PennantPark Floating Rate Capital Ltd. Announces Share Purchases by Management and Directors
02 April 2020 - 12:17AM
Directors, officers and other employees of PennantPark Investment
Advisers, LLC purchased an aggregate of 524,750 shares of
PennantPark Floating Rate Capital Ltd. (“PFLT,” “we” or “our”)
(Nasdaq: PFLT) (TASE: PFLT) common stock from February 12, 2020 to
March 31, 2020.
“These share purchases should demonstrate the
strong alignment of interests that exists between our management
team and our shareholders. We remain committed to our strategy and
will continue to work hard for our investors as we proactively
address the challenges created by the COVID-19 pandemic,” said
Arthur Penn, Chairman and Chief Executive Officer. He continued,
“We strongly believe that the share price of PFLT does not
accurately reflect the value of the company and represents an
excellent investment opportunity. These purchases by management
show our confidence in PFLT’s long-term potential.”
ABOUT PENNANTPARK FLOATING RATE CAPITAL LTD.
PennantPark Floating Rate Capital Ltd. is a
business development company which primarily invests in U.S.
middle-market private companies in the form of floating rate senior
secured loans, including first lien secured debt, second lien
secured debt and subordinated debt. From time to time, PFLT may
also invest in equity investments. PennantPark Floating Rate
Capital Ltd. is managed by PennantPark Investment Advisers,
LLC.
ABOUT PENNANTPARK INVESTMENT ADVISERS, LLC
PennantPark Investment Advisers, LLC is a
leading middle market credit platform, which has approximately $3.8
billion of assets under management. Since its inception in
2007, PennantPark Investment Advisers, LLC has provided investors
access to middle market credit by offering private equity firms and
their portfolio companies as well as other middle-market borrowers
a comprehensive range of creative and flexible financing
solutions. PennantPark Investment Advisers, LLC is
headquartered in New York and has offices in Chicago, Houston and
Los Angeles.
FORWARD-LOOKING STATEMENTS
This press release may contain “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. You should understand that under Section
27A(b)(2)(B) of the Securities Act of 1933, as amended, and Section
21E(b)(2)(B) of the Securities Exchange Act of 1934, as amended
(the “Exchange Act”), the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995 do not apply to
forward-looking statements made in periodic reports PennantPark
Floating Rate Capital Ltd. files under the Exchange Act. All
statements other than statements of historical facts included in
this press release are forward-looking statements and are not
guarantees of future performance or results and involve a number of
risks and uncertainties. Actual results may differ materially from
those in the forward-looking statements as a result of a number of
factors, including those described from time to time in filings
with the Securities and Exchange Commission. PennantPark Floating
Rate Capital Ltd. undertakes no duty to update any forward-looking
statement made herein. You should not place undue influence on such
forward-looking statements as such statements speak only as of the
date on which they are made.
CONTACT:Aviv EfratPennantPark Floating Rate Capital Ltd.(212)
905-1000www.pennantpark.com
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