NEW YORK, NY — (MARKET WIRE) — 07/27/10 — Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”) announced today that Prospect has made a secured debt investment of $21 million in SonicWALL, Inc. (“SonicWALL”), a global leader in network security and data protection for small, mid-sized, and large enterprise organizations.
Established in 1991, SonicWALL’s global network of strategic partners, resellers, and distributors are some of the best-known names in information technology. Earning high recognition from key industry publications, SonicWALL solutions have been recognized with seven reviews rated five stars from SC Magazine during the past two years. Other awards include 2009 InfoWorld Technology of the Year for Networking and Security, SC Magazine 2010 Award finalists, eWeek’s Channel Insider 2008 Products of the Year, and SearchNetworking.com’s 2008 Product Leadership. With more than 15,000 resellers and distributors worldwide, SonicWALL has won top honors in the VAR Business Annual Report Card in the security appliance category in four out of the past five years. SonicWALL is rated among the top three brands among U.S. resellers, according to CMP’s VAR Business. SonicWALL’s award-winning solutions include network security, secure remote access, email security, backup and recovery, and policy and management.
SonicWALL is being acquired by affiliates of an investor group led by Thoma Bravo, LLC, which includes the Ontario Teachers’ Pension Plan through its private equity investment department, Teachers’ Private Capital.
“Prospect was an important lender in helping to design an acquisition financing package to support the future growth of SonicWALL,” said Seth Boro, a Principal at Thoma Bravo.
“This transaction exemplifies Prospect Capital’s strategy of supporting high quality sponsors that invest in attractive companies and that need flexible capital solutions,” said Sachin Sarnobat, an investment professional with Prospect Capital Management, LLC.
ABOUT PROSPECT CAPITAL CORPORATION
Prospect Capital Corporation (www.prospectstreet.com/) 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.