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.
On January 4, 2022, Prospect Capital Corporation (PSEC) announced surpassing $450 million in preferred stock issuances since December 31, 2020. The offerings, which provide investors with recurring cash income and liquidity, have attracted various institutional investors. President Grier Eliasek highlighted strong support from channels including registered investment advisors and independent wealth firms. This press release serves informational purposes and does not constitute an offer to sell securities. Prospect aims to generate income and long-term capital appreciation through its investments.
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.