DALLAS, Oct. 28, 2020 (GLOBE NEWSWIRE) — Capital Southwest Corporation (“Capital Southwest”) (Nasdaq: CSWC), an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, announced today that it supported Cohere Capital’s (“Cohere”) recent investment in Sonobi, Inc. (“Sonobi” or the “Company”) with a first lien term loan and equity co-investment. Capital Southwest led the financing transaction and will act as the sole administrative agent on the credit facility.
“We are excited to partner with Cohere and Sonobi. Cohere brings extensive experience in the advertising technology space, and we look forward to supporting the business in its next phase of growth,” said Josh Weinstein, Managing Director of Capital Southwest. Grant Eason, Vice President of Capital Southwest said, “Sonobi plays a critical role in the digital advertising ecosystem and through its Jetstream solution is at the forefront of the industry’s transition to first party data.”
Since its inception in 2012, Sonobi has been a pioneer in digital advertising technology and programmatic spend. Sonobi’s people-based identifier (PBID) incorporates multiple identity approaches into a single ID that is cross-compatible and able to match first-party data from both publishers and brands, solving for identity across screens and environments. With access to over 125 million people across premium publications on the Sonobi platform, advertisers are now able to reach large audiences in cookie-less environments with increased transparency.
About Capital Southwest
Capital Southwest Corporation (Nasdaq: CSWC) is a Dallas, Texas-based, internally managed business development company, with approximately $278 million in net assets as of June 30, 2020. Capital Southwest is a middle market lending firm focused on supporting the acquisition and growth of middle market businesses with $5 to $25 million investments across the capital structure, including first lien, unitranche, second lien, subordinated debt and non-control equity co-investments. As a public company with a permanent capital base, Capital Southwest has the flexibility to be creative in its financing solutions and to invest to support the growth of its portfolio companies over long periods of time.
About Cohere Capital
Cohere Capital is a Boston-based private equity firm focused exclusively on middle market growth companies. Cohere Capital has a flexible mandate across growth markets, but primarily targets recapitalizations and growth investments in rapidly growing technology-enabled services companies.
This press release contains historical information and forward-looking statements with respect to the business and investments of Capital Southwest. Forward-looking statements are statements that are not historical statements and can often be identified by words such as “will,” “believe,” “expect” and similar expressions and variations or negatives of these words. These statements are based on management’s current expectations, assumptions and beliefs. They are not guarantees of future results and are subject to numerous risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statement. These risks include risks related to: changes in the markets in which Capital Southwest invests; changes in the financial, capital, and lending markets; regulatory changes; tax treatment and general economic and business conditions; and uncertainties associated with the impact from the COVID-19 pandemic, including its impact on the global and U.S. capital markets and the global and U.S. economy, the length and duration of the COVID-19 outbreak in the United States as well as worldwide and the magnitude of the economic impact of that outbreak; and the effect of the COVID-19 pandemic on our business prospects and the operational and financial performance of our portfolio companies, including our ability and their ability to achieve their respective objectives, and the effects of the disruptions caused by the COVID-19 pandemic on our ability to continue to effectively manage our business.
Readers should not place undue reliance on any forward-looking statements and are encouraged to review Capital Southwest’s Annual Report on Form 10-K for the year ended March 31, 2020 and subsequent filings, including the “Risk Factors” sections therein, with the Securities and Exchange Commission for a more complete discussion of the risks and other factors that could affect any forward-looking statements. Except as required by the federal securities laws, Capital Southwest does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changing circumstances or any other reason after the date of this press release.
Investor Relations Contact:
Michael S. Sarner, Chief Financial Officer