Taos Footwear raises US$65m from Prospect Capital
Prospect Capital Corporation (NASDAQ: PSEC) has provided a US$65 million ($105.9M) investment to Taos Footwear Holdings, LLC. The funding includes a first lien senior secured term loan, a first lien senior secured convertible term loan, and a preferred equity investment. The deal was completed in collaboration with Taos Footwear’s founder and leadership team.
Transaction snapshot
Deal value: US$65 million ($105.9M)
Deal multiples: N/A
Deal type: Debt + Convertible Loan + Preferred Equity
Investors: Prospect Capital Corporation
Taos Footwear is a leading footwear brand known for stylish, supportive designs. Over the past 20 years, its innovative footbed technology has influenced the lifestyle footwear industry.
Founder and CEO Glen Barad said the company has grown significantly by meeting customer needs. He noted that as the business scaled, it sought a strategic partner offering both capital and expertise. He described Prospect Capital as the right fit to help drive continued success.
Prospect Capital Managing Director Robert Melman said the firm is pleased to partner with Taos Footwear. He highlighted the brand’s strong market position and commitment to innovation, stating that Prospect looks forward to supporting its future growth.
