SOURCE: Prospect Capital Corporation

Prospect Capital Corporation

October 17, 2012 07:00 ET

Prospect Capital Provides $10 Million Loan to Support the Acquisition of Evanta Ventures and Sports Leadership Institute by Leeds Equity

NEW YORK, NY--(Marketwire - Oct 17, 2012) -  Prospect Capital Corporation (NASDAQ: PSEC) ("Prospect") announced today that Prospect has provided a $10 million loan to support the acquisition of Evanta Ventures Inc. ("Evanta") and Sports Leadership Institute, Inc. ("SLI") from dmg events (USA) inc., a subsidiary of Daily Mail and General Trust plc.

Founded in 2003 and based in Portland, Oregon, Evanta is the global leader of peer-to-peer networking platforms that engage C-suite executives from enterprises that represent aggregate annual revenues of $15 trillion. Evanta's elite offerings include more than 80 exclusive leadership forums and educational solutions for executives in the functional areas of technology, security, human resources, finance, and healthcare. Complementing those forums, Evanta offers the world's most significant private social network that brings together more than 12,000 qualified executives on an ongoing basis.

Founded in 2011, SLI provides the only exclusive leadership forums for professional and collegiate sports team executives in the industry. The Global Sports Summit, Global Sports Management Invitational, and Collegiate Sports Summit bring together owners, managers, athletic directors, and other stakeholders within the professional and collegiate sports sectors.

"Prospect delivered a customized financing solution for the transaction that addressed our needs under an accelerated closing timeframe," said Jacques Galante, a Managing Director at Leeds Equity Partners.

"Prospect's value-added solutions and high level of responsiveness helped drive the consummation of this transaction," said Scott VanHoy, a Principal at Leeds Equity Partners.

"Prospect is pleased to provide financing to support the acquisition by Leeds Equity of Evanta and SLI, the leading peer-to-peer leadership forums for C-suite and sports executives, respectively," said David Moszer, a Managing Director of Prospect Capital Management.

Prospect has closed more than $1.5 billion of originations to date in the current 2012 calendar year. Prospect's advanced investment pipeline aggregates more than $600 million of potential opportunities.

Prospect Capital Corporation ( 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 any forward-looking statements. 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.