Gladstone Capital Completed Successful Portfolio Exit
November 03 2016 - 4:34PM
Gladstone Capital Corporation (NASDAQ:GLAD) ("Gladstone Capital")
announced today that it has completed a multi-party transaction
whereby a strategic buyer acquired substantially all of the
operating assets of RBC Acquisition Corp. (“Company”).
The cash proceeds of the sale and post closing contractual
obligations are expected to support a full recovery of the cost
basis of all of Gladstone Capital’s secured debt investments and a
portion of its equity investment in the Company. The
final proceeds are subject to tax estimates and customary post
closing adjustments and will result in an increase in the fair
value of Gladstone Capital’s investments in the Company of
approximately $15 million compared to the fair value reported as of
June 30, 2016 and will be reflected in our fiscal September 30,
2016 year end results when reported on November 21, 2016.
Gladstone Capital Corporation is a publicly traded business
development company that invests in debt and equity securities,
consisting primarily of secured first and second lien term loans to
small and medium sized businesses in the United States. Information
on the business activities of Gladstone Capital and all the
Gladstone funds can be found at
www.gladstonecompanies.com.
For Investor Relations inquiries related to any of the monthly
dividend paying Gladstone funds, please visit
www.gladstone.com.
For further information: Gladstone Capital Corporation, +1-703-287-5893
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