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 leading closed-end investment company based in the United States, focusing on generating current income and long-term capital appreciation through flexible private debt and equity investments. As an investment advisor, Prospect Capital Management L.P. guides PSEC under the Investment Company Act of 1940, making it a Business Development Company (BDC).
Prospect Capital Corporation primarily invests in senior and subordinated debt and equity of private companies for a variety of financial situations. These include acquisitions, divestitures, growth, development, and recapitalizations. The company's investment portfolio is diverse, encompassing private equity, sponsored transactions, direct company investments, structured credit, real estate, and syndicated debt.
In recent developments, PSEC has reported financial results for the fiscal quarter ended September 30, 2023. The company announced monthly distributions to its 6.50% preferred shareholders at an annual rate of 6.50% of the stated value of $25.00 per share. As of September 30, 2023, PSEC held over $1.6 billion in preferred stock outstanding, demonstrating substantial financial strength and liquidity.
In its portfolio, PSEC has invested in subordinated structured notes benefiting from individual standalone financings non-recourse to Prospect. This strategy limits risk to the net investment. For the September 2023 quarter, PSEC showcased substantial term debt issuance and repurchase/repayment activity, bolstering its capital and liquidity position. Additionally, PSEC's middle-market loan portfolio continues to perform well, with weighted average EBITDA and net leverage metrics indicating strong financial health.
Prospect Capital Corporation maintains active communication with its investors. For instance, the company hosts regular earnings conference calls, providing detailed updates on financial performance and investment activities. The next earnings call is scheduled for November 9, 2023, at 10:30 a.m. Eastern Time.
Overall, Prospect Capital Corporation stands out for its robust investment strategies and commitment to delivering value to its shareholders through disciplined financial management and strategic investment decisions.
On March 28, 2022, Prospect Capital Corporation (NASDAQ: PSEC) announced that its preferred stock offerings have amassed approximately $600 million in aggregate liquidation preference since December 31, 2020. According to President Grier Eliasek, the preferred stock provides investors with recurring cash income, stability, and over $4 billion in junior common equity credit support. The offering involves Series A1, M1, and M2 Preferred Stock managed by Preferred Capital Securities LLC.
Prospect Capital Corporation (NASDAQ: PSEC) has announced that its preferred stock offerings have surpassed $550 million in total liquidation preference since late 2020. The President, Grier Eliasek, highlighted the benefits of these investments, including recurring cash income and robust equity support exceeding $4 billion. The offerings cater to various investor channels, including institutional and independent wealth managers. The ongoing offering includes Series A1, M1, and M2 Preferred Stock, managed by Preferred Capital Securities LLC.
Prospect Capital Corporation (PSEC) reported its Q2 financial results for the period ending December 31, 2021. Net Investment Income (NII) reached $85.6 million, with a basic NII per share of $0.22. Total income amounted to $175.4 million. Net income applicable to common stockholders was $246.4 million, translating to a basic net income per share of $0.63. The company declared monthly cash distributions of $0.06 per share, maintaining an annual yield of 8.6%. Total investments at fair value increased to $7 billion, reflecting strong performance in originations and a focus on enhancing NII growth through strategic initiatives.
Refuel Agency, based in Santa Barbara, has integrated with Thinking Cap Agency, enhancing its offerings in higher education marketing. This new collaboration aims to tackle enrollment challenges faced by institutions, focusing on military, teen, college, and multicultural markets. Thinking Cap, renowned for its proprietary research and marketing solutions, will benefit from Refuel's extensive audience engagement. The headquarters for Thinking Cap will remain in Princeton, NJ, while Refuel continues its operations in California.
Prospect Capital Corporation (NASDAQ: PSEC) has reported that its preferred stock offerings have surpassed $500 million in total liquidation preference since December 31, 2020. The preferred stock provides investors with recurring cash income and support from nearly $4 billion of junior common equity. Prospect's diverse investor base includes institutional and international channels, emphasizing broad market appeal. The ongoing offerings are managed by Preferred Capital Securities LLC.
Prospect Capital Corporation (PSEC) announced it will file its Form 10-Q report for the fiscal quarter ending December 31, 2021, on February 8, 2022, after market close. The earnings press release will also be issued on the same date. A conference call will follow on February 9, 2022, at 11:00 a.m. ET, offering investors insights into the company's performance. PSEC focuses on lending and investing in private businesses, aiming to generate income and long-term capital appreciation.
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.
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