Allied Capital Provides Acquisition Financing to Insight Pharmaceuticals Corporation.Business Editors WASHINGTON--(BUSINESS WIRE)--May 7, 2003 Allied Capital Corporation (NYSE NYSE See: New York Stock Exchange : ALD ALD abbr. adrenoleukodystrophy ALD, n.pr See adrenoleukodystrophy. ALD aldolase. ) today announced that it has provided $10 million in subordinated debt Subordinated Debt A loan (or security) that ranks below other loans (or securities) with regard to claims on assets or earnings. Also known as "junior security" or "subordinated loan". to finance Insight Pharmaceuticals Corporation ("Insight" or "the Company"). The Company was established in 2000 by Catterton Partners ("Catterton") as a platform to acquire and grow selective, well-known, over-the-counter pharmaceutical brands. Since its formation, Insight has built a portfolio of 17 brands including the Sucrets brand (cough and sore throat Sore Throat Definition Sore throat, also called pharyngitis, is a painful inflammation of the mucous membranes lining the pharynx. It is a symptom of many conditions, but most often is associated with colds or influenza. lozenges). Insight will use the financing to acquire three additional niche, over-the-counter brands including Anacin (aspirin), Nix (lice treatment) and Bonine (motion sickness motion sickness, waves of nausea and vomiting experienced by some people, resulting from the sudden changes in movement of a vehicle. The ailment is also known as seasickness, car sickness, train sickness, airsickness, and swing sickness. ). "Insight Pharmaceuticals Corporation remains focused on the acquisition of brands that are well-recognized and possess staying power, but have generally been under-managed," said Bill Walton, Allied Capital Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "The current management team has a proven track record of success in building branded consumer products companies. The company is therefore well-positioned to take advantage of continued growth in market share through increased distribution and the enhancement of sales and promotion efforts." About Allied Capital Allied Capital is the nation's largest business development company and provides long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. and equity investment capital to support the expansion of companies in a variety of industries. The company also participates in the real estate capital markets as an investor in non-investment grade commercial mortgage-backed securities. The company is headquartered in Washington, DC. For more information, please visit the web site at www.alliedcapital.com, call Allied Capital Investor Relations Investor relations The process by which the corporation communicates with its investors. toll-free at (888) 818-5298, or e-mail us at ir@alliedcapital.com. About Catterton Partners With over $500 million of equity capital, Catterton Partners is one of the largest private equity firms in the U.S. focusing on providing growth equity capital in the consumer industries. In October of 2000, Catterton engaged the management services of Insight Holdings to oversee the management and operations of the Company. Catterton has enjoyed a multi-year and successful relationship with Insight. Investments completed by Catterton include, among others: Farley's & Sathers Candy Company, Inc., Odwalla/Fresh Samantha, Baja Fresh, Build-a-Bear Workshops, Case Logic and P.F. Chang's China Bistro. About Insight Holdings Insight Holdings is a management team comprised of four senior consumer industry executives. Insight Holdings has a long-standing history of applying proven marketing and operating strategies to build both sales and long-term profits. The group directs the day-to-day operations and sets corporate strategy for the Company. Forward-Looking Statements The information contained in this press release contains forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements, and these factors are enumerated This term is often used in law as equivalent to mentioned specifically, designated, or expressly named or granted; as in speaking of enumerated governmental powers, items of property, or articles in a tariff schedule. in the company's periodic filings with the Securities and Exchange Commission. |
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