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Mity Inc. Announces Successful Launch of Traversa Non-Emergency Medical Transport Chair

1. Mity Inc. reports $1.6 million sales of the Traversa chair since 2024. 2. Traversa chair reduces labor costs by requiring only one operator. 3. Broda's new product is highly successful in the NEMT market. 4. Mity is a portfolio company of Prospect Capital Corporation (PSEC). 5. Event showcased at the Vancouver Rehab Equipment Expo on March 4.

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Why Bullish?

The success of Mity's Traversa chair in the NEMT market strengthens PSEC's investment. Historical examples show successful product launches enhancing investor confidence in portfolio companies, likely increasing PSEC's share value.

How important is it?

The article highlights financial success related to a company in PSEC's portfolio, suggesting strong prospects. Increased sales figures could directly impact PSEC's financial standing and investor perception.

Why Short Term?

Immediate financial gains from successful product sales may improve PSEC's cash flow. Proximity to the expo and earlier sales reports will likely reflect positively in the next quarterly earnings.

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MITY
OREM, Utah, March 10, 2025 (GLOBE NEWSWIRE) -- Mity Inc. announces that sales of its new Traversa chair serving the non-emergency medical transport ("NEMT") market have topped $1.6 million since introduction in early 2024.  Mity Inc. is a designer and manufacturer of commercial furniture selling into a variety of markets. Broda Seating is a division of Mity which designs and manufactures various types of wheelchairs (i.e., bariatric, pedal, positioning, and rehabilitation), hygiene chairs, and support accessories (i.e., head/back/arm support and cushions) for the senior living and hospitality end market.  In 2024, Broda introduced the new Traversa line specifically for the NEMT market.  The Traversa chair is the NEMT industry’s first alternative to traditional stretchers and gurneys. The Traversa can recline up to 90 degrees and tilt up to 20 degrees. Unlike stretchers and gurneys that require multiple operators, the Traversa wheelchair only requires one operator, resulting in significant labor cost savings for the NEMT service provider. The Traversa chair has been one of Broda’s most successful and popular new product launches. Broda Seating will be showing the new Traversa chair at the Vancouver Rehab Equipment Expo (REE) in Vancouver, British Columbia, on March 4. About Mity Inc.:   Mity Inc. is a designer and manufacturer of commercial furniture for a range of markets, including hospitality, convention center, restaurants, senior living, and religious institutions. Mity sells via its four brands: Mity-Lite, Holsag, Bertolini, and Broda. Mity is based in Orem, Utah, and also has operations in Lindsay, Ontario and Kitchener, Ontario.  Mity Inc. is a portfolio company of Prospect Capital Corporation (NASDAQ: PSEC), a publicly traded business development company with $7.2 billion of total assets as of December 31, 2024. For further information, contact: Kevin McCoy Kevin.McCoy@mityinc.com A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e149c090-efef-49c4-9971-b407c7ac393a

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