NEW YORK, NY--(Marketwire - May 4, 2011) - Prospect Capital Corporation (
Founded in 1989 and headquartered near Indianapolis in Carmel, Indiana, J.D. Byrider is America's leading used car sales and finance business. J.D. Byrider has 127 company-owned and franchised dealerships in 29 states, with nearly one million vehicles sold during J.D. Byrider's history.
"J.D. Byrider is an industry leader with a proven concept and many highly satisfied customers," said Jim Clippard of Prospect Capital Management. "With nearly $2 billion in assets and committed capital, Prospect is also an industry leader, in middle-market finance, and we actively solicit $10 million to $100 million deals from private equity sponsors and intermediaries nationwide. We are a relationship-driven team that delivers significant repeat business through responsiveness and follow-through."
Prospect has closed more than $350 million of new originations since December 31, 2010.
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.