SOURCE: Prospect Capital Corporation

Prospect Capital Corporation

November 09, 2011 09:13 ET

Prospect Capital Provides $15 Million in Financing to Support the Acquisition of a Specialty Pharmacy Services Company

NEW YORK, NY--(Marketwire - Nov 9, 2011) - Prospect Capital Corporation (NASDAQ: PSEC) ("Prospect") announced today that Prospect has provided a $15 million secured second lien loan to support the acquisition of a specialty pharmacy services company (the "Company") in a private equity backed transaction.

The Company is a leading mail order pharmacy that offers a comprehensive service solution designed to address the complexities of the workers compensation market. By ensuring appropriate and timely access to medication, the Company's services help to improve medical outcomes and return employees to the workplace.

"Prospect is pleased to provide financing to support the growth and recapitalization of this industry-leading company," said David Moszer, a Managing Director of Prospect Capital Management and Manager of Prospect's Financial Sponsors Group.

Prospect has closed over $935 million of new originations during calendar year 2011.

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 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.