MCG Capital Corporation (MCGC) announces a $75mm tender offer (up to 53% of S/O!)

MCG Capital Corporation (MCGC) announced that it expects to commence a modified “Dutch Auction” tender offer for up to $75mm of its common stock at a price per share of $3.25-$3.75. The tender offer is expected to commence on 11/3 and to expire on 12/3. If $75mm is tendered the company would repurchase ~53% of its S/O. Source: Filing