July 28, 2016 1:02 AM ET

Capital Markets

Company Overview of MCG Capital Corporation

Company Overview

MCG Capital Corporation is a private equity firm specializing in debt, equity, and recapitalization investments in middle and lower middle market companies. The firm seeks to invest in small to mid sized companies. It does not prefer lead and control equity investments. The firm seeks to invest in communications, information services, media, and technology industry sectors. It typically invests in private companies based in the United States. The firm seeks to invest up to $25 million in debt and equity in companies having EBITDA between $3 million and $15 million and sales total less than $150 million. It seeks to invest in the form of senior secured loans, including revolvers and term loan...

1001 19th Street North

10th Floor

Arlington, VA 22209

United States

Founded in 1998

5 Employees

Phone:

703-247-7500

Fax:

703-247-7505

Key Executives for MCG Capital Corporation

Chief Executive Officer
Age: 53
Chief Financial Officer
Age: 52
Principal and Head of Investment Management
Portfolio Manager and Assistant Vice President
Vice President of Sponsorship & Underwriting
Compensation as of Fiscal Year 2016.

MCG Capital Corporation Key Developments

MCG Capital Corporation Announces Management Departures

On August 18, 2015, PennantPark Floating Rate Capital Ltd. completed its acquisition of MCG Capital Corporation. On August 18, 2015, in connection with the transactions contemplated by the merger agreement, each of the following individuals departed the MCG Capital Corporation and was no longer a director and/or officer of the company: Keith Kennedy, Director, President and Chief Executive Officer; Richard W. Neu, Director, Chairman of the Board; Kim D. Kelly, Director; Kenneth J. O'Keefe, Director; Gavin Saitowitz, Director; Tod Reichert, General Counsel, Chief Compliance Officer, Corporate Secretary and Executive Vice President; and Jane Alley (Interim Chief Financial Officer, Chief Accounting Officer and Treasurer. The officers of PFLT Funding II are Arthur H. Penn, Chief Executive Officer, and Aviv Efrat, Chief Financial Officer.

MCG Capital Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the 2015

MCG Capital Corporation reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company’s total interest and dividend income was $1,290,000 against $8,763,000 a year ago. Total revenue was $1,633,000 against $9,525,000 a year ago. Net operating loss before net investment loss and income tax provision was $177,000 against net operating income before net investment income and income tax provision of $551,000 a year ago. Total net realized loss on investments was $159,344,000 against $4,232,000 a year ago. Net loss was $150,000 against $5,268,000 a year ago. For the six months, the company’s total interest and dividend income was $3,010,000 against $18,018,000 a year ago. Total revenue was $3,587,000 against $18,871,000 a year ago. Net operating loss before net investment loss, loss on extinguishment of debt and income tax provision was $464,000 against net operating income before net investment income and income tax provision of $4,874,000 a year ago. Total net realized loss on investments was $159,073,000 against $8,720,000 a year ago. Net income was $1,149,000 against net loss of $24,204,000 a year ago. Income per basic and diluted common share was $0.03 against loss per basic and diluted common share of $0.37 a year ago. Net asset value per common share was $4.75 against $4.69 a year ago. Net cash provided by operating activities was $47,044,000 against $154,278,000 a year ago. The company expects the company’s cash per share to increase in 2015 as investments monetize.

MCG Capital Corporation, Special/Extraordinary Shareholders Meeting, Aug 14, 2015

MCG Capital Corporation, Special/Extraordinary Shareholders Meeting, Aug 14, 2015. Agenda: To consider the proposal to approve the merger of PFLT Panama, LLC with and into MCG, followed immediately and as a single integrated transaction by the merger of MCG with and into PFLT Funding II, LLC, and to approve the Merger Agreement; and to consider the proposal to approve the adjournment of the Special Meeting, if necessary or appropriate, to solicit additional proxies, if there are not sufficient votes at the time of the Special Meeting to approve the foregoing proposal.

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