MSC Income Fund, Inc. (MSIF) commenced trading its common stock on the New York Stock Exchange (NYSE) on January 29, 2025, under the ticker symbol 'MSIF'. This listing follows the company's previously announced plans to become a publicly traded entity, providing increased market access and liquidity.
Concurrently with the NYSE listing, MSC Income Fund entered into an Amended and Restated Investment Advisory and Administrative Services Agreement with its investment adviser, MSC Adviser I, LLC. This amended agreement includes several favorable adjustments to the fee structure, such as a reduction in annual base management fees to 1.5% of average total assets and a reduction in the subordinated incentive fee on income to 17.5%. These changes are expected to lower the company's operating expenses.
On the same date, January 29, 2025, the Fund's Board of Directors unanimously approved the application of modified regulatory asset coverage requirements. This approval will effectively double the Fund's total leverage capacity on January 29, 2026, providing a clear path for significant future portfolio expansion and potential for increased net investment income.
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