Prospect Capital Purchases $136 Million of First Lien Senior Secured Floating Rate Notes Issued by Centerfield Media

NEW YORK, Feb. 08, 2017 -- Prospect Capital Corporation (NASDAQ:PSEC) (“Prospect”) announced today that Prospect recently purchased $136 million of first lien senior secured floating rate notes issued by Centerfield Media Holding Company (“Centerfield”), a portfolio company of H.I.G. Growth Partners. Centerfield issued these notes to Prospect to support the refinancing of existing debt and the acquisition of Qology Direct Holdings, Inc. (“Qology”) by Centerfield.

Centerfield is a digital media company that leverages its proprietary technology platform, Dugout, to optimize the customer acquisition process by identifying high value and intent driven consumers at scale across a variety of digital media platforms including search, display, social and others. Qology’s customer acquisition and conversion capabilities will enable Centerfield to offer a fully integrated sales and marketing solution controlling the consumer experience from initial touch point all the way through completed sale, delivering new customers at scale to some of the biggest brands worldwide.

“Prospect’s responsiveness and ability to provide the entire $136 million loan provided Centerfield with the certainty of execution required to complete an attractive acquisition,” said Nik Shah, Managing Director of H.I.G. Growth Partners.

“The combination of Centerfield and Qology creates a leading and vertically integrated provider of customer acquisition and conversion services operating in the rapidly growing digital marketing sector,” said Jason Wilson, Managing Director of Prospect Capital Management L.P. “This investment represents another example of Prospect’s ability to lead large transactions and provide attractive financing options to private equity sponsors, business owners, and intermediaries.”

ABOUT PROSPECT CAPITAL CORPORATION

Prospect Capital Corporation (www.prospectstreet.com) is a business development company that focuses on lending to and investing in private businesses. Prospect’s investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.

Prospect has elected to be treated as a business development company under the Investment Company Act of 1940 (“1940 Act”). Prospect is required to comply with a series of regulatory requirements under the 1940 Act as well as applicable NASDAQ, federal and state rules and regulations. Prospect has 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 Prospect could have an adverse effect on Prospect and its 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 Prospect’s control, and that Prospect 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 any forward-looking statements. Such statements speak only as of the time when made, and Prospect undertakes no obligation to update any such statement now or in the future.

For further information, contact:

Grier Eliasek, President and Chief Operating Officer
[email protected]
Telephone (212) 448-0702