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.
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Catalent, Inc. (NYSE: CTLT) has appointed Joseph A. Ferraro as its Senior Vice President, General Counsel, Chief Compliance Officer, and Secretary, based in Somerset, New Jersey. Mr. Ferraro brings extensive experience from his tenure at Innovate Corp. (NYSE: VATE) and Prospect Capital (NASDAQ: PSEC), where he managed global legal and compliance operations, including significant M&A transactions. He will lead Catalent's legal and compliance teams and report to Steven Fasman, Chief Administrative Officer. This strategic appointment is expected to enhance Catalent's legal oversight as it navigates the highly regulated life sciences market.
Prospect Capital Corporation (PSEC) reported its financial results for the fiscal quarter ending December 31, 2022, showing a net investment income of $106.7 million, up from $99.3 million in the previous quarter. The basic net income per common share was $0.14, compared to a loss of $0.27 in the prior quarter. PSEC declared monthly distributions of $0.06 per share for February, March, and April 2023, yielding an annualized distribution of 9.6%. The net asset value per common share decreased to $9.94 from $10.01. The debt-to-equity ratio improved to 49.4%, with a significant focus on enhancing net investment income through strategic debt offerings and investments.
Prospect Capital Corporation (NASDAQ: PSEC) announced it will file its Form 10-Q for the fiscal quarter ending December 31, 2022, on February 8, 2023, after market close. An earnings press release will accompany this filing. The company will also host a conference call on February 9, 2023, at 9:30 a.m. ET, with dial-in information provided. A live audio webcast will be available on the company’s website, along with a replay for 30 days. Prospect Capital focuses on lending to and investing in private businesses, aiming for both current income and long-term capital appreciation.
Prospect Capital Corporation (NASDAQ: PSEC) held its annual meeting of stockholders on December 2, 2022, where key proposals were discussed. As of September 12, 2022, the company had approximately 394.8 million shares of common stock and various preferred stocks outstanding. To allow more time for stockholder votes, the meeting was adjourned until December 9, 2022, at 10:30 a.m. ET. The company is a business development entity focused on lending and investing in private firms, aiming for both current income and long-term capital appreciation.
Prospect Capital Corporation has initiated a cash tender offer for its outstanding 5.875% Senior Notes due 2023 totaling $282,364,000. The offer will close on November 18, 2022, with a proposed settlement date on November 23, 2022. Holders can receive $987.50 per $1,000 principal, plus accrued interest. The offer is not dependent on a minimum amount of notes being tendered and may be amended or extended by the company. D.F. King & Co., Inc. is acting as the Information and Tender Agent.
Prospect Capital Corporation (PSEC) reported its financial results for the quarter ending September 30, 2022. Net Investment Income (NII) increased to $99,266,000, with a basic NII per share of $0.22. However, the company recorded a net loss of $(105,199,000), translating to a basic net loss per share of $(0.27). The Net Asset Value (NAV) per common share decreased to $10.01. Distributions to common shareholders remain steady at $0.18 per share. The company declared cash distributions for November 2022 through January 2023, maintaining a 9.8% annualized distribution yield based on recent stock prices.
Prospect Capital Corporation (NASDAQ: PSEC) will file its Form 10-Q report for Q4 ending September 30, 2022, on November 9, 2022, after market close. An earnings press release will follow the same day. A conference call is scheduled for November 10, 2022, at 11:00 a.m. ET, with dial-in options provided. Interested parties can also listen via webcast on the company's website. Prospect Capital focuses on debt and equity investments in private businesses, aiming for current income and long-term capital appreciation.
On October 24, 2022, Prospect Capital Corporation announced the results of its cash tender offer for its outstanding 5.875% Senior Notes due 2023. The offer, which expired on October 21, 2022, saw a total of $1,508,000 of notes tendered out of an outstanding principal of $283,872,000. Eligible notes will be purchased at $985.00 for each $1,000 principal amount, plus accrued interest, with a settlement date expected on October 26, 2022. The company is proceeding with the tender offer under the terms outlined in its Offer to Purchase.