Prospect Capital Stock Price, News & Analysis

Prospect Capital Corporation (NASDAQ: PSEC) will file its Form 10-Q on November 9, 2020, detailing fiscal Q1 results ending September 30, 2020. The earnings press release will also be issued on the same day post-market close.

A conference call is scheduled for November 10, 2020, at 11:00 a.m. ET. Investors can participate via dial-in or listen to a live webcast on the company’s website.

Prospect Capital Corporation has initiated a cash tender offer to purchase all outstanding 4.95% Senior Convertible Notes due in 2022, totaling $222,785,000. The offer expires at midnight on November 17, 2020, with a consideration of $1,026.25 per $1,000 principal, plus accrued interest. Validly tendered notes can be withdrawn before the expiration. The settlement is expected within three business days following the expiration, contingent on conditions being met. D.F. King & Co., Inc. is the appointed Information and Tender Agent for the notes.

Prospect Capital Corporation has initiated a cash tender offer for its outstanding 4.95% Senior Convertible Notes due 2022, totaling $228.82 million. This offer, which is set to expire on October 2, 2020, will allow holders to exchange $1,010 principal amount of notes for $1,000, plus accrued interest. The company anticipates the settlement date to occur within three business days following this expiration, contingent upon all conditions being satisfied or waived. The tender offer is not conditional on a minimum number of notes being tendered.

Prospect Capital Corporation (PSEC) reported financial results for its fiscal year ending June 30, 2020. Net Investment Income (NII) totaled $265.7 million, down from $312.9 million year-over-year, with NII per share at $0.72. The net loss was $16.2 million, or $0.04 per share, contrasting with a profit of $144.5 million the previous year. Despite lower NII, the company declared regular distributions of $0.18 per share, maintaining a 13.9% annualized yield. As of June 30, 2020, NAV per share decreased to $8.18 from $9.01 a year earlier. Total investments reached $5.23 billion, while insider ownership increased to over 27%.

Prospect Capital Corporation (NASDAQ: PSEC) announced it will file its Form 10-K report for the fiscal year ending June 30, 2020, on August 26, 2020, after market close. An earnings press release will accompany this filing. The company will host a conference call on August 27, 2020, at 11:00 a.m. ET, with a dial-in number of 888-338-7333. A replay will be available for 30 days. The conference call can also be accessed via a webcast on the company’s website.

On August 3, 2020, Prospect Capital Corporation (NASDAQ: PSEC) announced a continuous preferred stock offering of up to 40 million shares, totaling a $1 billion aggregate liquidation preference. Each share will be priced at $25.00, with a 5.50% annual dividend rate paid monthly, providing an annual yield of 5.64%. The proceeds aim to enhance balance sheet liquidity, repay debt, and invest in high-quality short-term debt instruments. The offering is designed to deliver attractive risk-adjusted returns to investors while enhancing common stock value.

Prospect Capital Corporation announced a cash tender offer to purchase up to $100,000,000 of its 4.95% Senior Convertible Notes due 2022. The offer will expire on August 20, 2020, and the company will pay $1,000 for each $1,000 principal amount of validly tendered notes, plus accrued interest. If the total tendered amount exceeds $100 million, proration will apply. The company has retained D.F. King & Co., Inc. as the Information and Tender Agent. This tender offer is not contingent on a minimum amount being tendered, and certain fees may apply to retail brokers.

Prospect Capital Corporation (PSEC) reported its Q3 2020 financial results, posting a net investment income (NII) of $68.5 million, or $0.19 per share, a slight increase from the previous quarter. However, the company faced a net loss of $185.7 million, equating to $(0.51) per share, primarily due to unrealized depreciation. Its net asset value per share fell to $7.98, marking a 7.9% decrease. Despite these challenges, PSEC continues to maintain solid distributions, declaring $0.06 per share for May through August 2020, yielding 17.6% based on a closing price of $4.08.

Prospect Capital Corporation (PSEC) announced it will file its Form 10-Q with the SEC on May 11, 2020, revealing results for the fiscal third quarter ending March 31, 2020. An earnings press release will also be available on that date. A conference call is scheduled for May 12, 2020, at 11:00 a.m. ET, with dial-in and web streaming options provided. The company focuses on debt and equity investments in private businesses, aiming for current income and long-term capital appreciation.