NEW YORK, NY--(Marketwire - Jul 12, 2011) - Prospect Capital Corporation (
Totes Isotoner is a designer, distributor, and retailer of high-quality, branded functional accessories, such as umbrellas, gloves, hats, scarves, sandals, and slippers. The Company maintains a leading market share in department stores, national chains, mass merchants, and food and drug stores in North America and Europe through its familiar Totes, Isotoner, and Acorn brands.
"Prospect was able to commit to this transaction quickly by focusing on critical business due diligence items within an expeditious timeframe," said Benton Cummings, a Managing Director of Prospect Capital Management. "Totes Isotoner and its management team have an impressive track record of operational and financial performance, and we are delighted to support MidOcean and BRS with our investment."
Prospect has closed more than $700 million of new originations so far in calendar year 2011.
ABOUT PROSPECT CAPITAL CORPORATION
Prospect Capital Corporation (www.prospectstreet.com) is a closed-end investment company that lends to and invests in private and microcap public businesses. Our investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.
We have elected to be treated as a business development company under the Investment Company Act of 1940 ("1940 Act"). We are required to comply with a series of regulatory requirements under the 1940 Act as well as applicable NASDAQ, federal, and state rules and regulations. We have 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 us could have an adverse effect on us and our 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 our control, and that we 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 these estimates and projections of the future. Such statements speak only as of the time when made, and we undertake no obligation to update any such statement now or in the future.