Main Street Announces $9.2M Investment in Glowpoint
Main Street Capital Corporation (NYSE: MAIN) announced today that it recently closed a new portfolio investment totaling $9.2 million of invested capital in Glowpoint, Inc. (NYSE: GLOW) ("Glowpoint"). Main Street's investment in Glowpoint consists of $9.0 million in first lien senior, secured term debt and $0.2 million funded on a $2.0 million revolving credit facility. Main Street previously completed a $3.75 million indirect investment in Glowpoint's common equity. The proceeds of Main Street's debt investment enabled Glowpoint to refinance its current senior debt obligations and provided additional working capital to the company. Main Street's investments in Glowpoint represent Main Street's second investment to partner with Glowpoint's executive management team.
Glowpoint is a leading provider of cloud managed video collaboration, network, and support services to large enterprises and mid-sized companies to support their unified communications strategies and business goals. More than 1,000 organizations in 96 countries rely on its unmatched experience, business-class support and cloud-based services to collaborate with colleagues, business partners, and customers more effectively. Glowpoint was founded in 1991 and is headquartered in Murray Hill, New Jersey.
ABOUT MAIN STREET CAPITAL CORPORATIONMain Street (www.mainstcapital.com) is a principal investment firm that provides