NEW YORK, NY--(Marketwired - Apr 17, 2015) - Prospect Capital Corporation (
Founded over a decade ago, USG is an entrepreneur-owned direct marketing company with an active base of longstanding customers. USG utilizes a variety of direct mail, print media, digital media, television direct response, and telemarketing channels to reach new and existing consumers interested in purchasing high-value collectible items.
"Prospect's loan to USG exemplifies Prospect's direct lending business that provides financing solutions to family-owned companies," said David Moszer, a Managing Director of Prospect Capital Management L.P. "Prospect worked with USG to develop a loan package that provides USG with flexibility to expand its business operations without raising dilutive equity capital."
Prospect closed nearly $3.2 billion of new originations during calendar year 2014.
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.
