---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-432622"
form_type: "8-K"
ticker: "MFIC"
cik: "0001278752"
company_name: "MidCap Financial Investment Corp"
filed_at: "2026-10-27T10:40:49+00:00"
generated_at: "2026-10-27T10:45:12.366280+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# Ares Capital to acquire MFIC in $2.6B stock-and-cash deal at $10.88/share, 30.1% premium

## Summary
- ARCC will acquire MFIC in a stock-and-cash merger with ~$2.6B enterprise value; MFIC holders get $10.88 per diluted share, $1.21 cash plus $9.67 ARCC stock.
- Consideration is a 30.1% premium to MFIC's Oct. 26, 2026 close and 25.8% to its 30-day VWAP; MFIC's preliminary Sept. 30 NAV per share is ~$12.86.
- MFIC will pay a pre-closing special dividend of undistributed taxable income; ARCC stock consideration is reduced dollar-for-dollar, with exchange ratio tied to ARCC NAV and share price.
- Expected closing in first half of 2027, subject to MFIC stockholder approval, HSR clearance, N-14 effectiveness and NASDAQ listing; MFIC's termination fee is $31.36M.
- Apollo affiliates holding ~5.2% of MFIC signed voting agreements backing the deal; ARCC expects modest core-EPS accretion and pro forma >800 portfolio companies, >$31B investments.

## SEC filing metadata
- accession: 0001193125-26-432622
- form_type: 8-K
- ticker: MFIC
- cik: 0001278752
- company_name: MidCap Financial Investment Corp
- filed_at: 2026-10-27T10:40:49+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 1.01, 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1278752/000119312526432622/0001193125-26-432622-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1278752/000119312526432622/d115048d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-432622
- JSON: https://secwatch.observer/filing/0001193125-26-432622.json
- Plain text: https://secwatch.observer/filing/0001193125-26-432622.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.