|
|
|
895,943 |
|
— |
|
|
|
|
|
|
|
|
7,025,222 |
|
6,129,279 |
|
MAIN STREET CAPITAL CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS
June 30, 2011
(Unaudited)
|
Portfolio Company/Type of Investment (1) (2) |
|
Industry |
|
Principal (6) |
|
Cost (6) |
|
Fair Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
Control Investments (3) |
|
|
|
|
|
|
|
|
|
|
Thermal & Mechanical Equipment, LLC |
|
Heat Exchange / Filtration Products and Services |
|
|
|
|
|
|
|
|
Prime Plus 2%, Current Coupon 9%, Secured Debt (Maturity - September 25, 2014) (8) |
|
|
|
1,415,540 |
|
1,407,768 |
|
1,407,768 |
|
|
13% Current / 5% PIK Secured Debt (Maturity - September 25, 2014) |
|
|
|
4,509,680 |
|
4,455,564 |
|
4,509,680 |
|
|
Member Units (Fully diluted 50.0%) (7) |
|
|
|
|
|
1,000,000 |
|
3,720,000 |
|
|
|
|
|
|
|
|
6,863,332 |
|
9,637,448 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Uvalco Supply, LLC |
|
Farm and Ranch Supply |
|
|
|
|
|
|
|
|
Member Units (Fully diluted 42.8%) (7) |
|
|
|
|
|
1,113,243 |
|
2,060,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Van Gilder Insurance Corporation |
|
Insurance Brokerage |
|
|
|
|
|
|
|
|
8% Secured Debt (Maturity - January 31, 2016) |
|
|
|
1,890,445 |
|
1,864,206 |
|
1,864,206 |
|
|
13% Secured Debt (Maturity - January 31, 2016) |
|
|
|
6,150,000 |
|
4,906,126 |
|
4,906,126 |
|
|
Warrants (Fully diluted 10%) |
|
|
|
|
|
1,208,643 |
|
1,208,643 |
|
|
Common Stock (Fully diluted 15.51%) |
|
|
|
|
|
2,499,876 |
|
2,499,876 |
|
|
|
|
|
|
|
|
10,478,851 |
|
10,478,851 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Vision Interests, Inc. |
|
Manufacturer/Installer of Commercial Signage |
|
|
|
|
|
|
|
|
2.6% Current /10.4% PIK Secured Debt (Maturity - June 5, 2012) |
|
|
|
9,400,000 |
|
8,424,811 |
|
6,322,651 |
|
|
2.6% Current /10.4% PIK Secured Debt (Maturity - June 5, 2016) |
|
|
|
760,000 |
|
740,587 |
|
740,587 |
|
|
Warrants (Fully diluted 38.2%) |
|
|
|
|
|
160,010 |
|
— |
|
|
Common Stock (Fully diluted 22.3%) |
|
|
|
|
|
372,000 |
|
— |
|
|
|
|
|
|
|
|
9,697,408 |
|
7,063,238 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Ziegler’s NYPD, LLC |
|
Casual Restaurant Group |
|
|
|
|
|
|
|
|
Prime Plus 2%, Current Coupon 9%, Secured Debt (Maturity - October 31, 2013) (8) |
|
|
|
1,000,000 |
|
994,928 |
|
994,928 |
|
|
13% Current / 5% PIK Secured Debt (Maturity - October 31, 2013) |
|
|
|
4,923,793 |
|
4,881,347 |
|
4,881,347 |
|
|
Warrants (Fully diluted 46.6%) |
|
|
|
|
|
600,000 |
|
539,500 |
|
|
|
|
|
|
|
|
6,476,275 |
|
6,415,775 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Subtotal Control Investments (34.8% of total investments at fair value) |
|
|
|
|
|
187,884,250 |
|
206,162,509 |
|
MAIN STREET CAPITAL CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS
June 30, 2011
(Unaudited)
|
Portfolio Company/Type of Investment (1) (2) |
|
Industry |
|
Principal (6) |
|
Cost (6) |
|
Fair Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
Affiliate Investments (4) |
|
|
|
|
|
|
|
|
|
|
American Sensor Technologies, Inc. |
|
Manufacturer of Commercial/ Industrial Sensors |
|
|
|
|
|
|
|
|
9% Secured Debt (Maturity - May 31, 2012) |
|
|
|
3,297,783 |
|
3,283,052 |
|
3,283,052 |
|
|
Warrants (Fully diluted 19.6%) |
|
|
|
|
|
49,990 |
|
2,230,000 |
|
|
|
|
|
|
|
|
3,333,042 |
|
5,513,052 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Audio Messaging Solutions, LLC |
|
Audio Messaging Services |
|
|
|
|
|
|
|
|
12% Secured Debt (Maturity - June 16, 2016) |
|
|
|
14,560,000 |
|
14,008,544 |
|
14,426,000 |
|
|
Warrants (Fully diluted 9.8%) |
|
|
|
|
|
886,933 |
|
2,110,000 |
|
|
|
|
|
|
|
|
14,895,477 |
|
16,536,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Compact Power Equipment Centers LLC |
|
Light to Medium Duty Equipment Rental |
|
|
|
|
