Recent Updates — MFIC

Ares Capital Corporation has entered into a definitive merger agreement to acquire MidCap Financial Investment Corporation in an all-stock-and-cash transaction valued at approximately $2.6 billion. Under the terms, MFIC shareholders will receive total consideration of $10.88 per fully diluted share, consisting of $1.21 in cash and shares of Ares Capital common stock worth approximately $9.67. The deal represents a 30.1% premium to MFIC's last closing price and is expected to close in the first half of 2027, subject to shareholder approval and regulatory conditions. MidCap Financial Investment Corporation operates as a business development company investing in middle-market companies.

MidCap Financial Investment Corp reported financial results for the quarter ended June 30, 2026, announcing net investment income of $0.40 per share and a net asset value (NAV) decline of 3.2% to $13.37 per share due to credit-related portfolio losses. The company repurchased 2,755,221 shares for $31.9 million, fully utilizing its existing buyback capacity, while recording $6 million in new investment commitments and $21 million in gross fundings. On August 5, 2026, the Board declared a quarterly cash dividend of $0.31 per share, payable on September 24, 2026, to stockholders of record as of September 8, 2026. MidCap Financial Investment Corp is a closed-end business development company that primarily invests in directly originated first lien senior secured loans to privately held U.S. middle-market companies.