NEW YORK, NY — (MARKET WIRE) — 03/10/08 — Prospect Capital Corporation (NASDAQ: PSEC)(“Prospect”) announced today that it has made an additional secured Term Cdebt investment of approximately $6.5 million in Unitek Acquisition, Inc.(“Unitek”), a leading provider of outsourced technical services based inBlue Bell, Pennsylvania. Prospect now has extended in the aggregate $11.5million of debt capital to Unitek.
Unitek provides installation, maintenance, repair, construction, and othertechnical services to customers in the satellite television,telecommunications, broadband cable, and cellular industries. Unitek’s CEO,Scott Hisey, has more than 18 years of industry experience and waspreviously the chief operating officer of another communications servicescompany.
Prospect’s debt supports the equity investment of HM Capital Partners, L.P.(“HM”), an affiliate of the $1.6 billionDallas-based private equitysponsor previously known as Hicks, Muse, Tate & Furst, Inc.
“We are pleased with Unitek’s continued growth, and greatly value therelationship with HM Capital, a top-tier private equity sponsor,” saidGautam Shirhattikar, a Vice President with Prospect Capital Management.
ABOUT PROSPECT CAPITAL CORPORATION
Prospect Capital Corporation (www.prospectstreet.com/) is a closed-endinvestment company that lends to and invests in private and microcap publicbusinesses. Prospect Capital’s investment objective is to generate bothcurrent income and capital appreciation through debt and equityinvestments.
Prospect Capital has elected to be treated as a business developmentcompany under the Investment Company Act of 1940 (“1940 Act”). We arerequired to comply with a series of regulatory requirements under the 1940Act as well as applicable NASDAQ, federal and state laws and regulations.We have elected to be treated as a regulated investment company under theInternal Revenue Code of 1986. Failure to comply with any of the laws andregulations that apply to Prospect Capital could have a material adverseeffect on Prospect Capital and its shareholders.
This press release contains forward-looking statements within the meaningof the Private Securities Litigation Reform Act of 1995. Any suchstatements, other than statements of historical fact, are likely to beaffected by other unknowable future events and conditions, includingelements of the future that are or are not under the Company’s control, andthat the Company may or may not have considered; accordingly, suchstatements cannot be guarantees or assurances of any aspect of futureperformance. Actual developments and results are highly likely to varymaterially from these estimates and projections of the future. Suchstatements speak only as of the time when made, and the Company undertakesno obligation to update any such statement now or in the future.