SUBSEQUENT EVENTS |
12 Months Ended |
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Dec. 31, 2023 | |
| Subsequent Events [Abstract] | |
| SUBSEQUENT EVENTS | SUBSEQUENT EVENTS On January 31, 2024, the Company sold 314,070 shares of its common stock to Main Street at $7.96 per share,
the price at which the Company issued new shares in connection with reinvestments of the January 31, 2024 dividend
pursuant to the DRIP, for total proceeds to the Company of $2.5 million. The issuance and sale were made pursuant to the
exemption from registration under Section 4(a)(2) of the Securities Act and were unanimously
approved by the Board of Directors, including each director who is not an “interested person,” as such term is defined in
Section 2(a)(19) of the 1940 Act, of the Company or the Adviser.
On January 31, 2024, MSC Income Fund repurchased 518,173 shares of its common stock validly tendered and not withdrawn on the terms set forth in the tender offer statement on Schedule TO and Offer to Purchase filed with the SEC on December 21, 2023. The shares were repurchased at a price of $7.81 per share, which was MSC Income Fund’s NAV per share as of January 31, 2024, for an aggregate purchase price of $4.0 million (an amount equal to 90% of the proceeds MSC Income Fund received from the issuance of shares under MSC Income Fund’s DRIP from the January 31, 2024 dividend payment).
On February 5, 2024, MSC Income Fund commenced a modified “Dutch Auction” tender offer (the “February Dutch Auction Tender Offer”) pursuant to the Offer to Purchase, dated February 5, 2024, which expired on March 4, 2024. Pursuant to the February Dutch Auction Tender Offer, MSC Income Fund repurchased 357,143 shares on March 8, 2024, at a price of $7.00 per share for an aggregate cost of $2.5 million, excluding fees and expenses related to the February Dutch Auction Tender Offer.
On March 7, 2024, the Board of Directors declared a quarterly cash dividend of $0.185 per share payable May 1, 2024 to stockholders of record as of March 29, 2024. Additionally, the Board of Directors approved a repurchase offer pursuant to the Company’s share repurchase program in an amount equal to 90% of the proceeds resulting from shares issued in lieu of cash distributions from the May 1, 2024 dividend payment.
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