In 2001, Genesis Park participated in the rescue of PointOne from bankruptcy, providing senior debt and receiving equity warrants. We understood the telecom business and liked our priority and our positioning were the company to get into trouble again. Our team was also able to provide legal expertise as we extracted the business from formal bankruptcy proceedings. We received our principal back within a year and participated in the sale to Thermo Capital, recognizing significant gain on the equity and receiving mezzanine interest rates on a seller note.
