MidCap Financial completed an equity offering of more than $300 million. This offering is part of a strategy to enhance MidCap Financial’s financial flexibility as a capital provider to the middle market.
“We are gratified by the confidence a broad range of investors showed in MidCap by participating in this equity raise,” Steve Curwin, CEO of MidCap Financial Services, said. “We believe the defensive nature of our portfolio and the cycle tested experience of our management team combined with the support and resources of Apollo drove strong interest in the equity offering. We expect to continue to drive strong returns for our investors as we support our borrowers through his crisis.”
“MidCap entered this COVID-19 crisis period with a strong balance sheet, diverse set of borrowers and long standing relationships with a large variety of capital providers,” Howard Widra, senior partner and global head of direct origination for Apollo Global Management, said. “We believe it was prudent to further strengthen the balance sheet with additional capital to continue to support borrowers during this unprecedented time. In addition, as a result of this capital raise, we also believe MidCap is well positioned to serve even more great companies in all stages of growth or transition and be one of leading providers of capital in the next cycle.”
MidCap Financial is a middle market-focused, specialty finance firm that provides senior debt solutions.
