Monday, December 21, 2009

Patriot Capital Funding, Inc. Faces Shareholder Investigation Alleging Unfair Takeover

An analysis on account of accepted investors Patriot Capital Funding, Inc. (Public, NASDAQ:PCAP), who purchased the shares afore August 03, 2009, over abeyant breaches of fiduciary assignment and added violations of accompaniment law in affiliation with an declared arbitrary takeover amount were announced.

Those who are currently investors in shares of Patriot Capital Funding, Inc. (NASDAQ:PCAP), and purchased the shares afore August 03, 2009, and / or accept added advice apropos to the investigation, should acquaintance the Shareholders Foundation, Inc. at Email: mail(at)shareholdersfoundation.com or alarm us at: +1 (858) 779 - 1554. The investigations by law firms focus on abeyant breaches of fiduciary assignment and added violations of accompaniment law by the Board of Directors of Patriot Capital Funding, Inc. (Public, NASDAQ:PCAP) arising out of their attack to advertise Patriot Capita to Prospect Capital Corporation. Prospect Capital Corporation (NASDAQ: PSEC) appear on Monday, August 03, 2009, that it has entered into a absolute acceding to access Patriot Capital Funding, Inc. (NASDAQ: PCAP). Prospect Capital Corporation said it is accepting Patriot Capital Funding for “$197 million, comprised of (a) banknote to accord all Patriot Capital Funding debt, advancing to be $110.5 actor if the accretion closes, additional (b) Prospect Capital Corporation shares exchanged at a arrangement of about 0.3992 Prospect Capital Corporation shares for anniversary Patriot Capital Funding, Inc. (NASDAQ: PCAP) share”. The accretion was absolutely accustomed by both of Prospect Capital's and Patriot Capital's Board of Directors and ,Prospect Capital Corporation expects to abutting the takeover in the next 60 days.

But according to one analysis “the transaction appears to be unfair” to accepted investors of Patriot Capital Funding, Inc. (Nasdaq:PCAP) “by declining to conduct an accessible and fair arrangement action for Patriot Capital” and the “offer to acquirement Patriot Capital appears opportunistically timed to crop advantage of the accepted bread-and-butter downturn”. Another analysis states the accord is “unfair accustomed that the Company has a book amount of over $8.12 per share”.

Patriot Capital Funding, Inc., amid in Westport, CT, is a closed-end and non-diversified investment company. It is a specialty accounts aggregation that provides costs solutions to small- to mid-sized companies. The Company about invests in companies with anniversary revenues amid $10 actor and $100 million, and companies, which accomplish in assorted automated sectors. Patriot Capital Funding, Inc appear in 2007 Total Revenue of $38.96million with a Net Income of $18.43million and in 2008 Total Revenue of $42.30million. Shares of Patriot Capital Funding (NASDAQ:PCAP) traded at $3.84 per allotment afterwards the advertisement and at $1.949 per allotment the day afore the announcement. Shares of Patriot Capital Funding (NASDAQ:PCAP) were down from a 52weekHigh of $.784 per share, $11.61 per allotment in 2008 and over $15 per allotment in 2007.

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