Gladstone Investment Corporation has provided $8.75 million of debt and equity financing to Funko in support of the acquisition led by San Francisco-based private equity sponsor, Fundamental Capital in partnership with management. Gladstone Investment’s affiliated company, Gladstone Capital Corporation also provided $8.75 million of debt and equity financing in support of the acquisition.
Gladstone Investment Corporation (NASDAQ: GAIN) (“Gladstone Investment”) announces today that on May 29, 2013, it provided $8.75 million of debt and equity financing to Funko, LLC (“Funko”) in support of the acquisition led by San Francisco-based private equity sponsor, Fundamental Capital, LLC, in partnership with management. Gladstone Investment’s affiliated company, Gladstone Capital Corporation (NASDAQ: GLAD) (“Gladstone Capital”) also provided $8.75 million of debt and equity financing in support of the acquisition.
Funko, led by CEO Brian Mariotti , is a designer, importer, and marketer of pop-culture collectibles. The company was founded in 1998 and is based in Lynnwood, WA. The company has an extensive portfolio of licenses, ranging from tent pole movies to cult classics and retro pop icons. Funko deploys these licenses across several product platforms, including bobbleheads, vinyl figures and plush dolls. These products are sold to a diverse customer base ranging from mass merchandisers to independent gift and specialty boutiques.
“Gladstone is excited to partner with Fundamental Capital and the talented management team at Funko. We look forward to the continued growth of the business and building on the success of the management team over the past few years,” said Chris Daniel , a Managing Director of Gladstone Capital and Gladstone Investment.
“This is the first time that both Gladstone Capital and Gladstone Investment have co-invested in the same deal pursuant to the exemptive relief order we sought and received from the SEC. Both funds invested on the same terms and we believe that Funko will be a great investment for both of them,” 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. Gladstone Investment has paid 95 consecutive monthly 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.
Forward Looking Statements:
The statements in this press release regarding opportunities for growth and other statements that are not historical facts 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 Gladstone Investment’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 Investment’s filings with the Securities and Exchange Commission. Gladstone Investment 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 Investment Corporation