QUOTE AND NEWS
newratings.com  May 19  Comment 
WASHINGTON (dpa-AFX) - HC2 Holdings, Inc. (HCHC) announced it has sent a letter to MCG Capital Corporation (MCGC) again proposing an agreement for HC2 to acquire MCG. HC2's proposal is to acquire 100% of the common stock of MCGC on...
newratings.com  May 4  Comment 
WASHINGTON (dpa-AFX) - HC2 Holdings Inc. (HCHC) announced that it has sent a letter to MCG Capital Corporation proposing to acquire 100% of the common stock of MCGC on a fully-diluted basis in a cash and stock transaction in which stockholders of...
Forbes  Apr 29  Comment 
PennantPark Floating Rate Capital, a business-development company, announced plans today to expand its portfolio through the acquisition of MCG Capital, a struggling lender to middle-market companies that had taken steps to wind down its portfolio.
Benzinga  Apr 29  Comment 
GoPro Inc (NASDAQ: GPRO) shares surged 11.74 percent to $52.54 in pre-market trading after the company reported upbeat results for the first quarter. MCG Capital Corp (NASDAQ: MCGC) shares rose 10.73 percent to $4.54 in pre-market trading. MCG...
Benzinga  Apr 29  Comment 
Benzinga  Apr 29  Comment 
Agreement And Plan Of Merger With PennantPark Floating Rate Capital Ltd PennantPark Floatg Rt Cap Says PFLT stockholders to Own 56% of Combined Company, MCGC Stockholders 44% PennantPark Floatg Rt Cap Says Transaction Expected to Close...
Benzinga  Dec 9  Comment 
MCG Capital Corporation (Nasdaq: MCGC) ("MCG" or the "Company") today announced the final results of its modified "Dutch Auction" tender offer, which expired at 5:00 p.m., New York City time, on Wednesday, December 3, 2014. Based on the final...
TheStreet.com  Nov 3  Comment 
Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.  TheStreet Ratings quantitative algorithm...
Forbes  Oct 30  Comment 
MCG Capital, a commercial finance company that lends to middle market companies, announced yesterday it was winding down its portfolio and buying back its stock with asset sale proceeds.




 
TOP CONTRIBUTORS

MCG Capital Corporation (MCGC) is a business development company that primarily provides capital to support the internal growth and corporate development initiatives of small- to medium-sized private companies in domestic growth industries such as media, communications, information services, and technology. Originally consisting of the media communications lending group of Signet Bank (which was acquired by First Union in November 1997 and later merged into Wachovia), MCG was bought by management and affiliates of Goldman Sachs in June 1998 and went public in December 2001.

MCG is a non-diversified, internally managed, closed-end investment company that has elected to be treated as a business development company (BDC) under the Investment Company Act of 1940 (which means among other things that it is required to invest at least 70% of its assets in private or thinly-traded public U.S. companies). MCG has also elected to be treated as a regulated investment company (RIC) for federal income tax purposes, which requires it to pay out the vast majority of its earnings each year.

MCGC's strategy is to use its in-depth knowledge and expertise in particular sectors to identify attractive companies in which to invest, providing funding primarily in the form of senior secured commercial loans, and, to a lesser extent, subordinated debt and equity investments.




References

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