Form 8-K

8-K — MidCap Financial Investment Corp

Accession: 0001193125-26-209081

Filed: 2026-05-06

Period: 2026-05-06

CIK: 0001278752

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — d33058d8k.htm (Primary)

EX-99.1 (d33058dex991.htm)

GRAPHIC (g33058g35i79.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: d33058d8k.htm · Sequence: 1

8-K

MidCap Financial Investment Corp false 0001278752 0001278752 2026-05-06 2026-05-06 0001278752 us-gaap:CommonStockMember 2026-05-06 2026-05-06 0001278752 us-gaap:DeferrableNotesMember 2026-05-06 2026-05-06

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 6, 2026

MidCap Financial Investment Corporation

(Exact name of Registrant as specified in its charter)

Maryland

814-00646

52-2439556

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(I.R.S. Employer

Identification No.)

9 West 57th Street

New York, New York

10019

(Address of principal executive offices)

(Zip Code)

(Registrant’s telephone number, including area code): (212) 515-3200

None

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange

on which registered

Common Stock, $0.001 par value

MFIC

NASDAQ Global Select Market

8.00% Notes due 2028

MFICL

NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02.

Results of Operations and Financial Condition.

On May 6, 2026, MidCap Financial Investment Corporation (the “Company”) issued a press release announcing its financial results for the quarter ended March 31, 2026. A copy of the press release is furnished herewith as Exhibit 99.1.

The information disclosed under this Item 2.02, including Exhibit 99.1 hereto, is being “furnished” and is not deemed “filed” by the Company for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor is it deemed incorporated by reference into any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01.

Financial Statements and Exhibits.

(d) Exhibits

Exhibit

Number

Exhibit

99.1

Press Release of MidCap Financial Investment Corporation, dated May 6, 2026.

104

Cover page interactive Data File (embedded within inline XBRL Document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

MIDCAP FINANCIAL INVESTMENT CORPORATION

By:

/s/ Kristin M. Hester

Name:

Kristin M. Hester

Title:

Chief Legal Officer and Secretary

Date: May 6, 2026

EX-99.1

Filename: d33058dex991.htm · Sequence: 2

EX-99.1

Exhibit 99.1

MidCap Financial Investment Corporation

Reports Financial Results for the Quarter Ended March 31, 2026

Results for the Quarter Ended March 31, 2026, and Other Recent Highlights:

•

Net investment income per share for the quarter was $0.38, compared to $0.39 for the quarter ended

December 31, 2025

•

Net asset value (“NAV”) per share as of the end of the quarter was $13.82, compared to $14.18 as

of December 31, 2025, representing a 2.5% decrease. The decline was driven by a net loss on the portfolio, primarily reflecting the impact of broader credit spread widening and credit weakness on certain positions partially offset by the

accretive impact of stock buybacks below NAV and net investment income in excess of the dividend

•

New investment commitments made during the quarter totaled $50 million(1)

•

Gross fundings, excluding revolver fundings,(2) totaled

$68 million for the quarter

•

Net repayments, including revolvers(2) totaled

$142 million for the quarter, including a $22 million repayment from Merx reducing the position to 2.7% of the total portfolio, as of quarter-end

•

Net leverage(3) was 1.55x as of March 31, 2026

•

Repurchased 7,084,020 shares of common stock at a weighted average price per share of $10.73, inclusive of

commissions, for an aggregate cost of $76.0 million during the quarter, generating $0.24 per share of NAV accretion

•

From April 1, 2026, through April 13, 2026, the Company (as defined below) repurchased 2,755,221

shares of common stock at a weighted average price per share of $11.58, inclusive of commissions, for a total cost of $31.9 million, which fully utilized the existing capacity under the share repurchase program

•

On May 5, 2026, the Company’s Board of Directors (the “Board”) declared a dividend of

$0.31 per share payable on June 25, 2026, to stockholders of record as of June 9, 2026(4)

New York, NY — May 6, 2026 — MidCap Financial Investment Corporation (NASDAQ: MFIC) or the

“Company,” today announced financial results for the quarter ended March 31, 2026. The Company’s net investment income was $0.38 per share for the quarter ended March 31, 2026, compared to $0.39 per share for the quarter

ended December 31, 2025. The Company’s NAV was $13.82 per share as of March 31, 2026, compared to $14.18 as of December 31, 2025.

