PennantPark Investment Corporation Announces Share Purchases by Management and Directors
April 01 2020 - 9:15AM
Directors, officers and other employees of PennantPark Investment
Advisers, LLC purchased an aggregate of 208,136 shares of
PennantPark Investment Corporation (“PNNT,” “we” or “our”) (Nasdaq:
PNNT) common stock from February 12, 2020 to March 31, 2020.
“These share purchases should demonstrate the
strong alignment of interests that exists between our management
team and our shareholders. We remain committed to our strategy, and
will continue to work hard for our investors as we proactively
address the challenges created by the COVID-19 pandemic,” said
Arthur Penn, Chairman and Chief Executive Officer. He continued,
“We strongly believe that the share price of PNNT does not
accurately reflect the value of the company and represents an
excellent investment opportunity. These purchases by management
show our confidence in PNNT’s long-term potential.”
ABOUT PENNANTPARK INVESTMENT CORPORATION
PennantPark Investment Corporation is a business
development company which principally invests in U.S. middle-market
private companies in the form of first lien secured debt, second
lien secured debt, subordinated debt and equity investments.
PennantPark Investment Corporation is managed by PennantPark
Investment Advisers, LLC.
ABOUT PENNANTPARK INVESTMENT ADVISERS, LLC
PennantPark Investment Advisers, LLC is a
leading middle market credit platform, which has approximately $3.8
billion of assets under management. Since its inception in 2007,
PennantPark Investment Advisers, LLC has provided investors access
to middle market credit by offering private equity firms and their
portfolio companies as well as other middle-market borrowers a
comprehensive range of creative and flexible financing
solutions. PennantPark Investment Advisers, LLC is
headquartered in New York and has offices in Chicago, Houston and
Los Angeles.
FORWARD-LOOKING STATEMENTS
This press release may contain “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. You should understand that under Section
27A(b)(2)(B) of the Securities Act of 1933, as amended, and Section
21E(b)(2)(B) of the Securities Exchange Act of 1934, as amended
(the “Exchange Act”), the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995 do not apply to
forward-looking statements made in periodic reports PennantPark
Investment Corporation files under the Exchange Act. All statements
other than statements of historical facts included in this press
release are forward-looking statements and are not guarantees of
future performance or results and involve a number of risks and
uncertainties. Actual results may differ materially from those in
the forward-looking statements as a result of a number of factors,
including those described from time to time in filings with the
Securities and Exchange Commission. PennantPark Investment
Corporation undertakes no duty to update any forward-looking
statement made herein. You should not place undue influence on such
forward-looking statements as such statements speak only as of the
date on which they are made.
CONTACT:Aviv EfratPennantPark Investment Corporation(212)
905-1000www.pennantpark.com
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