Dechert advised MSC Income Fund, Inc. (NYSE: MSIF) (MSC Income or the Company), an externally managed business development company, on the closing of its public offering of 5,500,000 shares of its common stock (the Common Stock) at the public offering price of US$15.53 per share.
MSC Income's shares of Common Stock began trading on the New York Stock Exchange under the ticker symbol "MSIF" on January 29, 2025. The underwriters also fully exercised their overallotment option to purchase 825,000 additional shares, resulting in a total sale of 6,325,000 shares and approximately US$92.6 million in total proceeds to the Company, before offering expenses.
MSC Income plans to use the net proceeds to repay outstanding debt under its credit facilities and then re-borrow to make investments, cover operating expenses, fulfill cash obligations and for general corporate purposes.
The Dechert team that advised MSC Income Fund included corporate partners Harry S. Pangas and Clay Douglas, along with associates Austin M. Day, Taylor Stevens, Rebecca Pan, Anjanaye Jariwala, Nicholas Chionchio and Billy J. Roberts.
About Dechert
Dechert is a global law firm that advises asset managers, financial institutions and corporations on issues critical to managing their business and their capital – from high-stakes litigation to complex transactions and regulatory matters. We answer questions that seem unsolvable, develop deal structures that are new to the market and protect clients’ rights in extreme situations. Our nearly 1,000 lawyers across 19 offices globally focus on the financial services, private equity, private credit, real estate, life sciences and technology sectors.
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