Prospect Capital Stock Price, News & Analysis

Prospect Capital Corporation (NASDAQ: PSEC) announced that its preferred stock offerings have surpassed $400 million in aggregate liquidation preference since December 2020. The preferred stock is designed to provide investors with recurring cash income, a stable stated value, and access to nearly $4 billion in junior common equity credit support. Various investment channels, including institutional and independent wealth investors, have participated in these offerings. The release serves as informational and does not constitute an offer to buy these securities.

Prospect Capital Corporation (PSEC) reported strong financial results for the fiscal quarter ending September 30, 2021, with Net Investment Income (NII) of $81.4 million, translating to $0.21 per share. Total investments rose to $6.43 billion, with a Net Asset Value (NAV) per share of $10.12. Shareholders received $70 million in distributions, maintaining a consistent payout of $0.18 per share. The company declared monthly distributions of $0.06 for November 2021 through January 2022, yielding 8.6%. Notably, since October 2017, NII has exceeded distributions by $0.27 per share.

Prospect Capital Corporation (NASDAQ: PSEC) announced plans to file its Form 10-Q for the fiscal quarter ending September 30, 2021, on November 8, 2021, before market opening. An earnings press release will also be issued on the same day.

A conference call is scheduled for November 8 at 11:00 a.m. ET, with dial-in and webcast options available. The company operates as a business development firm focused on lending to private businesses, aiming for both current income and long-term capital appreciation through various investments.

Prospect Capital Corporation announced the results of its cash tender offer for outstanding notes, which expired on October 15, 2021. A total of $149,000 of notes were validly tendered. The company will pay $1,077.50 for each $1,000 principal amount of the eligible 6.375% Notes due 2024, plus any accrued interest, with a settlement date expected on October 20, 2021. D.F. King & Co., Inc. is serving as the Information and Tender Agent for the offering. This press release is informational and does not constitute a purchase offer.

Prospect Capital Corporation has initiated a cash tender offer to acquire all outstanding 6.375% Senior Notes due 2024, totaling $81,389,000. The Tender Offer will conclude on October 15, 2021, with settlement expected on October 20, 2021. Each validly tendered note will receive $1,077.50 plus accrued interest. A withdrawal option is available until the expiration. The company retains the right to amend, extend, or terminate the offer at its discretion.

Prospect Capital Corporation (NASDAQ: PSEC) has announced that its preferred stock offerings surpassed $350 million in aggregate liquidation preference since December 31, 2020. President Grier Eliasek noted substantial demand for the Preferred Stock, attributed to its appealing features, including credit support, liquidity, and income potential. PCS Capital Securities LLC manages the ongoing offering of Series A1, M1, and M2 Preferred Stock. As a business development company, Prospect aims to achieve current income and long-term capital appreciation through its investments.

Prospect Capital Corporation (NASDAQ: PSEC) has announced the pricing of $300 million in 3.437% notes due October 15, 2028. The notes will bear interest payable semi-annually, with the first payment on April 15, 2022. Proceeds from this offering will primarily refinance existing debt and support balance sheet liquidity, including investments in quality short-term debt instruments. The offering is expected to close on September 30, 2021, subject to customary conditions. Investors should review the related prospectus for details on the risks and objectives before investing.

Prospect Capital Corporation has launched a cash tender offer to buy up to $60 million of its 4.95% Senior Convertible Notes due 2022, which are currently valued at $111.05 million. The offer expires on September 24, 2021, with the consideration set at $1,025 per $1,000 principal amount plus accrued interest. If more than $60 million of notes are tendered, proration will apply. The company retains the right to amend or terminate the offer. The Information and Tender Agent is D.F. King & Co., Inc.

Prospect Capital Corporation (NASDAQ: PSEC) announced its financial results for the fiscal year ending June 30, 2021, reporting a net investment income of $285.7 million, up from $265.7 million in 2020. The net income attributable to stockholders was $962.1 million compared to a loss of $16.2 million the previous year. The company declared monthly distributions of $0.06 per share, maintaining an annualized distribution yield of 8.9%. Total investments increased to $6.2 billion, with a debt to equity ratio of 55.9%. NAV per common share improved to $9.81, reflecting strong operational performance.