WASHINGTON, August 10, 2004 – Sutherland Asbill & Brennan LLP served as counsel for Ferris, Baker Watts, the underwriter of Prospect Energy Corporation's, recent initial public offering, which raised $105 million in gross proceeds. Prospect is the second business development company (BDC) to successfully go public this year, and the first since the Apollo Investment Corp.'s initial public offering in April (in which Sutherland also served as underwriter's counsel).
Prospect Energy Corp will lend and invest in middle market, privately held or thinly traded public companies in the energy industry, particularly gas, oil, coal and power businesses. It is currently the only BDC to specialize in this sector.
The Sutherland team, led by partners Steven B. Boehm and Cynthia M. Krus, included Harry S. Pangas and Sanjay M. Shirodkar. All are located in the firm's Washington office. Boehm and Krus have been involved in numerous public and private securities offerings, and are widely recognized as the leading practitioners in the BDC area.
Sutherland Asbill & Brennan LLP is a national law firm known for solving challenging business problems and resolving unique legal issues for many of the nation's largest companies. Founded in 1924, the firm has grown to more than 375 lawyers with offices in Atlanta, Austin, Houston, New York, Tallahassee and Washington. For further information about the firm, please visit www.sutherland.com.