MCLEAN, VA / ACCESSWIRE / November 4, 2024 / Gladstone Capital Corporation (Nasdaq:GLAD) ("Gladstone Capital") announced today the sale of its equity interest and the prepayment of its debt investment in Antenna Research Associates, Inc. ("ARA"). As a result of this transaction, Gladstone Capital realized a significant gain on its equity investment. Gladstone Capital in combination with ARA's management and institutional co-investors acquired ARA in November 2018.
ARA, founded in 1963 and headquartered in Laurel, Maryland, has over 60 years of experience designing, developing, and manufacturing antennas and RF systems for both military and civilian applications across a multitude of industries including Communication Networks, Unmanned Air Systems SATCOM, RADAR, RF Surveillance and Jamming for Electronic Warfare, Spectrum Operations and Border Patrol, Public Safety Networks, and Civilian markets.
"Gladstone Capital has enjoyed a strong partnership with ARA's management team, co-investors, and Board of Directors over the last several years. We are proud to have supported the business through a period of rapid growth, both organically and through multiple acquisitions," said John Sateri, Managing Director of Gladstone Capital. "Logen Thiran, CEO, and the entire management team have achieved outstanding results in both growing and transforming the business and we wish them continued success."
Gladstone Capital Corporation is a publicly traded business development company that invests primarily in debt securities and makes equity co-investments, consisting of senior and junior capital to lower middle market businesses in the United States. Additional information can be found at www.gladstonecapital.com.
For Investor Relations inquiries related to any of the monthly distribution-paying Gladstone family of funds, please visit www.gladstone.com.
Forward-looking Statements:
The statements in this press release regarding the longer-term prospects of Gladstone Capital and ARA and its management team, and the ability of Gladstone Capital and ARA to be successful in the future are "forward-looking statements." These forward-looking statements inherently involve certain risks and uncertainties in predicting future results and conditions. Although these statements are based on Gladstone Capital's current beliefs that are believed to be reasonable as of the date of this press release, a number of factors could cause actual results and conditions to differ materially from these forward-looking statements, including those factors described from time to time in Gladstone Capital's filings with the Securities and Exchange Commission. Gladstone Capital undertakes no obligation to update or revise these forward looking statements whether as a result of new information, future events or otherwise, except as required by law.
For further information: Gladstone Capital Corporation, 703-287-5810
SOURCE: Gladstone Capital Corporation
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