About PennantPark—PennantPark Investment Corporation (Nasdaq: PNNT) is an externally managed investment company that has elected to be treated as a business development company under the Investment Company Act of 1940 and as a regulated investment company, or RIC.
PennantPark's investment objectives are to generate both current income and capital appreciation through debt and equity investments. We invest primarily in U.S. middle-market private companies in the form of mezzanine debt, senior secured loans, and equity investments. The companies in which we invest are typically highly leveraged, often as a result of leveraged buy-outs or other recapitalization transactions. We expect that our investments in mezzanine loans, senior secured loans and other investments will range between $10 million and $50 million each, although this investment size will vary proportionately with the size of our capital base. |
