Credit Services & Lending M&A » By The Online Investor Staff, updated Tue., Apr. 16, 4:32 PM
Recent mergers and acquisitions in the Credit Services & Lending M&A category.
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Slide #29. Prospect Capital Corporation — Nicholas Financial, Inc.
Acquirer:
Prospect Capital Corporation (PSEC)
Acquiree:
Nicholas Financial, Inc. (NICK)
Details:
Prospect Capital Corporation (NASDAQ: PSEC) ("Prospect") announced today that Prospect has entered into a definitive agreement to acquire 100% of the common stock of Nicholas Financial, Inc. (NASDAQ: NICK) ("Nicholas") for $16.00 per share. Subject to certain conditions, the transaction is currently contemplated to close in April 2014, although this timing could be earlier or later depending on the time required to obtain the requisite approvals. The Board of Directors of Nicholas has voted to recommend the transaction to the security holders of Nicholas.
Prospect Capital is registered as a closed-end investment company. Co.'s investment objective is to generate both current income and long-term capital appreciation through debt and equity investments. Co. invests primarily in senior and subordinated debt and equity of private companies in need of capital for acquisitions, divestitures, growth, development, recapitalizations and other purposes. Co. works with the management teams or financial sponsors to seek investments with historical cash flows, asset collateral or contracted pro-forma cash flows.
Preferred: PSEC.PRA
Open the PSEC Page at The Online Investor »Prospect Capital is registered as a closed-end investment company. Co.'s investment objective is to generate both current income and long-term capital appreciation through debt and equity investments. Co. invests primarily in senior and subordinated debt and equity of private companies in need of capital for acquisitions, divestitures, growth, development, recapitalizations and other purposes. Co. works with the management teams or financial sponsors to seek investments with historical cash flows, asset collateral or contracted pro-forma cash flows.
Preferred: PSEC.PRA
Open the NICK Page at The Online Investor »
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