Prospect Capital Corporation Preferred Stock Offering Issuances Exceed $300 Million Across Institutional, Registered Investment Advisor, Wirehouse, and Independent Private Wealth Investors
August 02 2021 - 6:00AM
Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”, “our”, or
“we”) announced today that Prospect’s preferred stock offerings
(collectively, the "Preferred Stock") have exceeded $300 million in
aggregate liquidation preference issuances since the initial
closing in the quarter ending December 31, 2020.
"Prospect's Preferred Stock has been sold across institutional,
registered investment advisor, wirehouse, and independent private
wealth investor channels, with significant demand due to the
Preferred Stock's investor-friendly attributes that include credit
support, liquidity, and income," said Grier Eliasek, President of
Prospect.
On July 12, 2021, Prospect announced the pricing of an
underwritten public offering of $150 million in aggregate
liquidation preference of Series A Preferred
Stock. Morgan Stanley, RBC Capital Markets, and UBS Investment
Bank acted as joint book-running managers for this offering.
Goldman Sachs & Co. LLC acted as lead manager for this
offering. Ladenburg Thalmann, InspereX, Wedbush Securities, and
William Blair acted as co-managers for this offering.
PCS 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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