Monroe Capital LLC has sponsored MCAP Acquisition Corporation, a special purpose acquisition company.
MCAP may pursue an initial business combination target in any business, industry or sector, but it intends to capitalize on the differentiated ability of Monroe’s manager to source, acquire and manage software, technology-enabled, and business services companies. MCAP announced the pricing of its upsized initial public offering of 27,500,000 units at a price of $10.00 per unit. MCAP’s units are listed on the Nasdaq Stock Market and started trading under the symbol “MACQU.” Once the securities comprising the units begin separate trading, the company expects that its Class A common stock and warrants will be listed on the Nasdaq and trade under the symbols “MACQ” and “MACQW,” respectively.
MCAP is led by CEO and chairman Theodore Koenig, who is also president, CEO and founder of Monroe Capital . He is joined by co-president Zia Uddin, who is a partner at Monroe Capital; co-president Mark Solovy, who serves as a managing director and co-head of the technology finance group at Monroe Capital; and CFO Scott Marienau, who is the CFO of Monroe Capital’s management company.
“We are excited to offer a SPAC as another vehicle for Monroe’s investment platform,” Koenig stated. “It will offer a different and compelling way for our clients to go public versus a traditional IPO. The SPAC will offer non-control, minority investment for a company looking to fund growth and acquisitions.”