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 (PSEC) provides investors and financial professionals with a centralized source for verified news and regulatory disclosures. This page aggregates all official announcements, including earnings reports, strategic partnerships, and portfolio updates from the leading business development company.
Access real-time insights into PSEC's middle market lending activities, including first lien senior secured loans and mezzanine debt transactions. Track the company's investments across multiple industries through press releases detailing acquisitions, recapitalizations, and management changes.
Key updates include quarterly financial results, dividend declarations, SEC filings, and operational milestones. All content is curated to meet investor needs for timely, accurate information about PSEC's yield-oriented strategies and portfolio performance.
Bookmark this page for streamlined access to Prospect Capital's evolving financial narrative. Combine our news archive with independent analysis to inform your investment research process.
Prospect Capital Corporation has initiated a cash tender offer for up to $30,000,000 of its 4.95% Senior Convertible Notes due 2022. The tender offer, expiring on March 2, 2021, aims to purchase notes with a total outstanding principal amount of $136,228,000. Investors will receive $1,030.00 for each validly tendered $1,000 principal amount, plus accrued interest. If total tenders exceed the $30 million target, proration will apply. D.F. King & Co., Inc. is the appointed Information and Tender Agent.
Prospect Capital Corporation (NASDAQ: PSEC) announced the pricing of $325 million in 3.706% notes maturing on January 22, 2026. Interest on the notes will be paid semi-annually starting July 22, 2021. The proceeds aim to refinance existing debt, including redeeming 6.25% Notes due 2024, and to enhance liquidity for future investments. Barclays, RBC Capital Markets, and Goldman Sachs are joint book-running managers, with the closing expected on January 22, 2021. Investors should review the associated prospectus for risks and detailed information.
Prospect Capital Corporation announced a cash tender offer to buy up to $20 million of its 6.375% Convertible Notes due 2025. The offer will expire at 12:00 midnight on January 27, 2021. For each $1,000 principal amount of Notes tendered, the payment will be $1,110 plus accrued interest. If more than $20 million is tendered, a proration factor will apply. The offer is not contingent on a minimum amount of Notes being tendered and could be amended or terminated by the company at any time.
Prospect Capital Corporation (NASDAQ: PSEC) has acquired $25 million in first lien senior secured floating rate notes to support the recapitalization of KM2 Solutions, LLC, led by H.I.G. Capital. KM2 specializes in business process outsourcing, serving finance and healthcare markets. This marks the 30th financing collaboration between Prospect and H.I.G. According to Jason Wilson from Prospect, this investment validates KM2's customer value proposition, and the company aims to enhance its growth initiatives under new management.
Prospect Capital Corporation announced a cash tender offer for its outstanding 4.95% Senior Convertible Notes due 2022, totaling $162,922,000. The offer will expire on January 15, 2021, with a purchase price of $1,035.00 per $1,000 principal amount of notes tendered, plus accrued interest. This tender offer is not conditioned on minimum participation and gives holders the option to withdraw their tendered notes before the expiration date. The company has engaged D.F. King & Co., Inc. as the tender agent.
Prospect Capital Corporation (NASDAQ: PSEC) has announced the acquisition of $29 million in first lien senior secured floating rate notes to finance the recapitalization of Thermal Product Solutions, Inc. (TPS). TPS, a leading manufacturer of industrial ovens and test chambers, has been in operation since 1912, serving major Fortune 500 companies. The financing aims to enhance TPS's growth across various sectors, including aerospace and pharmaceuticals. The collaboration is built on Prospect's extensive experience in the capital equipment industry.
Prospect Capital Corporation (Nasdaq: PSEC) announced its annual meeting of stockholders will be held virtually on December 2, 2020, at 3:30 p.m. EST due to COVID-19 safety concerns. Stockholders must use a 16-digit control number to participate in the meeting via webcast. Those holding shares in 'street name' should follow their broker’s instructions for obtaining this number. The meeting agenda remains unchanged from the previously mailed proxy statement dated September 28, 2020. Stockholders are encouraged to vote in advance and attend the meeting early.
Prospect Capital Corporation announced cash tender offers for up to $30 million of its 5.875% Senior Notes due 2023 and $10 million of its 6.375% Notes due 2024. The offers expire on December 16, 2020. Holders of 2023 Notes will receive $1,050 per $1,000 principal amount, while those with 2024 Notes will receive $1,080. The company retains the right to amend or terminate the offers. Validly tendered notes can be withdrawn prior to the expiration date.
Prospect Capital Corporation (PSEC) reported Q1 fiscal 2021 net investment income of $57.5 million, or $0.15 per share, down from $71.1 million or $0.19 per share year-over-year. Total net income surged to $167.7 million from $18.1 million a year prior, with per share net income at $0.45. Distributions remain stable at $0.18 per share. Notably, NAV increased to $8.40 from $8.18 quarter-over-quarter. PSEC announced cash distributions of $0.06 per share for the next three months, yielding 14.5% based on a share price of $4.97. The company plans to enhance NII through various strategic initiatives.
Prospect Capital Corporation (NASDAQ: PSEC) will file its Form 10-Q on November 9, 2020, detailing fiscal Q1 results ending September 30, 2020. The earnings press release will also be issued on the same day post-market close.
A conference call is scheduled for November 10, 2020, at 11:00 a.m. ET. Investors can participate via dial-in or listen to a live webcast on the company’s website.
