Gladstone Capital Corporation Exits its Investment in Antenna Research Associates, Inc.

Rhea-AI Summary

Gladstone Capital (Nasdaq:GLAD) announced the sale of its equity interest and debt investment prepayment in Antenna Research Associates (ARA), resulting in a significant gain on its equity investment. Gladstone Capital, along with ARA's management and institutional co-investors, had acquired ARA in November 2018. ARA, founded in 1963, specializes in designing and manufacturing antennas and RF systems for military and civilian applications across multiple industries including Communication Networks, SATCOM, RADAR, and Electronic Warfare. The company experienced rapid growth during Gladstone's investment period, expanding both organically and through multiple acquisitions.

Positive

• Realized significant gain on equity investment
• Successfully exited both equity and debt positions
• Portfolio company achieved rapid growth during investment period

Negative

• None.

News Market Reaction

-0.66%

1 alert

-0.66% News Effect

On the day this news was published, GLAD declined 0.66%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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

View the original press release on accesswire.com

FAQ

What was the outcome of Gladstone Capital's (GLAD) investment in Antenna Research Associates?

Gladstone Capital (GLAD) successfully exited its investment in Antenna Research Associates through the sale of its equity interest and prepayment of debt investment, realizing a significant gain on its equity investment.

When did Gladstone Capital (GLAD) initially invest in Antenna Research Associates?

Gladstone Capital (GLAD) initially acquired Antenna Research Associates in November 2018, in combination with ARA's management and institutional co-investors.

How did Antenna Research Associates perform during Gladstone Capital's (GLAD) investment period?

During Gladstone Capital's investment period, Antenna Research Associates experienced rapid growth, expanding both organically and through multiple acquisitions.