Prospect Capital Purchases $80 Million of First Lien Senior Secured Floating Rate Notes and Revolving Credit Issued by Eze Ca...
June 04 2018 - 11:00AM
Prospect Capital Corporation (NASDAQ:PSEC) (“Prospect”) announced
today that Prospect has purchased $75 million of first lien senior
secured floating rate notes and $5 million of revolving credit
issued to support the acquisition of Eze Castle Integration, LLC
(“ECI”) by affiliates of H.I.G. Capital, LLC (“H.I.G.”).
Headquartered in Boston and founded in 1995, ECI
is a leading provider of managed services and technology solutions
to the alternative investment manager and other end user industry
markets. ECI delivers premier solutions that meet the high-end
technology requirements of its financial services, legal, and other
diversified clients. ECI’s comprehensive product and service
offerings include private and hybrid cloud solutions, technology
consulting, outsourced IT support, cybersecurity, business
protection, private connectivity, and telecommunications.
“We appreciate the creativity and certainty
Prospect provided through its flexible, one-stop capital solution,”
said Caroline Kung, Principal of H.I.G. “We value our strong
relationship with the Prospect team.”
“ECI’s innovative cloud products, broad array of
partnerships with leading technology providers, and recurring
solutions for ECI’s long-tenured clients represent differentiating
investment attributes for Prospect in the information technology
sector,” said Jason Wilson, Managing Director of Prospect Capital
Management L.P. “We look forward to supporting ECI’s strong
momentum as well as ECI’s multi-pronged growth initiatives
contemplated under H.I.G.’s ownership.”
ABOUT PROSPECT CAPITAL
CORPORATION
Prospect Capital Corporation
(www.prospectstreet.com) is a business development company that
focuses on lending to and investing in private businesses.
Prospect’s investment objective is to generate both current income
and long-term capital appreciation through debt and equity
investments.
Prospect has elected to be treated as a business
development company under the Investment Company Act of 1940 (“1940
Act”). Prospect is required to comply with a series of regulatory
requirements under the 1940 Act as well as applicable NASDAQ,
federal and state rules and regulations. Prospect has elected to be
treated as a regulated investment company under the Internal
Revenue Code of 1986. Failure to comply with any of the laws and
regulations that apply to Prospect could have an adverse effect on
Prospect and its shareholders.
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, whose safe harbor for forward-looking
statements does not apply to business development companies. Any
such statements, other than statements of historical fact, are
highly likely to be affected by other unknowable future events and
conditions, including elements of the future that are or are not
under Prospect’s control, and that Prospect may or may not have
considered; accordingly, such statements cannot be guarantees or
assurances of any aspect of future performance. Actual developments
and results are highly likely to vary materially from any
forward-looking statements. Such statements speak only as of
the time when made, and Prospect undertakes no obligation to update
any such statement now or in the future.
For further information, contact: Grier Eliasek,
President and Chief Operating Officer grier@prospectstreet.com
Telephone (212) 448-0702
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