Prospect Capital Corporation Announces Results of Cash Tender Offer For Any and All of its Outstanding 5.875% Senior Notes due 2023
November 21 2022 - 6:58AM
Prospect Capital Corporation (the “Company”) today announced the
results of its previously announced cash tender offer (the “Tender
Offer”) to purchase any and all of the outstanding notes listed
below. The Tender Offer was made pursuant to an Offer to Purchase
dated November 14, 2022 (the “Offer to Purchase”), which set forth
the terms and conditions of the Tender Offer.
As of the previously announced expiration time of 5:00 p.m., New
York City time, on November 18, 2022 (the “Expiration Time”),
according to information provided by D.F. King & Co., Inc., the
information and tender agent for the Tender Offer, a total of
$249,000 aggregate principal amount of Notes (defined below) had
been validly tendered and not validly withdrawn in the Tender
Offer. Withdrawal rights for the Notes expired at 5:00 p.m., New
York City time, on November 18, 2022. The table below sets forth
the aggregate principal amount and percentage of the Notes validly
tendered and not validly withdrawn by the Expiration Time that will
be accepted for purchase by the Company (the “Eligible Notes”).
Title of Security |
CUSIP / ISIN Nos. |
Outstanding Principal Amount |
Principal Amount Tendered |
5.875% Senior Notes due 2023 (the “Notes”) |
74348TAJ1 / US74348TAJ16 |
$282,364,000 |
$249,000 |
The consideration to be paid for the Eligible Notes is $987.50
for each $1,000 principal amount of Eligible Notes, plus accrued
and unpaid interest on the Eligible Notes, if any, from the
applicable last interest payment date up to, but not including, the
settlement date, which date is expected to be November 23,
2022.
The Company has retained D.F. King & Co., Inc. to serve as
the Information and Tender Agent for the Notes in the Tender
Offer.
The Tender Offer is being made pursuant to the terms and
conditions contained in the Offer to Purchase, a copy of which may
be obtained from D.F. King & Co., Inc. at (212) 269-5550 (Banks
and Brokers) or (866) 388-7452 (toll free), or via
psec@dfking.com.
A copy of the Offer to Purchase is also available at the
following web address: https://dfking.com/psec/
This announcement is for informational purposes only and is not
an offer to purchase or sell or a solicitation of an offer to
purchase or sell, with respect to any securities. The solicitation
of offers to buy the Notes is only being made pursuant to the terms
of the Offer to Purchase, as it may be amended or supplemented. The
Tender Offer is not being made in any state or jurisdiction in
which such offer would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. None of the Company or the Information and Tender
Agent are making any recommendation as to whether or not holders
should tender their Notes in connection with the Tender Offer.
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 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 Section 27A of the Securities Act of 1933, as
amended, Section 21E of the Securities Exchange Act of 1934, as
amended, and the Private Securities Litigation Reform Act of 1995,
whose safe harbor for forward-looking statements does not apply to
business development companies. These forward-looking statements
include statements regarding expectations as to the completion of
the transactions contemplated by the Tender Offer. 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
Prospect Capital (NASDAQ:PSEC)
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