Gladstone Capital Completed Successful Portfolio Exit
MCLEAN, Va., Nov. 03, 2016 (GLOBE NEWSWIRE) -- 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
Released November 3, 2016