Issuances in Prospect Capital Corporation Preferred Stock Offerings Exceed $550 Million Across Institutional, Registered Investment Advisor, Wirehouse, Independent Private Wealth, and International Investors
March 11 2022 - 7:01AM
Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”, “our”, or
“we”) announced today that Prospect’s preferred stock offerings
(collectively, the "Preferred Stock") have exceeded $550 million in
aggregate liquidation preference issuances since the initial
closing in the quarter ending December 31, 2020.
“Prospect’s preferred stock offers investors recurring cash
income with a stable stated value, ongoing
liquidity, management alignment, leverage caps, and over
$4 billion of junior common equity credit support," said Grier
Eliasek, President of Prospect. "Each of the institutional,
registered investment advisor, wirehouse, independent private
wealth, and international investor channels have invested in
Prospect’s preferred stock."
Preferred Capital Securities LLC (“PCS”) is a securities broker
dealer and the dealer manager for the ongoing offering of the
Series A1, M1, and M2 Preferred Stock.
This press release is for informational purposes and is not an
offer to purchase or sell or a solicitation of an offer to buy
these securities, nor shall there be any sale of these securities
in any state or jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of such state or jurisdiction. The ongoing
offering of the Series A1, M1, and M2 Preferred Stock is being
made only by means of the prospectus supplement and the
accompanying prospectus, copies of which may be obtained by writing
to PCS at 3284 Northside Parkway NW, Suite 150, Atlanta, GA
30327.
About Prospect Capital Corporation
Prospect Capital Corporation is a business development company
that focuses on lending to and investing in private businesses.
Prospect’s investment objective is to generate both current income
and long-term capital appreciation through debt and equity
investments.
Prospect has elected to be treated as a business development
company under the Investment Company Act of 1940 (“1940 Act”).
Prospect is required to comply with a series of regulatory
requirements under the 1940 Act as well as applicable NASDAQ,
federal and state rules and regulations. We have elected to be
treated as a regulated investment company under the Internal
Revenue Code of 1986.
Caution Concerning Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, whose safe harbor for forward-looking statements does not
apply to business development companies. Any such statements, other
than statements of historical fact, are highly likely to be
affected by other unknowable future events and conditions,
including elements of the future that are or are not under our
control, and that we may or may not have considered; accordingly,
such statements cannot be guarantees or assurances of any aspect of
future performance. Actual developments and results are highly
likely to vary materially from any forward-looking statements. Such
statements speak only as of the time when made, and we undertake no
obligation to update any such statement now or in the future.
For further information, contact:Grier Eliasek, President and
Chief Operating Officergrier@prospectcap.comTelephone (212)
448-0702
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