Gladstone Investment Corporation Invests $9.0 Million in Star Seed, Inc.
MCLEAN, Va., June 12, 2013 /PRNewswire/ -- Gladstone Investment Corporation (NASDAQ: GAIN) ("Gladstone Investment" or the "Company") announced today that on June 4, 2013, it participated in the acquisition of Star Seed, Inc. ("Star Seed"), through an investment consisting of senior debt, preferred equity, and common equity. Gladstone Investment, together with Broadgate Capital LLC (www.broadgatecap.com), Highline Equity LLC (www.highlineequitypartners.com) and the executive management team, provided the capital in support of the transaction. Since its founding in 1920, Star Seed has become a recognized leader in the national seed market. Based in Osborne, Kansas, Star Seed provides its customers with a variety of specialty seeds and related products.
"Gladstone Investment is excited about partnering with Broadgate, Highline and the talented and experienced management team at Star Seed. We look forward to the continued growth of the business and building on the success of the management team over the past several years," said Kyle Largent, director of private finance at the company's registered investment advisor.
Gladstone Investment Corporation is a publicly traded business development company that seeks to make debt and equity investments in small and mid-sized businesses in the United States in connection with acquisitions, changes in control and recapitalizations. Gladstone Investment has paid 95 consecutive monthly cash dividends on its common stock.
Information on the business activities of all the Gladstone funds can be found at www.gladstonecompanies.com. For Investor Relations inquiries related to any of the monthly dividend paying Gladstone funds, please visit www.gladstone.com.
The statements in this press release regarding the longer-term prospects of Star Seed and the ability of Star Seed to grow and expand 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 the Company's current plans 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 Investment's filings with the Securities and Exchange Commission. Gladstone Investment undertakes no obligation to publicly release the result of any revisions to these forward looking statements that may be made to reflect any future events or otherwise, except as required by law.
SOURCE Gladstone Investment Corporation
Released June 12, 2013