May 5, 2026, the Board declared a quarterly dividend of $0.31 per share payable on June 25, 2026, to stockholders of record as of June 9, 2026.

Commenting on the Company’s results for the first quarter of 2026, Mr. Tanner Powell, Chief Executive Officer, stated, “As discussed last

quarter, given the size of the stock’s discount to NAV, we prioritized allocating capital toward stock repurchases rather than deploying capital into new investments during the quarter. While NAV per share declined due to portfolio

losses, the impact was partially offset by the accretive impact of stock buybacks executed below NAV and net investment income in excess of the dividend. Our net loss for the quarter was driven by a combination of unrealized valuation

adjustments reflecting broader credit spread widening, as well as credit weakness in certain positions. We believe that the Company’s fee structure is one of the most attractive fee structures among listed BDCs that is meaningfully aligned

with stockholders and helps mitigate the impact of losses.”

(1)

Commitments made for the direct origination portfolio.

(2)

During the quarter ended March 31, 2026, direct origination revolver fundings totaled $33 million,

direct origination revolver repayments totaled $32 million and Merx Aviation Finance, LLC repaid $22.0 million.

(3)

The Company’s net leverage ratio is defined as debt outstanding plus payable for investments purchased,

less receivable for investments sold, less cash and cash equivalents, less foreign currencies, divided by net assets.

(4)

There can be no assurances that the Board will continue to declare a base dividend of $0.31 per share.

FINANCIAL HIGHLIGHTS

($ in billions, except per share data)

March 31,

2026

December 31,

2025

September 30,

2025

June 30,

2025

March 31,

2025

Total assets

3.07

3.32

3.31

3.46

3.36

Investment portfolio (fair value)

2.97

3.17

3.18

3.33

3.19

Debt outstanding

1.87

2.00

1.92

2.05

1.94

Net assets

1.18

1.31

1.37

1.38

1.39

Net asset value per share

13.82

14.18

14.66

14.75

14.93

Debt-to-equity

ratio

1.59 x

1.53 x

1.40 x

1.49 x

1.39 x

Net leverage ratio (1)

1.55 x

1.45 x

1.35 x

1.44 x

1.31 x

(1)

The Company’s net leverage ratio is defined as debt outstanding plus payable for investments purchased,

less receivable for investments sold, less cash and cash equivalents, less foreign currencies, divided by net assets.

PORTFOLIO AND

INVESTMENT ACTIVITY

Three Months Ended March 31,

(in millions)*

2026

2025

Investments made in portfolio companies

102.5

391.9

Investments sold

(24.0

)

(43.9

)

Net activity before repaid investments

78.5

348.0

Investments repaid

(220.1

)

(177.6

)

Net investment activity

(141.7

)

170.4

Portfolio companies, at beginning of period

247

233

Number of investments in new portfolio companies

Number of exited companies

(13

)

(13

)

Portfolio companies at end of period

236

240

Number of investments in existing portfolio companies

Totals may not foot due to rounding.

OPERATING RESULTS

Three Months Ended March 31,

(in millions)*

2026

2025

Net investment income

34.3

Net realized and change in unrealized gains (losses)

(61.1

)

(4.0

)

Net increase (decrease) in net assets resulting from operations

(26.9

)

30.3

(per share)* (1)

Net investment income on per average share basis

0.38

0.37

Net realized and change in unrealized gain (loss) per share

(0.67

)

(0.05

)

Earnings per share — basic

(0.30

)

0.32

Totals may not foot due to rounding.

(1)

Based on the weighted average number of shares outstanding for the period presented.

SHARE REPURCHASE PROGRAM*

During the three months ended March 31, 2026, the Company repurchased 7,084,020 shares at a weighted average price per share of $10.73, inclusive of

commissions, for a total cost of $76.0 million. This represents a discount of approximately 23% of the average net asset value per share for the three months ended March 31, 2026.

From April 1, 2026, through April 13, 2026, the Company repurchased 2,755,221 shares of common stock at a weighted average price per share of

$11.58, inclusive of commissions, for a total cost of $31.9 million which fully utilized the existing capacity under the share repurchase program.

