Prospect Capital Stock Price, News & Analysis

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.

Prospect Capital Corporation (NASDAQ: PSEC) will file its Form 10-K report for the fiscal year ended June 30, 2021, on August 24, 2021, after market close. Alongside this, the company plans to release its earnings report on the same day. A conference call is scheduled for August 25, 2021, at 11:00 a.m. ET, with a dial-in number provided for participants. The call will also be available via webcast, with a replay accessible for 30 days. Prospect Capital Corporation is a business development company focusing on investments in private businesses.

Prospect Capital Corporation (NASDAQ: PSEC) has announced that its preferred stock offerings surpassed $300 million in aggregate liquidation preferences since December 31, 2020. The company has attracted strong demand from various investor channels due to favorable attributes such as credit support and liquidity. On July 12, 2021, Prospect priced a public offering of $150 million in Series A Preferred Stock, managed by top financial firms including Morgan Stanley and UBS Investment Bank. This press release serves informational purposes and doesn't constitute a sale offer of securities.

On July 29, 2021, Prospect Capital Corporation (PSEC) announced funding commitments totaling $202 million to PGX Holdings, Inc. (Progrexion). This includes a $49 million first lien senior secured floating rate term loan and a $153 million second lien senior secured floating rate term loan. Progrexion, a leader in the U.S. consumer credit repair market, aids consumers in correcting inaccuracies in their credit reports. This funding marks the 12th financing since H.I.G. Capital acquired Progrexion in 2010, showcasing Prospect's capability and commitment to flexible financing solutions.