Prospect Capital Stock Price, News & Analysis

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.

Prospect Capital Corporation has initiated a cash tender offer to purchase its 5.875% Senior Notes due 2023, amounting to $283,872,000. The offer will expire on October 21, 2022, with expected settlement on October 26, 2022. Each validly tendered note will receive $985.00, plus accrued interest. The offer is not contingent on a minimum amount being tendered and may be amended or extended by the company. This announcement serves informational purposes only and does not constitute a solicitation for securities.

On October 7, 2022, Prospect Capital Corporation (NASDAQ: PSEC) announced the addition of new 6.50% Series A3 and M3 Preferred Stock to its offering of up to $1.5 billion in non-traded preferred stock, currently with approximately $611 million available for sale. The total liquidation preference for all preferred stock offerings has exceeded $1 billion since December 2020. This stock provides a 6.5% annualized cash dividend, monthly payments, and liquidity options, appealing to investors seeking stable returns amid market challenges.

Prospect Capital Corporation announced the results of its cash Tender Offer to purchase outstanding senior notes due in 2023. As of the September 23, 2022 expiration, a total of $347,000 of the notes were validly tendered. The company plans to pay $980 per $1,000 principal amount of the accepted notes, along with accrued interest. The settlement date is projected to be September 28, 2022. For additional details, interested parties can contact D.F. King & Co., Inc., the information and tender agent for the offer.

On September 19, 2022, Prospect Capital Corporation announced a cash tender offer to purchase all outstanding 5.875% Senior Notes due 2023, totaling $284.2 million. The offer will expire on September 23, 2022, unless extended. Each $1,000 principal amount of Notes will be bought for $980.00 plus accrued interest. The settlement is expected on September 28, 2022. The company retains the right to amend or terminate the offer at any time. D.F. King & Co., Inc. is the agent for this tender.

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.