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  "documentTitle": "Main Street Capital | Investor Day Presentation Deck | 155 slides",
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  "presentationDate": "2023-06-01 00:00:00",
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  "notes": "The slide outlines the company's approach to capital structure and regulatory compliance.",
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      "text": "Currently operating at a more conservative position outside of those ranges due to the current economic backdrop and market volatility",
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      "text": "An additional benefit is to provide MAIN with the flexibility to grow our investment portfolio under periods of robust net originations, when market conditions may not allow us to raise additional equity capital at a pace which keeps up with our investment activity",
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      "text": "In such an event, MAIN will accelerate equity issuances in the current and future quarters based upon such investment activities to adjust its leverage position back to its long-term targets",
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      "text": "MAIN's long-term leverage targets include a regulatory asset coverage ratio(1) between 2.25x to 2.1x and a regulatory debt to NAV ratio(1) between 0.8x to 0.9x",
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      "text": "In May 2022, MAIN received Board and Stockholder approval to reduce its minimum regulatory asset coverage ratio(1) from 200% to 150%; Our primary goal in obtaining the reduced minimum regulatory asset coverage ratio(1) is to provide us greater operational flexibility during times of significant macro disruptions",
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      "text": "MAIN's leverage position could flex to a regulatory asset coverage ratio(1) of ~ 2.0x and a regulatory debt to NAV ratio(1) of ~ 1.0x on a temporary basis under certain conditions (such as periods of robust originations coupled with lower than expected repayments and/or lower ATM equity issuance)",
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      "text": "(1) SBIC Debentures are not included as “senior debt” for purposes of the BDC asset coverage requirements pursuant to exemptive relief received by MAIN; Debt calculated based on par value of debt",
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      "text": "MAIN's Target Leverage",
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