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 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.