Gladstone Investment Corporation Announces Sale of Funko, LLC
MCLEAN, Va., Nov. 2, 2015 (GLOBE NEWSWIRE) -- Gladstone Investment Corporation (NASDAQ:GAIN) ("Gladstone Investment") announced today the sale of its equity interest and the prepayment of its senior secured debt investment in Funko LLC ("Funko") on October 30, 2015. As a result of the sale, Gladstone Investment recognized a significant capital gain on its equity investment.
Gladstone Investment and its affiliated fund, Gladstone Capital (NASDAQ:GLAD), made identical equity and debt investments in Funko in May of 2013, which supported Fundamental Capital, LLC's acquisition of Funko.
"Gladstone Investment and Gladstone Capital have greatly enjoyed our partnership with Fundamental Capital, Funko's CEO, Brian Mariotti, and the Funko management team over the last few years. The team has transformed the company into a dominant player in the pop culture collectibles market and has positioned the company for a very bright future with their new owners," said Chris Daniel, Managing Director at the Gladstone Companies.
"With the sale of Funko, Gladstone Investment, since 2010, has exited seven of its management supported buyouts and realized significant capital gains on its equity investments. This activity demonstrates our capabilities as a buyout fund and our buyout-oriented investment approach," said David Dullum, President of Gladstone Investment.
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.
Information on the business activities of Gladstone Capital, Gladstone Investment and 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.
CONTACT: For further information: The Gladstone Companies, 703-287-5893
Released November 2, 2015