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Prospect Capital Corp | 5.35% Series A Cumulative Preferred Stock (PSEC.PRA)
Prospectus excerpt: We are offering 6,000,000 shares of our 5.35% Series A Fixed Rate Cumulative Perpetual Preferred Stock (the “Series A Preferred Stock”). We will pay quarterly dividends on the Series A Preferred Stock at an annual rate of 5.35% of the $25.00 liquidation preference per share, or $1.3375 per share of Series A Preferred Stock per year, when, as and if authorized by our Board of Directors (the “Board”), and declared by us out of funds legally available therefor, on February 1, May 1, August 1 and November 1 of each year or, if any such day is not a business day, then on the next succeeding business day, commencing on November 1, 2021. We offer other series of our preferred stock and may in the future offer other series of our preferred stock, and the dividend rate, fees, expenses and other terms of such additional or other series may vary from those of the Series A Preferred Stock offered by this prospectus supplement and such additional or other series of our preferred stock are or will be offered under a revised or a separate prospectus supplement. See “Incorporation by Reference” and “Prospectus Summary—Recent Developments—Debt and Equity”. Full Prospectus PDF », Secondary Prospectus PDF », PSEC Page »
Series: | A | Alternate symbology: | PSEC-A, PSEC-PA, PSECprA | Redeemable?: | Yes | Call Date: | 7/19/2026 | Perpetual?: | Yes | Cumulative?: | Yes | Shares Offered: | 6,000,000 | Overallotment: | 900,000 | Liquidation Preference: | $25.00 | Recent Market Price: | $17.52 | Discount to Liquidation Preference: (More Preferreds Trading at a Discount ») | $-7.48 (-29.92%) | Annualized Dividend: | 1.3375 | Recent Ex-Date: | 4/16/2024 | Current Yield: | 7.63% | Original Coupon: | 5.35% | Pay Period: | Quarterly | Pay Dates: | 1-Feb, 1-May, 1-Aug, 1-Nov | CDx3 Compliance Rating: |
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Prospect Capital is registered as a closed-end investment company. Co.'s investment objective is to generate both current income and long-term capital appreciation through debt and equity investments. Co. invests primarily in senior and subordinated debt and equity of private companies in need of capital for acquisitions, divestitures, growth, development, recapitalizations and other purposes. Co. works with the management teams or financial sponsors to seek investments with historical cash flows, asset collateral or contracted pro-forma cash flows. Preferred: PSEC.PRA Open the PSEC Information Page »
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