NEW YORK, NY--(Marketwired - Jul 2, 2015) - Prospect Capital Corporation (NASDAQ: PSEC) ("Prospect") announced today that Prospect in the June 2015 quarter provided a commitment to support the acquisition of Bay Area Addiction Research and Treatment ("BAART") by an investment fund affiliated with Webster Capital Management, L.L.C. ("Webster"). Prospect's secured financing is comprised of an initial term loan and additional commitments in the form of a delayed draw term loan and revolving credit facility.

Based in San Francisco and founded in 1977, BAART operates 22 outpatient opioid treatment service clinics in California, Arizona, Nebraska, North Carolina, and Vermont. BAART's clinics provide methadone treatment and counseling services to assist patients with opioid addictions.

"Webster selected Prospect based on Prospect's willingness and ability to provide committed capital both to finance the initial acquisition of BAART and to provide incremental capital support for quality enhancement and future growth of the company," said David Malm, a Co-Managing Partner of Webster.

"Prospect provided a creative multi-stage financing solution to assist Webster and BAART with accretive acquisition growth," said David Belzer, a Managing Director of Prospect Capital Management L.P. "We look forward to continued strong performance at BAART, a company that provides a valuable service to people in need and addresses a growing opioid addiction epidemic in our country."

Prospect closed approximately $2.0 billion of new originations for the twelve months ended June 30, 2015.

ABOUT PROSPECT CAPITAL CORPORATION

Prospect Capital Corporation (www.prospectstreet.com) is a business development company that focuses on lending to and investing in private businesses. Prospect's investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.

Prospect has elected to be treated as a business development company under the Investment Company Act of 1940 ("1940 Act"). Prospect is required to comply with a series of regulatory requirements under the 1940 Act as well as applicable NASDAQ, federal and state rules and regulations. Prospect has elected to be treated as a regulated investment company under the Internal Revenue Code of 1986. Failure to comply with any of the laws and regulations that apply to Prospect could have an adverse effect on Prospect and its shareholders.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, whose safe harbor for forward-looking statements does not apply to business development companies. Any such statements, other than statements of historical fact, are highly likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under Prospect's control, and that Prospect may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially from any forward-looking statements. Such statements speak only as of the time when made, and Prospect undertakes no obligation to update any such statement now or in the future.