Since the inception of the share repurchase program in August 2015 and through May 6, 2026, the Company has approved seven stock repurchase plans, and

repurchased 27.0 million shares of common stock for a total cost of $375.0 million, inclusive of commissions.

Share figures have been adjusted for the

1-for-3 reverse stock split which was completed after market close on November 30, 2018.

LIQUIDITY

As of March 31, 2026, the Company’s outstanding debt obligations, excluding deferred financing cost and debt discount of $5.6 million, totaled

$1.9 billion, which was comprised of $125 million of Senior Unsecured Notes, which will mature on July 16, 2026, $80 million of Senior Unsecured Notes, which will mature on December 15, 2028, $456 million outstanding

secured debt in MFIC Bethesda CLO 1 LLC, $399 million outstanding secured debt in MFIC Bethesda CLO 2 LLC, and $816 million outstanding under the Company’s senior secured, multi-currency, revolving credit facility (the

“Facility” and as amended, the “Amended Senior Secured Facility”). As of March 31, 2026, no standby letters of credit were issued through the Facility. The available remaining capacity under the Facility was

$794 million as of March 31, 2026, which is subject to compliance with a borrowing base that applies different advance rates to different types of assets in the Company’s portfolio.

Borrowings under the Amended Senior Secured Facility (and the incurrence of certain other permitted debt) continue to be subject to compliance with a

borrowing base that applies different advance rates to different types of assets in the Company’s portfolio. The advance rate applicable to any specific type of asset in the Company’s portfolio depends on the relevant asset coverage

ratio as of the date of determination. Borrowings under the Amended Senior Secured Facility continue to be subject to the leverage restrictions contained in the Investment Company Act of 1940, as amended (the “1940 Act”). Terms used in

this disclosure have the meanings set forth in the Amended Senior Secured Facility.

CONFERENCE CALL / WEBCAST AT 8:30 AM EDT ON MAY 7, 2026

The Company will host a conference call on Thursday, May 7, 2026, at 8:30 a.m. Eastern Time. All interested parties are welcome to participate in the

conference call by dialing (800) 343-4849 approximately 5-10 minutes prior to the call; international callers should dial (203)

518-9848. Participants should reference either MidCap Financial Investment Corporation Earnings or Conference ID: MFIC0507 when prompted. A simultaneous webcast of the conference call will be available to the

public on a listen-only basis and can be accessed through the Events Calendar in the Shareholders section of our website at www.midcapfinancialic.com. Following the call, you may access a replay of the event either telephonically or via audio

webcast. The telephonic replay will be available approximately two hours after the live call and through May 28, 2026, by dialing (800) 839-9815; international callers should dial (402) 220-2190. A replay of the audio webcast will also be available later that same day. To access the audio webcast please visit the Events Calendar in the Shareholders section of our website at

www.midcapfinancialic.com.

SUPPLEMENTAL INFORMATION

The Company provides a supplemental information package to offer more transparency into its financial results and make its reporting more informative and

easier to follow. The supplemental package is available in the Shareholders section of the Company’s website under Presentations at www.midcapfinancialic.com.

Our portfolio composition and weighted average yields as of March 31, 2026, December 31, 2025,

September 30, 2025, June 30, 2025 and March 31, 2025 were as follows:

March 31, 2026

December 31,

2025

September 30,

2025

June 30,

2025

March 31,

2025

Portfolio composition, at fair value:

First lien secured debt

Second lien secured debt

Total secured debt

Unsecured debt

Structured products and other

Preferred equity

Common equity/interests and warrants

Weighted average yields, at amortized cost

(1):

First lien secured debt (2)

9.5

9.7

10.2

10.4

10.5

Second lien secured debt (2)

0.0

13.0

13.5

13.7

13.8

Total secured debt (2)

9.5

9.7

10.2

10.4

10.5

Unsecured debt portfolio (2)

11.1

9.5

Total debt portfolio (2)

9.5

9.7

10.2

10.4

10.5

Total portfolio (3)

8.3

8.6

9.0

9.2

9.4

Interest rate type, at fair value

(4):

Fixed rate amount

0.0 billion

Floating rate amount

2.7 billion

2.9 billion

3.0 billion

2.9 billion

Fixed rate, as percentage of total

Floating rate, as percentage of total

100

Interest rate type, at amortized cost

(4):

Fixed rate amount

0.0 billion

Floating rate amount

2.8 billion

2.9 billion

3.0 billion

2.9 billion

Fixed rate, as percentage of total

Floating rate, as percentage of total

100

(1)

An investor’s yield may be lower than the portfolio yield due to sales loads and other expenses.

