MidCap Financial Investment Corporation has announced that it will not hold its scheduled earnings conference call for the third quarter of 2026. This decision comes in light of the company entering into a definitive merger agreement with Ares Capital Corporation, under which Ares Capital will acquire MidCap Financial. The cancellation of the call indicates a significant shift in MidCap's operations and future direction.

The merger agreement marks a pivotal moment for MidCap Financial, as it aligns with Ares Capital's strategy to expand its portfolio in the business development sector. By not holding the earnings call, MidCap is signaling that it is prioritizing the merger process over its usual financial communications. The company will still issue its financial results for the quarter ended September 30, 2026, as originally scheduled on November 5, 2026, before the opening of the Nasdaq Global Select Market.

Background

MidCap Financial Investment Corporation, trading under the ticker symbols MFIC and MFICL on Nasdaq, is a closed-end, externally managed investment company that has elected to be treated as a business development company (BDC) under the Investment Company Act of 1940. The company primarily invests in first lien senior secured loans to U.S. middle-market companies. It is managed by Apollo Investment Management, L.P., an affiliate of Apollo Global Management, Inc.

Ares Capital Corporation, also known as ARCC, is a leading specialty finance company that focuses on providing direct loans and investments in private middle-market companies. It has established itself as a significant player in the BDC space, known for its extensive direct origination capabilities and relationships with borrowers.

What the Filing Says

According to the SEC filing, "MidCap Financial Investment Corporation announced today that, in light of entering into a definitive merger agreement with Ares Capital Corporation, it will not hold the third quarter 2026 earnings conference call and webcast previously scheduled for Thursday, November 5, 2026, at 8:30 a.m. Eastern Time." The filing confirms that MidCap will still issue its quarterly results as planned.

Impact

This merger is expected to affect various stakeholders, including shareholders of both MidCap and Ares Capital. MidCap's stockholders will need to approve the merger, and the transaction will likely require regulatory approvals. The merger could also influence the competitive landscape in the business development sector, as larger firms consolidate to enhance their market positions.

What's Next

The filing does not say what happens next, but it indicates that shareholders will be involved in the approval process for the merger. Additionally, Ares Capital is expected to file a registration statement with the SEC, which will include a proxy statement and prospectus related to the transaction.