Prospect Capital Stock Price, News & Analysis

On September 9, 2022, Prospect Capital Corporation (NASDAQ: PSEC) reported that its preferred stock offerings exceeded $1 billion in aggregate liquidation preference since late 2020. Currently, approximately $645 million of Series A1, M1, and M2 Preferred Stock is available for sale. Additionally, Prospect announced an extension and upsizing of its revolving credit facility, effective September 15, 2022, increasing commitments from $1.500 billion to $1.584 billion from 44 lenders. The facility's term was extended for five years, securing significant funding for future investment opportunities.

Prospect Capital Corporation (PSEC) reported mixed financial results for the fiscal year ending June 30, 2022. Net Investment Income (NII) rose to $343.9 million, or $0.81 per share, up from $285.7 million, or $0.74 per share, in the previous year. However, net income applicable to common shareholders fell significantly to $556.6 million, or $1.43 per share, from $962.1 million, or $2.51 per share. Distributions remained stable at $0.72 per share. As of June 30, 2022, total investments increased to $7.6 billion, while Net Asset Value (NAV) per share reached $10.48. The company declared ongoing monthly distributions of $0.06 per share for September and October 2022, maintaining a robust yield of 9.2%.

Prospect Capital Corporation (NASDAQ: PSEC) has rescheduled its fourth-quarter financial results release to August 29, 2022. The Annual Report on Form 10-K for the fiscal year ended June 30, 2022, will be filed on this date. Additionally, the conference call to discuss these results has been moved to August 30, 2022, at 11:00 a.m. ET, with a dial-in number provided for participants. A live webcast will also be available, and a recording of the call will be accessible for 30 days following the event.

Prospect Capital Corporation (NASDAQ: PSEC) plans to file its Form 10-K on August 24, 2022, reporting fiscal results for the year ended June 30, 2022. The earnings announcement will coincide with the filing, occurring after market closure. Following this, a conference call is scheduled for August 25, 2022, at 12:00 p.m. ET. Interested parties can join via a dial-in number, and a recording will be accessible for 30 days. Prospect Capital focuses on private business lending, aiming for current income and long-term capital growth.

Prospect Capital Corporation (NASDAQ: PSEC) raised over $100 million in its recent closing of the Series A1, M1, and M2 Preferred Stock offerings, totaling approximately $687 million sold to date. The offering size increased from $1 billion to $1.5 billion, now allowing for $813 million more to be sold. Since December 2020, these Preferred Stock issuances have exceeded $840 million. The company's President highlighted the recurring cash income and liquidity benefits of the preferred stock. The offering is managed by Preferred Capital Securities LLC, which has raised about $3 billion since 2011.

On June 9, 2022, Prospect Capital Corporation (NASDAQ: PSEC) announced an increase in its Series A1, M1, and M2 Preferred Stock offering from $1 billion to $1.5 billion. Approximately $565 million has already been raised, leaving $935 million available. This initiative has collectively exceeded $700 million in aggregate liquidation preference since December 2020. President Grier Eliasek emphasized the stable cash income and liquidity of these offerings. Preferred Capital Securities LLC is the dealer manager for this offering, having raised approximately $3 billion since 2011.

Prospect Capital Corporation (NASDAQ: PSEC) reported its financial results for the third quarter ended March 31, 2022. Net Investment Income (NII) rose to $87 million, with basic NII per share at $0.22. Net Income applicable to common stockholders reached $157 million, down from $246 million year-on-year. The company declared monthly distributions of $0.06 per share for four consecutive months, yielding 9.2% based on a closing stock price of $7.81. NAV increased to $10.81 per share. Prospect has invested $18.7 billion across 394 investments since its inception in 2004.

Prospect Capital Corporation (NASDAQ: PSEC) has rescheduled its conference call to Tuesday, May 10, 2022, at 4:00 p.m. ET, originally set for 11:00 a.m. The call will follow the release of its Form 10-Q for the fiscal quarter ended March 31, 2022, which is expected to be filed after market close on May 9, 2022. A recording of the call will be available for 30 days. Investors can tune in through the company’s website for a live listen-only webcast and access an audio replay afterward.

Prospect Capital Corporation (NASDAQ: PSEC) will file its Form 10-Q for the fiscal quarter ended March 31, 2022, on May 9, 2022, after market close. The earnings press release will also be issued on the same day.

A conference call is scheduled for May 10, 2022, at 11:00 a.m. Eastern Time, with the dial-in number 888-338-7333. A replay will be available for 30 days. The call can also be accessed via a live webcast on the company’s website.