Welcome to our dedicated page for Prospect Capital news (Ticker: PSEC), a resource for investors and traders seeking the latest updates and insights on Prospect Capital stock.
Prospect Capital Corporation (NASDAQ: PSEC) is a closed-end investment company that publicly reports on its lending and investment activities, capital structure and shareholder distributions. News about PSEC often centers on its middle market lending strategy, real estate investments through National Property REIT Corp. (NPRC), and portfolio activity across private companies in multiple industries.
Company press releases and Form 8-K filings provide regular updates on financial results, including net investment income, net income or loss applicable to common shareholders, distributions to common shareholders, net asset value to common shareholders and portfolio composition. Prospect also announces monthly cash distributions to common shareholders and dividends on its various series of preferred stock, detailing record dates, payment dates and per-share amounts.
Investors following PSEC news will see coverage of institutional funding transactions, such as the pricing and issuance of 5.5% Series A senior unsecured Notes due 2030 and their expected listing on the Tel Aviv Stock Exchange. The company also reports on capital and liquidity metrics, including its revolving credit facility, program notes and other unsecured debt, as well as the retirement of existing debt maturities.
Prospect’s news flow includes portfolio developments, such as the acquisition of QC Holdings, Inc., a provider of consumer credit, and new investments in companies like Healthcare Venture Partners, LLC and Verify Diagnostics LLC. Updates on real estate exits and performance at NPRC, along with information on non-accrual loans and yields across the portfolio, are also disclosed. For shareholders, announcements about the annual and special meetings, proxy materials and voting procedures provide insight into governance and stockholder engagement.
By monitoring this PSEC news page, readers can review the company’s official communications on earnings, distributions, capital raising, portfolio transactions and corporate actions as they are released.
Prospect Capital Corporation (NASDAQ: PSEC) will file its Form 10-K report for the fiscal year ended June 30, 2021, on August 24, 2021, after market close. Alongside this, the company plans to release its earnings report on the same day. A conference call is scheduled for August 25, 2021, at 11:00 a.m. ET, with a dial-in number provided for participants. The call will also be available via webcast, with a replay accessible for 30 days. Prospect Capital Corporation is a business development company focusing on investments in private businesses.
Prospect Capital Corporation (NASDAQ: PSEC) has announced that its preferred stock offerings surpassed $300 million in aggregate liquidation preferences since December 31, 2020. The company has attracted strong demand from various investor channels due to favorable attributes such as credit support and liquidity. On July 12, 2021, Prospect priced a public offering of $150 million in Series A Preferred Stock, managed by top financial firms including Morgan Stanley and UBS Investment Bank. This press release serves informational purposes and doesn't constitute a sale offer of securities.
On July 29, 2021, Prospect Capital Corporation (PSEC) announced funding commitments totaling $202 million to PGX Holdings, Inc. (Progrexion). This includes a $49 million first lien senior secured floating rate term loan and a $153 million second lien senior secured floating rate term loan. Progrexion, a leader in the U.S. consumer credit repair market, aids consumers in correcting inaccuracies in their credit reports. This funding marks the 12th financing since H.I.G. Capital acquired Progrexion in 2010, showcasing Prospect's capability and commitment to flexible financing solutions.
Prospect Capital Corporation (NASDAQ: PSEC) announced the pricing of a public offering of 6 million shares of its newly designated 5.35% Series A Fixed Rate Cumulative Perpetual Preferred Stock at $25.00 per share, totaling $150 million. The offering will close on July 19, 2021, subject to customary conditions. The company aims to use the proceeds for maintaining balance sheet liquidity, including debt repayment and investments in high-quality short-term debt instruments. Morgan Stanley, RBC Capital Markets, and UBS Investment Bank are the joint book-running managers.
Prospect Capital Corporation (NASDAQ: PSEC) has provided a $55 million first lien senior secured floating rate term loan to support the acquisition of Enseo Holdings, Inc. by an affiliate of H.I.G. Capital. Enseo is a leading U.S. provider of customer experience management technology, catering to sectors such as hospitality, education, and healthcare. The firm boasts over 21 years of experience and serves more than 85 million users annually. This marks the 31st financing collaboration between Prospect and H.I.G., highlighting Prospect's commitment to flexible financing solutions in strategic investments.
On June 1, 2021, Prospect Capital Corporation (NASDAQ: PSEC) announced the successful issuance of $105.9 million in preferred stock across multiple series since December 2020. The preferred stock features a 5.5% annual dividend, paid monthly, yielding 5.64% annually, and ranks senior to $3.6 billion of common stock. The offering has attracted significant investor interest from various channels. PCS Capital Securities LLC manages the ongoing offering, while UBS Securities LLC underwrote the recently completed Series A2 offering. The press release emphasizes its informational nature and compliance with regulatory requirements.
Prospect Capital Corporation (PSEC) announced the pricing of $300 million in 3.364% notes due November 15, 2026. The notes will bear interest payable semi-annually and are senior unsecured obligations, ranking equally with existing debts. Proceeds will primarily refinance existing debt, including redemption of 6.25% Senior Notes due 2028. The transaction is managed by RBC Capital Markets, Goldman Sachs & Co. LLC, and Barclays, with expected closure on May 27, 2021. Investors should review associated prospectuses for further details.
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Prospect Capital Corporation (PSEC) reported its fiscal results for the quarter ending March 31, 2021, revealing a net income of $246 million, translating to $0.64 per share. Net Investment Income stood at $73.4 million, or $0.19 per share, with a distribution of $0.18 per share to common shareholders. The company declared future monthly distributions of $0.06 per share, maintaining a consistent payout. Its net asset value increased to $3.63 billion, with a NAV per share of $9.38. The firm has implemented several initiatives to boost NII per share, including a $1 billion preferred stock offering.
Prospect Capital Corporation (NASDAQ: PSEC) announced plans to file its Form 10-Q for the fiscal third quarter ending March 31, 2021, on May 10, 2021, after market close. An earnings press release will also be issued the same day. Additionally, a conference call is scheduled for May 11, 2021, at 11:00 a.m. ET, where investors can participate by dialing 888-338-7333 or via a live webcast. The company focuses on lending to and investing in private businesses for current income and long-term capital appreciation.