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.
On April 23, 2021, Prospect Capital Corporation (NASDAQ: PSEC) announced progress in its continuous preferred stock offering of up to 40 million shares with a $1 billion liquidation preference. Since the initial closing in December 2020, $80.6 million has been issued, including $19.7 million since mid-March 2021. The preferred stock offers a 5.5% annual dividend, paid monthly, and ranks senior to over $3.4 billion of common stock. It is convertible into common stock at the investor's discretion. The press release also emphasizes prospective returns and business development strategies.
Prospect Capital Corporation has initiated two cash tender offers to repurchase up to $30 million of outstanding 5.875% Senior Notes due 2023 and 6.375% Notes due 2024. The offers expire on May 5, 2021. The consideration for the 2023 Notes is $1,041.50 per $1,000 principal, and for the 2024 Notes, it is $1,075.00 per $1,000. Tendered notes can be withdrawn before the expiration date. D.F. King & Co., Inc. is the Information and Tender Agent for these offers.
Prospect Capital Corporation has completed its cash tender offer, expiring on March 29, 2021, to purchase outstanding 5.875% Senior Notes due 2023. A total of $726,000 of notes were validly tendered by the expiration time. The consideration for accepted notes will be $1,042.00 for each $1,000 principal, plus accrued interest. The settlement date for the transaction is projected to be March 11, 2021. This tender offer aims to enhance the company's financial flexibility while managing its debt portfolio.
Prospect Capital Corporation has launched a cash tender offer to purchase all outstanding 5.875% Senior Notes due 2023, totaling $285.78 million. The offer expires on March 29, 2021, with settlement expected by April 1, 2021. Each $1,000 principal amount of validly tendered notes will receive $1,042, plus accrued interest. The Tender Offer is not contingent on a minimum amount being tendered and allows for valid withdrawals until the expiration time. D.F. King & Co., Inc. acts as the Information and Tender Agent.
Prospect Capital Corporation announced the results of its cash tender offer to purchase outstanding 6.375% Notes due 2024. As of March 22, 2021, $647,000 in principal of the notes was validly tendered. The offer includes a consideration of $1,087.50 per $1,000 principal amount plus accrued interest, with a settlement date set for March 25, 2021. The company aims to optimize its financial structure through this transaction, facilitated by D.F. King & Co., Inc., the Information and Tender Agent.
Prospect Capital Corporation has initiated a cash tender offer to acquire up to $30 million of its outstanding 4.95% Senior Convertible Notes due 2022. The offer will expire on April 14, 2021. Each validly tendered note will be bought at a price of $1,020.00 per $1,000 principal amount, plus accrued interest. The company may purchase the notes after the expiration date, contingent on conditions being satisfied. If the total tendered exceeds $30 million, a proration factor will apply. Further details can be obtained through D.F. King & Co., Inc.
Prospect Capital Corporation announced a cash tender offer to purchase its outstanding 6.375% Senior Notes due 2024 with a total outstanding principal of $82,262,000. The offer will expire on March 22, 2021, unless extended. Each $1,000 principal amount of validly tendered notes will receive $1,087.50 plus accrued interest. The settlement date is expected to be March 25, 2021. The offer is not conditioned on a minimum amount of notes being tendered and may be amended, extended, or terminated at the company's discretion.
Prospect Capital Corporation announced the completion of its cash tender offer for its 5.875% Senior Notes due 2023. As of the expiration time on March 15, 2021, a total of $4,219,000 in aggregate principal amount of notes was validly tendered. The company will pay $1,042.50 per $1,000 principal amount of eligible notes, plus accrued interest, with settlement expected on March 18, 2021. The offer was made according to the terms set in the Offer to Purchase, which is available through the company's information agent, D.F. King & Co., Inc.
Prospect Capital Corporation (PSEC) reported raising $60.9 million through its preferred stock offering, part of a larger goal of $1 billion. The offering includes up to 40 million shares, with a 5.5% annual dividend rate paid monthly. The Preferred Stock is senior to over $3.4 billion of common stock and is convertible into common stock at the investor's discretion. This fundraising reflects strong investor demand, providing capital protection and liquidity.
Prospect Capital Corporation has initiated a cash tender offer for its 5.875% Senior Notes due 2023, totaling $290 million. The offer, made through an Offer to Purchase, will expire on March 15, 2021, unless extended. Validly tendered notes will receive $1,042.50 per $1,000 principal, plus accrued interest, with settlement expected on March 18, 2021. The Tender Offer is not contingent upon a minimum number of notes being tendered and can be amended or terminated at the company's discretion. D.F. King & Co., Inc. is the Information and Tender Agent.