MSC Income Fund To Make NYSE Debut

MSC Income Fund, Inc., a nontraded BDC, intends to list on the NYSE under the symbol "MSIF" sometime this year, subject to a notice of issuance. This legacy BDC launched in 2012 and is managed by a wholly owned subsidiary of Main Street.

Per a filing yesterday, MSC Income is also contemplating a public offering of shares in conjunction with the listing of its nontraded shares. The Fund intends to shift focus entirely to its Private Loan investment strategy. 

To support the listing, the Fund intends to utilize a share repurchase program for up to $65 million of its common stock, with Main Street intending to purchase up to an additional $20 million of common stock via a stock purchase plan.

Legacy shareholders have long awaited full cycle liquidity in this nontraded BDC. It will be interesting to watch how the market receives this smaller version of the MAIN BDC that continues to trade into new highs against a favorable macro backdrop. 

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