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  "documentTitle": "Main Street Capital | Fixed Income Presentation Deck | 42 slides",
  "authorId": "main-street-capital",
  "authorName": "Main Street Capital Corporation",
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  "presentationDate": "2023-05-01 00:00:00",
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  "pageNumber": 21,
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  "notes": "The slide highlights the strategic advantages of an ATM program over traditional overnight equity offerings, including cost savings and NAV accretion.",
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      "kind": "disclaimer",
      "text": "(1) Through March 31, 2023 (2) Assumes 6% all-in cost for traditional overnight equity offering",
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      "text": "ATM Equity Program provides efficient and low cost access to equity capital. Provides access to equity capital to match growth of LMM investments on an as-needed basis. Provides significant economic cost savings compared to traditional overnight equity offerings.",
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      "text": "Provides significant benefits vs traditional overnight equity offerings: Provides equity capital and liquidity on an as-needed basis, avoiding dilution from larger overnight equity offerings. Provides equity capital at significantly lower cost. Avoids negative impact to stock price.",
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      "text": "Provides permanent capital to match indefinite or long-term holding period for LMM investments. Facilitates maintenance of conservative leverage position. Issued equity is accretive to NAV per share.",
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      "text": "Raised net proceeds of $869.7 million since inception in 2015. Average sale price is approximately 62% above average NAV per share. Resulted in economic cost savings of approximately $43.9 million.",
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      "kind": "title",
      "text": "At-The-Market (ATM) Equity Program",
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