(2)

Exclusive of investments on non-accrual status.

(3)

Inclusive of all income generating investments, non-income generating

investments and investments on non-accrual status.

(4)

The interest rate type information is calculated using the Company’s corporate debt portfolio and

excludes aviation and investments on non-accrual status.

MIDCAP FINANCIAL INVESTMENT CORPORATION

CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES

(In thousands, except share and per share data)

March 31, 2026

December 31, 2025

(Unaudited)

Assets

Investments at fair value:

Non-controlled/non-affiliated

investments (cost — $2,830,189 and $2,955,713, respectively)

2,654,656

2,819,511

Non-controlled/affiliated investments (cost —

$181,645 and $176,978, respectively)

105,180

107,111

Controlled investments (cost — $201,373 and $224,619, respectively)

211,651

241,216

Cash and cash equivalents

42,626

98,184

Foreign currencies (cost — $101 and $1,286, respectively)

1,264

Receivable for investments sold

6,831

6,253

Interest receivable

23,426

23,678

Dividends receivable

459

630

Deferred financing costs

22,401

23,626

Unrealized appreciation on foreign currency forward contracts

799

—

Prepaid expenses and other assets

1,780

2,171

Total Assets

3,069,872

3,323,644

Liabilities

Debt (net of deferred financing costs and unamortized original discount of $5,612 and $5,838,

respectively)

1,870,388

1,995,210

Payable for investments purchased

211

558

Shares Repurchase Payable

4,082

—

Management fees payable

5,641

6,034

Interest payable

10,729

12,867

Accrued administrative services expense

409

228

Other liabilities and accrued expenses

2,152

1,486

Total Liabilities

1,893,612

2,016,383

Commitments and contingencies (Note 8)

Net Assets

1,176,260

1,307,261

Net Assets

Common stock, $0.001 par value (130,000,000 shares authorized; 85,127,849 and 92,211,869 shares

issued and outstanding, respectively)

Capital in excess of par value

2,576,962

2,652,891

Accumulated under-distributed (over-distributed) earnings

(1,400,787

)

(1,345,722

)

Net Assets

1,176,260

1,307,261

Net Asset Value Per Share

13.82

14.18

MIDCAP FINANCIAL INVESTMENT CORPORATION

CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share data)

Three Months Ended March 31,

2026

2025

Investment Income

Non-controlled/non-affiliated

investments:

Interest income (excluding

Payment-in-kind (“PIK”) interest income)

64,063

69,302

Dividend income

—

PIK interest income

3,373

3,170

Other income

574

324

Non-controlled/affiliated investments:

Interest income (excluding PIK interest income)

912

1,229

Dividend income

252

240

PIK interest income

—

351

Controlled investments:

Interest income (excluding PIK interest income)

2,595

4,072

Other income

—

Total Investment Income

71,827

78,698

Expenses

Management fees

5,641

6,061

Performance-based incentive fees

—

6,433

Interest and other debt expenses

28,479

30,464

Administrative services expense

1,441

1,016

Other general and administrative expenses

2,059

1,248

Total expenses

37,620

45,222

Expense reimbursements

(62

)

(806

)

Net Expenses

37,558

44,416

Net Investment Income

34,269

34,282

Net Realized and Change in Unrealized Gains (Losses)

Net realized gains (losses):

Non-controlled/non-affiliated

investments

(9,300

)

3,588

Non-controlled/affiliated investments

(67

)

(188

)

Foreign currency forward contracts

904

—

Foreign currency transactions

(3,952

)

(313

)

Net realized gains (losses)

(12,415

)

3,087

Net change in unrealized gains (losses):

Non-controlled/non-affiliated

investments

(39,872

)

(6,088

)

