MCLEAN, Va., Jan. 2, 2014 /PRNewswire/ -- Gladstone Capital Corporation (NASDAQ: GLAD) ("Gladstone Capital") announces today that on December 27, 2013, it invested $17.0 million of senior subordinated debt in J.America, Inc. ("J.America").
Founded in 1992 and headquartered in Webberville, MI, J.America is an established leading supplier of licensed decorated and undecorated apparel and headwear, which is sold into a number of distribution channels, including: specialty college and resort retailers, military exchanges, mid-tier and mass retailers, sporting goods stores, farm & fleet retailers, and through wholesale distributors and decorators that service the imprinted sportswear market across the country. Gladstone Capital's investment supports J.America's continued expansion, including the company's recent award of an exclusive licensing contract with The Ohio State University.
"Gladstone Capital is excited to support J.America's talented and experienced management team by helping fund the company's growth. We look forward to the continued progress of the business and building upon the highly recognized and valuable brand that the management team has developed over the past few years," said John Freal, a Managing Director of Gladstone Management Corporation, Gladstone Capital's affiliated investment adviser.
Gladstone Capital Corporation is a publicly traded business development company that invests in debt and equity securities, consisting primarily of senior term loans, second term lien loans, and senior subordinated term loans in small and medium sized businesses in the United States. The Company has paid 123 consecutive monthly cash distributions on its common stock. Before the Company started paying monthly distributions, the Company paid eight consecutive quarterly cash distributions 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 J.America and its management team, and the ability of J.America 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 Capital's filings with the Securities and Exchange Commission. Gladstone Capital 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 Capital Corporation