Business Context and Reporting Period
This Form 8-K was filed by Apollo Investment Corporation (not Midcap Financial Investment Corp) on March 20, 2006. The registrant is a closed-end investment company treated as a business development company under the Investment Company Act of 1940. Its portfolio focuses on middle-market private companies, primarily through mezzanine loans, senior secured loans, and equity investments.
Key Financial Metrics
The filing details a public offering of common stock rather than periodic financial performance metrics. Key transaction figures include:
- Shares Offered: 15 million shares of common stock.
- Offering Price: $17.85 per share.
- Over-Allotment Option: Underwriters granted an option to purchase up to 2,250,000 additional shares.
- Expected Closing Date: March 22, 2006.
The filing text does not provide specific values for revenue, profit, cash flow, margins, existing debt levels, or liquidity ratios.
Material Changes
The primary material event is the pricing of the public offering. The company expects to utilize the net proceeds to:
- Repay amounts outstanding under its senior credit facility.
- Make new investments in portfolio companies.
- Fund general corporate purposes.
Guidance, Outlook, and Risks
The filing includes standard forward-looking statements regarding the offering and future performance. Management notes that actual results may differ materially due to various risks and uncertainties described in other SEC filings. The company explicitly states it undertakes no duty to update forward-looking statements. The offering is subject to customary closing conditions.
Investor Verification Checklist
- Verify the final closing date and total shares sold, including any exercise of the over-allotment option.
- Confirm the exact amount of net proceeds received after underwriting fees and expenses.
- Review subsequent filings to determine the specific portion of proceeds applied to debt repayment versus new investments.
- Check for any changes in the senior credit facility terms following the repayment.