Non-controlled/affiliated investments

(6,599

)

(1,509

)

Controlled investments

(6,319

)

1,348

Foreign currency forward contracts

799

Foreign currency translations

3,266

(814

)

Net change in unrealized gains (losses)

(48,725

)

(7,039

)

Net Realized and Change in Unrealized Gains (Losses)

(61,140

)

(3,952

)

Net Increase (Decrease) in Net Assets Resulting from Operations

(26,871

)

30,330

Earnings (Loss) Per Share — Basic

(0.30

)

0.32

Important Information

Investors are advised to carefully consider the investment objective, risks, charges and expenses of the Company before investing. The Company’s

filings with the Securities and Exchange Commission (“SEC”), including annual reports on Form 10-K and quarterly reports on Form 10-Q, contain this and other

information about the Company and should be read carefully before investing. You may obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov.

The information in this announcement is not complete and may be changed. This communication shall not constitute an offer to sell or the solicitation of an

offer to buy nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other

jurisdiction.

Past performance is not indicative of, or a guarantee of, future performance. The performance and certain other portfolio

information quoted herein represents information as of dates noted herein. Nothing herein shall be relied upon as a representation as to the future performance or portfolio holdings of the Company. Investment return and principal value of an

investment will fluctuate, and shares, when sold, may be worth more or less than their original cost. The Company’s performance is subject to change since the end of the period noted in this report and may be lower or higher than the

performance data shown herein.

About MidCap Financial Investment Corporation

MidCap Financial Investment Corporation (NASDAQ: MFIC) is a closed-end, externally managed, diversified management

investment company that has elected to be treated as a business development company under the 1940 Act. For tax purposes, the Company has elected to be treated as a regulated investment company under Subchapter M of the Internal Revenue Code of

1986, as amended. The Company is externally managed by Apollo Investment Management, L.P., an affiliate of Apollo Global Management, Inc. and its consolidated subsidiaries, a high-growth global alternative asset manager. The Company’s

investment objective is to generate current income and, to a lesser extent, long-term capital appreciation. The Company primarily invests in directly originated and privately negotiated first lien senior secured loans to privately held U.S.

middle-market companies, which the Company generally defines as companies with less than $75 million in earnings before interest, taxes, depreciation and amortization, as may be adjusted for market disruptions, mergers and acquisitions-related

charges and synergies, and other items. To a lesser extent, the Company may invest in other types of securities including, first lien unitranche, second lien senior secured, unsecured, subordinated, and mezzanine loans, and equities in both private

and public middle market companies. For more information, please visit www.midcapfinancialic.com

Forward-Looking Statements

Some of the statements in this press release constitute forward-looking statements because they relate to future events, future performance or financial

condition. The forward-looking statements may include statements as to: future operating results of MFIC and distribution projections; business prospects of MFIC, and the prospects of its portfolio companies, if applicable; and the impact of the

investments that MFIC expects to make. In addition, words such as “anticipate,” “believe,” “expect,” “seek,” “plan,” “should,” “estimate,” “project” and

“intend” indicate forward-looking statements, although not all forward-looking statements include these words. The forward-looking statements contained in this press release involve risks and uncertainties. Certain factors could cause

actual results and conditions to differ materially from those projected, including the uncertainties associated with: future changes in laws or regulations (including the interpretation of these laws and regulations by regulatory authorities);

changes in general economic conditions, including the impact of supply chain disruptions, tariffs and trade disputes with other countries, or changes in financial markets, and the risk of recession; changes in the interest rate environment and

levels of general interest rates and the impact of inflation; the return on equity; the yield on investments; the ability to borrow to finance assets; new strategic initiatives; the ability to reposition the investment portfolio; the market outlook;

future investment activity; and risks associated with changes in business conditions and the general economy. MFIC has based the forward-looking statements included in this press release on information available to it on the date hereof, and assumes

no obligation to update any such forward-looking statements. Although MFIC undertakes no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise, you are advised to consult

any additional disclosures that they may make directly to you or through reports that MFIC in the future may file with the SEC, including annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K.