|
|
|
|
6% Current / 6% PIK Secured Debt (Maturity - December 30, 2014) |
|
|
|
2,769,142 |
|
2,743,190 |
|
2,743,190 |
|
|
Series A Member Units (8% cumulative) (7) |
|
|
|
|
|
820,110 |
|
820,110 |
|
|
Member Units (Fully diluted 10.6%) |
|
|
|
|
|
1,147 |
|
1,147 |
|
|
|
|
|
|
|
|
3,564,447 |
|
3,564,447 |
|
|
|
|
|
|
|
|
|
|
|
|
|
DrillingInfo, Inc. |
|
Information Services for the Oil and Gas Industry |
|
|
|
|
|
|
|
|
12% Secured Debt (Maturity - November 20, 2014) |
|
|
|
8,000,000 |
|
6,943,909 |
|
8,000,000 |
|
|
8.75% Secured Debt (Maturity - April 18, 2016) |
|
|
|
750,000 |
|
750,000 |
|
750,000 |
|
|
Warrants (Fully diluted 4.9%) |
|
|
|
|
|
1,250,000 |
|
8,330,000 |
|
|
Common Stock (Fully diluted 2.4%) |
|
|
|
|
|
1,335,325 |
|
3,930,325 |
|
|
|
|
|
|
|
|
10,279,234 |
|
21,010,325 |
|
|
|
|
|
|
|
|
|
|
|
|
|
East Teak Fine Hardwoods, Inc. |
|
Hardwood Products |
|
|
|
|
|
|
|
|
Common Stock (Fully diluted 5.0%) |
|
|
|
|
|
480,318 |
|
330,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Houston Plating & Coatings, LLC |
|
Plating & Industrial Coating Services |
|
|
|
|
|
|
|
|
Prime Plus 2%, Current Coupon 5.25%, Debt (Maturity - July 18, 2013) |
|
|
|
300,000 |
|
300,000 |
|
300,000 |
|
|
Member Units (Fully diluted 11.1%) (7) |
|
|
|
|
|
335,000 |
|
3,605,000 |
|
|
|
|
|
|
|
|
635,000 |
|
3,905,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
IRTH Holdings, LLC |
|
Utility Technology Services |
|
|
|
|
|
|
|
|
12% Secured Debt (Maturity - December 29, 2015) |
|
|
|
5,683,940 |
|
5,588,476 |
|
5,683,940 |
|
|
Member Units (Fully diluted 22.3%) |
|
|
|
|
|
850,000 |
|
1,570,000 |
|
|
|
|
|
|
|
|
6,438,476 |
|
7,253,940 |
|
|
|
|
|
|
|
|
|
|
|
|
|
KBK Industries, LLC |
|
Specialty Manufacturer of Oilfield and Industrial Products |
|
|
|
|
|
|
|
|
10% Secured Debt (Maturity - March 31, 2012) |
|
|
|
264,940 |
|
264,940 |
|
264,940 |
|
|
14% Secured Debt (Maturity - January 23, 2014) |
|
|
|
5,250,000 |
|
5,250,000 |
|
5,250,000 |
|
|
Member Units (Fully diluted 18.8%) (7) |
|
|
|
|
|
340,833 |
|
2,180,000 |
|
|
|
|
|
|
|
|
5,855,773 |
|
7,694,940 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Laurus Healthcare, LP |
|
Healthcare Facilities / Services |
|
|
|
|
|
|
|
|
9% Secured Debt (Maturity - May 12, 2016) |
|
|
|
6,150,000 |
|
6,150,000 |
|
6,150,000 |
|
|
Class A and C Units (Fully diluted 13.1%) (7) |
|
|
|
|
|
79,505 |
|
5,360,000 |
|
|
|
|
|
|
|
|
6,229,505 |
|
11,510,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Merrick Systems, Inc. |
|
Software and Information Technology |
|
|
|
|
|
|
|
|
13% Secured Debt (Maturity - May 5, 2015) |
|
|
|
2,900,000 |
|
2,491,742 |
|
2,680,000 |
|
|
Warrants (Fully diluted 6.5%) |
|
|
|
|
|
450,000 |
|
880,000 |
|
|
|
|
|
|
|
|
2,941,742 |
|
3,560,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Olympus Building Services, Inc. |
|
Custodial/Facilities Services |
|
|
|
|
|
|
|
|
12% Secured Debt (Maturity - March 27, 2014) |
|
|
|
3,150,000 |
|
2,952,389 |
|
3,050,000 |
|
|
12% Current / 3% PIK Secured Debt (Maturity - March 27, 2014) |
|
|
|
998,843 |
|
998,843 |
|
998,843 |
|
|
Warrants (Fully diluted 22.5%) |
|
|
|
|
|
470,000 |
|
600,000 |
|
|
|
|
|
|
|
|
4,421,232 |
|
4,648,843 |
|
|
|
|
|
|
|
|
|
|
|
|
|
OnAsset Intelligence, Inc. |
|
Transportation Monitoring/Tracking Services |
|
|
|
|
|
|
|
|
12% Secured Debt (Maturity - October 18, 2012) |
|
|
|
1,500,000 |
|
697,470 |
|
697,470 |
|
|
Preferred Stock (7% cumulative) (Fully diluted 5.75%) (7) |
|
|
|
|
|
1,521,585 |
|
1,521,585 |
|
|
Warrants (Fully diluted 4.0%) |
|
|
|
|
|
830,000 |
|
830,000 |
|
|
|
|
|
|
|
|
3,049,055 |
|
3,049,055 |
|
MAIN STREET CAPITAL CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS
June 30, 2011
(Unaudited)
|
Portfolio Company/Type of Investment (1) (2) |