Capital Southwest Supports Cohere Capital’s Investment in Sonobi
October 28 2020 - 3:01PM
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.
Forward-Looking Statements
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
Officer214-884-3829
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