Gladstone Capital Sells Investment in Antenna Research Associates

Gladstone Capital Corporation, trading on Nasdaq under GLAD, has announced the sale of its equity interest and the prepayment of its debt investment in Antenna Research Associates, Inc. (ARA). This sale has led to a significant gain on the equity investment for Gladstone Capital. ARA was initially acquired in November 2018 in partnership with ARA's management and institutional co-investors.

Founded in 1963 and based in Laurel, Maryland, ARA specializes in designing and manufacturing antennas and RF systems for diverse applications, including military and civilian sectors such as Communication Networks and Electronic Warfare.

According to John Sateri, Managing Director of Gladstone Capital, the collaboration with ARA's management led to rapid growth and successful business transformation. Gladstone Capital is a publicly traded entity that primarily invests in debt securities in the U.S. lower middle market.