Prospect Capital Corporation and Affiliate Complete $18 Million Investment in The Ridge

Company Overview - Prospect Capital Corporation has provided approximately $18 million in financing to TCSPV Holdings IV, LLC, known as The Ridge, through a first lien senior secured term loan, a first lien senior secured revolving credit facility, and an equity investment in collaboration with Thesis Capital Partners [1] - The Ridge is a physician-led addiction treatment facility that offers personalized care in a luxurious residential setting, providing services ranging from detoxification to outpatient care, integrating evidence-based clinical treatments with holistic therapies [2] Investment Rationale - Prospect Capital Corporation aims to support the growth of The Ridge, which is positioned as a differentiated treatment facility targeting professionals in the high-end substance abuse market [3] - The Ridge's management team has developed a clinically unique model that emphasizes privacy, professionalism, and real outcomes, which aligns with the investment strategy of Prospect and Thesis Capital Partners [3] About the Companies - Prospect Capital Corporation is a business development company that primarily lends to and invests in middle market privately-held companies, focusing on generating current income and long-term capital appreciation [4] - Thesis Capital Partners, based in Houston, Texas, invests in family-owned businesses across the United States, partnering with entrepreneurs and management teams to support operational transformation and business growth [5]