Contact

Elizabeth Besen

Investor Relations Manager

MidCap Financial Investment Corporation

212.822.0625

ebesen@apollo.com

GRAPHIC

Filename: g33058g35i79.jpg · Sequence: 7

Binary file (8942 bytes)

Download g33058g35i79.jpg

XML — IDEA: XBRL DOCUMENT

XML

Filename: R1.htm · Sequence: 9

v3.26.1

Document and Entity Information

May 06, 2026

Document And Entity Information [Line Items]

Entity Registrant Name

MidCap Financial Investment Corp

Amendment Flag

false

Entity Central Index Key

0001278752

Document Type

8-K

Document Period End Date

May 06, 2026

Entity Incorporation State Country Code

Entity File Number

814-00646

Entity Tax Identification Number

52-2439556

Entity Address, Address Line One

9 West 57th Street

Entity Address, City or Town

New York

Entity Address, State or Province

Entity Address, Postal Zip Code

10019

City Area Code

(212)

Local Phone Number

515-3200

Written Communications

false

Soliciting Material

false

Pre Commencement Tender Offer

false

Pre Commencement Issuer Tender Offer

false

Entity Emerging Growth Company

false

Common Stock [Member]

Document And Entity Information [Line Items]

Security 12b Title

Common Stock, $0.001 par value

Trading Symbol

MFIC

Security Exchange Name

NASDAQ

Deferrable Notes [Member]

Document And Entity Information [Line Items]

Security 12b Title

8.00% Notes due 2028

Trading Symbol

MFICL

Security Exchange Name

NASDAQ

- Definition

Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.

+ References

No definition available.

+ Details

Name:

dei_AmendmentFlag

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Area code of city

+ References

No definition available.

+ Details

Name:

dei_CityAreaCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.

+ References

No definition available.

+ Details

Name:

dei_DocumentPeriodEndDate

Namespace Prefix:

dei_

Data Type:

xbrli:dateItemType

Balance Type:

Period Type:

duration

- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

+ References

No definition available.

+ Details

Name:

dei_DocumentType

Namespace Prefix:

dei_

Data Type:

dei:submissionTypeItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 1 such as Attn, Building Name, Street Name

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine1

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the City or Town

+ References

No definition available.

+ Details

Name:

dei_EntityAddressCityOrTown

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Code for the postal or zip code

+ References

No definition available.

+ Details

Name:

dei_EntityAddressPostalZipCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the state or province.

+ References

No definition available.

+ Details

Name:

dei_EntityAddressStateOrProvince

Namespace Prefix:

dei_

Data Type:

dei:stateOrProvinceItemType

Balance Type:

Period Type:

duration

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityCentralIndexKey

Namespace Prefix:

dei_

Data Type:

dei:centralIndexKeyItemType

Balance Type:

Period Type:

duration

- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityEmergingGrowthCompany

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

dei_

Data Type:

dei:fileNumberItemType

Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

Name:

dei_EntityIncorporationStateCountryCode

Namespace Prefix:

dei_

Data Type:

dei:edgarStateCountryItemType

Balance Type:

Period Type:

duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityRegistrantName

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

dei_

Data Type:

dei:employerIdItemType

Balance Type:

Period Type:

duration

- Definition

Local phone number for entity.

+ References

No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

+ Details

Name:

dei_PreCommencementIssuerTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

+ Details

Name:

dei_PreCommencementTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

+ Details

Name:

dei_Security12bTitle

Namespace Prefix:

dei_

Data Type:

dei:securityTitleItemType

Balance Type:

Period Type:

duration

- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

dei_

Data Type:

dei:edgarExchangeCodeItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

dei_

Data Type:

dei:tradingSymbolItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

+ Details

Name:

dei_WrittenCommunications

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- References

No definition available.

+ Details

Name:

mficl_DocumentAndEntityInformationLineItems

Namespace Prefix:

mficl_

Data Type:

xbrli:stringItemType

Balance Type:

Period Type:

duration

- Details

Name:

us-gaap_StatementClassOfStockAxis=us-gaap_CommonStockMember

Namespace Prefix:

Data Type:

Balance Type:

Period Type:

- Details

Name:

us-gaap_StatementClassOfStockAxis=us-gaap_DeferrableNotesMember

Namespace Prefix:

Data Type:

Balance Type:

Period Type: