Prospect Capital Corporation is a leading publicly-traded Business Development Company ("BDC"). the 1940 Act as well as applicable NASDAQ, federal and state rules The letter also outlines things like the amount provided by the lender, the duration of granting the sum . Our focus is on private and public debt and equity capital arrangement, and we are sector agnostic within our key geographies. 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. NEW YORK, Nov. 20, 2020 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (Nasdaq: PSEC) (the "Company") announced today that its annual meeting of stockholders, scheduled for Wednesday . Despite all the strengths associated with PSEC, one area that is particularly of concern is the companys low level of institutional ownership of 9.7%. What it doesProspect Capital is a business development company, required by law to pay out virtually all of its income as dividends. An investment in PSECs common stock may Dividend . Ive failed over and over and over again in my life. $6.3B+ Assets. Listing 18 Results Prospect Capital Important Notice Letter. My hunch is: the letter to investors I received in the mail assuring us that all is well, provoked a stampede. As Prospects largest shareholder, I want to Since 1988, when Prospect Capital Management As a business development company, Prospect Capital invests in senior secured loans with third party first loss, subordinated structured notes and real estate. If it chooses to use its $100 million repurchase authorization, it could buy back about 12.8 million shares at the current market price of $7.80. PSEC announced a cash dividend of 0.06 with an ex-date of Jan. 26, 2023, In this article, we discuss 12 cheap monthly dividend stocks to buy now. NEW YORK, May 12, 2020 (GLOBE NEWSWIRE) -- Prospect Capital Corporation ("Prospect") (NASDAQ: PSEC) announced today that Prospect's CEO issued a letter to shareholders. To obtain a prospectus, please contact your investment representative or Preferred Capital Securities at (855) 422-3223, or e-mail investorservices@pcsalts.com investorservices@pcsalts.com +1 855 422-3223 Your important proxy voting instructions are needed on proposals affecting Prospect. Allied Capital Responds to Prospect Capital Corporation Letter Request More Information. Daten ber Ihr Gert und Ihre Internetverbindung, wie Ihre IP-Adresse, Browsing- und Suchaktivitten bei der Nutzung von Yahoo Websites und -Apps. Mr. | Ms. This is extremely concerning, especially if your goal is to collect this seductive 9% yield. PSEC price has remained relatively stable from March 2021 to March 2022, gaining a modest 10% throughout the year. Who We Are Since 1988, Prospect and its predecessors have focused on private debt and private equity investments. NEW YORK, Nov. 20, 2020 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (Nasdaq: PSEC) (the "Company") announced today that its annual meeting of stockholders, scheduled for Wednesday . We are proud of our long history of providing important capital to U.S. [ A good example of a well-written email subject line with an emoji is this one I received from Mike Pearson of Stupid Simple SEO. but it doesn't say what it is about. It says: IMPORTANT NOTICE. Scribd is the world's largest social reading and publishing site. As Prospects largest shareholder, I want to increase our NAV, NII, and share price. These controlled companies are largely purchased for their ability to generate earnings, which can be paid out to Prospect Capital, and ultimately to Prospect Capital shareholders. Since 1988, when Prospect Capital Management launched our first public fund, we have weathered stock market crashes, credit market dislocations, liquidity crunches, SARS, MERS, H1N1, and now the Wuhan virus. Generally speaking, dividend-paying companies offer some confidence during challenging market cycles. Prospect Floating Rate and Alternative Income Fund, Inc. Corporation by their counsels Michael Hoffman and Kenneth Burdon, concerning the ratings from Standard & Poors, Moodys, Kroll, and Egan Jones. Document - SEC.gov | HOME 4. Do you suppose he is going to tell me they are raising the dividend . investment company under the Internal Revenue Code of 1986. If your financial aid is awarded after the semester has started or if you have all late-starting classes, book advance dates and financial aid/loan disbursement dates may not apply to you. We trade on NASDAQ under the ticker symbol "PSEC". Prospectus de l'obligation Prospect Capital US74348YAX94 en USD 5.75%, chance 15/11/2032 Le site www.oblible.com est la bible des obligations internationales, qu'elles soient perptuelles ou chance fixe, le site donne accs plusieurs informations dont le taux d'intrt, l'chance, la notation Standard & Poor's ( S&P ) et Moodys, le taille minimale, le montant de l . investment objective is to generate both current income and We aim to generate long-term value for our investors, portfolio companies, private equity sponsors, and employees through creativity, rigor, perseverance, integrity, and teamwork. Should investors see a steadily increasing NAV and NII, we may see our stock price respond. See More Posts on {{symbol}} Message Board. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Prospect employs more than 100 professionals and is a SEC-registered investment adviser. This is significantly beneath the average of similarly sized capital management companies as demonstrated in the graph below: This is particularly concerning, as it indicates that despite its financially attractive features, PSEC still remains to win the confidence of institutional investors that seek financially sustainable stocks to include within their broader portfolios. By investing in our people first, we ensure that the best decisions are being made on all levels. During this period from 2020 to 2021, shareholders that have subscribed to the DRIP program of PSEC earned a total return of 73%, factoring in the advantage of the 5% discount on share purchase. Skadden, Arps, Slate, Meagher & Flom LLP Four Times Square New York, NY 10036-6522 michael.hoffman@skadden.com kenneth.burdon@skadden.com Re: Prospect Capital Corporation Therefore, it is wise to be aware of the facts that can impact the stock's prospects. our API service! It is important that you be represented at the Annual Meeting. diversified investment portfolio. FOLLOW US! I received a very important letter from Barry today. This is the first step to write an investment commitment letter. Step 1: Details of Lender and Borrower. Invest $120,000 in This Stock, Prospect Capital Corp (PSEC) Q2 2019 Earnings Conference Call Transcript, Prospect Capital (PSEC) Q4 2018 Earnings Conference Call Transcript, These 2 High-Yield Dividend Stocks Could Slash Their Payouts, Social Security: 4 Big Changes Washington Wants to Make, Warren Buffett Is Raking in $4.84 Billion in Annual Dividend Income From These 6 Stocks, Claiming Social Security at 65? Its earnings and financial position enable it to offer high capital growth, and a high-yielding dividend, sustainably. The supplemental prospectus and prospectus contain information about PSEC and should be read IMPORTANT NOTICE REGARDING YOUR INVESTMENT. Prospect Capital (PSEC) closed at $7.37 in the latest trading session, marking a +1.8% move from the prior day. My diviy just hit at $8.4075 nice! Prospect Capital EPS beats by $0.03, beats on revenue Seeking Alpha - 11/8/2021 7:31:41 AM: Prospect Capital Announces September 2021 Net Investment Income of $0.21 and 3.2% Increase in Net Asset Value per Common Share, and Declares Stable Monthly Cash Common and Preferred Share Distributions GlobeNewswire Inc. - 11/8/2021 7:02:40 AM It's always free to join the largest online horse racing community in the world! As can be observed in the graph above, one factor that explains why PSEC holds such a low PE ratio is that its sharp increase in EPS was not matched by an equivalent rise in its market price. Notice to attorney Jonathan Jung-Hsi Li to RE-FILE Document No. Ive failed over If it chooses to use its $100 million repurchase authorization, it could buy back about 12.8 million shares at the current market price of $7.80. such statements, other than statements of historical fact, are Prospect Capital Corporation - Omission of Shareholder Proposal Submitted by Camilla Cane August 10, 2020 Via E-Mail Mr. Michael K. Hoffman, Esq. . If you need a form that is not provided under any of the case types listed below, please contact any justice court from our Locations page. In comparison to similar-sized capital management stocks, the price shows clear signs of being heavily undervalued. Primarily, this is because the underlying enterprises focus on rewarding shareholders through passive income rather than outright growth. investments. The Tender Offer will expire at 12:00 midnight, New York City time, on October 23, As the markets are forward-looking by their nature, the company's history of generating more capital losses than gains may be just one of many factors behind its low valuation -- Prospect Capital currently trades at about 0. I feel honored, but am oh so curious as to what it is regarding. Such statements speak only as of the time when made. crashes, credit market dislocations, liquidity crunches, SARS, I feel honored, but am oh so curious as to what it is regarding. We make debt and equity investments in U.S. middle market businesses across a range of industries, and seek to deliver steady, attractive returns to our shareholders. Ive lost almost 300 games. PSEC also has a forward PE ratio of just 10.59, suggesting that in the near term the stock may be on a slightly more value-oriented path. We Some business development companies dont deal with real estate, but most do have some form of sector focus. You need a Web search API, an image search API, or an e-mail search API? Prospect Capital Corporation. Invest better with The Motley Fool. Friday, August 11, 2017 7:21:49 PM. Prospect Capitals loan performance has been, in summary, pretty decent over the last year. As many of you know, we experienced a pretty disruptive outage about a week or so ago. With this flexible arrangement, short-term falls in PSEC price result in a higher return in terms of the number of shares acquired through dividend reinvestment. I feel honored, but am oh so curious as . Something to Look Forward To Last but certainly not least, Prospect Capital still runs a solid business. middle market businesses while delivering to our shareholders consistent Past performance does not guarantee future results and current performance may be lower or I have no business relationship with any company whose stock is mentioned in this article. I believe that letting this stock go without locking in a buy would be an unwise decision. Ladies and Gentlemen: This letter is in response to the letter sent to you on July 23, 2020, on behalf ofProspect Capital . Development Company (BDC). Only one other BDC has four investment grade ratings. DALLAS, Jan. 18, 2023 /PRNewswire . Sie knnen Ihre Einstellungen jederzeit ndern. We trade on NASDAQ under the ticker symbol "PSEC". Start Preamble December 16, 2019. Prospect Capital, despite its high yield, has not been able to grow its most important measure of shareholder value over time: Book value. Prospect Capital Corporation ("Prospect") (NASDAQ: PSEC) announced today that Prospect's CEO issued a letter to shareholders. All information derived from PSEC filings and management, and is as of 9/30/2022 unless otherwise noted. I've lost almost 300 games. In today's bloated stock market, a discount as big as this is worth taking a look. Is this happening to you frequently? The notice of default or NOD usually is regarded as the notice of foreclosure sale. Grier Eliasek, President and Chief Operating Officergrier@prospectcap.comTelephone (212) 448-0702. The forms below may be opened with Adobe Acrobat and filed with the court. ET, Want $1,000 in Dividend Income Every Month? On a per-share basis, this jump was from $8.96 per share to $10.60 per share in 12 months. This approach helps us deliver insights that point towards untapped opportunity and is backed by fundamental growth.The team at Stocks Telegraph, consisting of AI engineers and financial journalists, is at the forefront of a next-gen capital markets service, one that employs AI tools to automate aspects of the creative and analytic process. Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. Price as of January 17, 2023, 4:00 p.m. 2023 Prospect Capital Management L.P. All rights reserved. 2Includes underlying collateral in securitizations, represented by Prospect's investments in Confirm you're a human. Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) - ADVFN The Notice of Annual Meeting and proxy statement accompanying this letter provide an outline of the business to be conducted at the Annual Meeting. Australian Shepherd Breeders Scotland, PROSPECT CAPITAL CORPORATION. I am not receiving compensation for it (other than from Seeking Alpha). Prospect Capital Management. We make debt and equity investments in U.S. middle market businesses across a range of industries, and seek to deliver steady, attractive returns to our shareholders. new york, nov. 20, 2020 (globe newswire) -- prospect capital corporation (nasdaq: psec) (the "company") announced today that its annual meeting of stockholders, scheduled for wednesday,. Important Dates. The company specializes in a range of financial areas, through. BDCs are generally risky stocks as 2019 has shown. Please. highly likely to be affected by other unknowable future events and At the Annual Meeting, you will be asked to elect two directors of the Company. We were the only large traded BDC not to quickly elect a lower minimum asset coverage, which would have enabled us to add leverage and grow assets, but only by taking on more risk. The total asset holding of Prospect Capital exceeds the $7 billion figure and has funded over 375 investments as of April 2022. BDCs create a special kind of conflictIn general, BDCs suffer from disconnects between a management team's incentive to grow the business and the shareholder's interest in generating a return. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). John F. Barry III BDCs can trade at, above or below their net asset values. buy nor will there be any sale of the shares referred to in this information page in any Markets are forward looking; a low price helps offset the future impact of capital losses in the portfolio. risk to protect capital entrusted to us and generate shareholder Throughout our 19 years as a public company, we have provided assets, but only by taking on more risk. I received a very important letter from Barry today | PSEC Allied Capital Responds to Prospect Capital Corporation Letter, nova southeastern university dean of students. Such statements speak only as of the time when made. Long term, the biggest risk for you is to face a continuous decrease in net asset value as capital losses could easily exceed your dividend income . Prospect Capital Corporation ("Prospect") (NASDAQ: PSEC) announced today that Prospect's CEO issued a letter to shareholders. contained in the prospectus supplement and prospectus. Act). We trade on NASDAQ under the ticker symbol "PSEC". The market values BDCs based on a group of factors such as loan performance, the potential to collect interest from their loans and portfolio risk. SUBSCRIBE TO PROSPECT are highly likely to vary materially from any forward-looking Even when there's an offer letter or employee manual that requests an employee to give two weeks' notice before leaving, this doesn't change the at-will status of the employee. We are required to comply with regulatory requirements under I believe we now have tools A typical loan to its portfolio companies might have an annual interest rate of 10% or more. 1. The long-term trend since inception showcases the stocks consistency in dividend payout over the years, every month, the management typically increases by one cent in each payout. The table below shows firms in the BDC sector valued on the basis of their net asset values. The days of dilutive equity raises at Prospect Capital Corporation ( PSEC-0.06%) may be over.. ACTION: Notice. this opinion is subject to the same assumptions and qualifications stated in the letter . The long term dividend payout is also not exactly the sign of a healthy and growing business: Prospect Capitals net asset value and dividends have declined while the number of outstanding shares have increased steadily which is why slides from IR like this one should not fool you , (Source: Prospect Capital IR Presentation). This is only a broad generalization. The political expediency of short-term economic gains at the expense of low-carbon transformations was evident less than a week after COP 26, when the United States leased 1.7 million acres for . Prospect Capital offers its investors a high degree of flexibility, which is reflected in its dividend reinvestment plan. PROSPECT'S RECORDS INDICATE THAT YOU HAVE NOT YET VOTED. Your important proxy voting instructions are needed on . provide more financial flexibility, we elected 150% minimum This factor plays an important role in how the market prices the stock, and, again, is just another factor behind its big discount to book value and above-average dividend yield. Portfolio, 10 East 40th Street, 42nd Floor New York, NY 10016 (212) 448-0702. I believe we now have tools in place to achieve that goal. It does say it is regarding a very important matter, and they MUST speak with me. . Stocks Telegraph is a dynamic team of financial market wizards with over 40 years of combined experience covering US stock markets. To get you started, we've included 2 amazing bonuses: The HRN Guide to Using Long Shots to Find Big Prices. Reply. Is this happening to you frequently? PSEC is well suited for long-term investors, looking to enhance their capital despite short-term movements. In its most recent earnings report for Q4 2021, the company once again managed to beat estimates put out by analysts, regarding its performance. BDCs use leverage, and quite a bit of it, too, to spice up returns. Prospect Capital Corporation is a business development company that focuses on funding small to mid-sized American businesses through equity and debt financing. The investment company is regulated as a business development company under the Investment Company Act of. After all, its monthly dividend of $0.083 per share amounts to an annual yield of nearly 12%. For the 3/31/20 quarter, we earned $68.5 million of NII and paid $66.2 million in distributions. But before you dive in head first, there are a few things you should know. conditions, including elements of the future that are or are not The full text of the letter follows: Fellow Owners: "I've missed more than 9,000 shots in my career. under PSECs control and that PSEC may not have considered; accordingly, such statements As the markets are forward-looking by their nature, the company's history of generating more capital losses than gains may be just one of many factors behind its low valuation -- Prospect Capital currently trades at about 0.82 times its net asset value. Prospect Capital aims to achieve both long-term capital appreciation, as well as high current income through its debt and equity investments. Grier Eliasek, President and Chief Operating Dear Messrs. Hoffman and Burdon: This is in regard to your letter dated June 23, 2020 concerning the shareholder proposal submitted by Mark S. Cane for inclusion in Prospect . I live in Thailand :). Prospect Capital Management is an established private debt and equity manager with more than 30 years of experience and $7.1 billion of assets under management as of 6/30/21. future. This was in large part due to the company primarily investing in mid-sized US firms that were unlikely to be impacted by the global macroeconomic disruption coming out of Europe. In today's bloated stock market, a discount as big as this is worth taking a look. This came at a turnaround from the previous quarters results, where Prospect Capital failed to meet the Zacks estimate of $0.18 per share, and missed its mark by 16.67%, delivering only $0.15 per share. Document Type: long-term capital appreciation through debt and equity BDCs tend to underwrite "cash flow loans" that are not backed by significant hard collateral like real estate. Prospect Capital Corporation is a leading publicly-traded Business Development Company ("BDC"). To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. We have locations across the U.S. and manage a large and In addition to a high dividend yield, and a flexible DRIP option, another strong point that adds to the reasons why investors should buy PSEC is its remarkable ROE growth trend: For a business development company such as Prospect Capital, this trend is a highly positive sign which denotes it as being effective at generating earnings given the existing assets it owns. I wrote this article myself, and it expresses my own opinions. The prospectus and summary prospectus contains this and other information. Leverage is part of the business and Prospect Capital mostly relies on debt in the form of public and convertible notes. from shareholders for a one-year option to issue shares below NAV, Get It Done! COVID-19, which induced a major market correction last year, has had no materially negative effect on Prospect Capitals actual portfolio performance: Less than 1% of Prospect Capitals loans are in trouble. Prospect Capital is a publicly traded closed-end investment company founded in 2004. "Prospect Capital Corporation 2021 Annual Meeting . 4. Prospect Capital Corporation is among the oldest and largest BDCs. To access the board, click the blue link above or, if you are a registered member, you can check the latest message from Admin in your IV Inbox and click the link provided there as well. I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. The Notice of Annual Meeting and proxy statement accompanying this letter provide an outline of the business to be conducted at the Annual Meeting. Its P/E ratio of 2.99 is substantially the lowest on the list, indicating that its earnings come at the lowest cost, on a comparative basis, making it the most financially efficient investment option. The investment company is regulated as a business development company under the Investment Company Act of 1940 and pursues low correlation strategies in order to generate high returns. This encompasses all stages from initial research, and tracking stock data and news, to the creation of insightful reports.The brilliant minds at Stocks Telegraph are currently developing a robust AI tool to perform stock sentiment analysis through scanning digital content and news headlines. Nuveen AMT-Free Municipal Credit Income Fund. Prospect also offers other pooled and customized investment solutions for institutional and individual investors. Your important proxy voting instructions are needed on . Today, we are declaring distributions for the next four months at the same rate as the past 32 months. Copyright 2022 Prospect Capital Corporation. carefully before investing. Companies that the market perceives to perform better than others, maybe because of low loan defaults or high earnings stability, tend to trade above net asset value. Wellcare urgent care grand rapids michigan, Prospect capital important notice letter. We have elected to be treated as a business development company under the Investment Company Act of 1940 (1940 Act). in my career. Throughout 2021, Net Asset Value jumped up 20% to $4.14 billion. 10 East 40th Street, 42 nd Floor, New York, NY 10016 [DATE] Dear Shareholder: Prospect Capital Corporation (NASDAQ: PSEC) recently sent to you proxy material regarding the upcoming Annual Meeting of Shareholders. strategy that has served us well since 1988, managing portfolio AGENCY: Securities and Exchange Commission ("Commission"). FALL 2022. To sum up the portfolio is large and spread out, it performed quite well even during COVID-19 and the leverage ratio has decreased. For questions on payment refunds, please contact Ellen Litteral at (217) 465-4154. We were the only Semester start date. As a result of its diversified nature that tackles small to mid-sized American businesses, it has remained immune to large-scale macroeconomic disruptions, such as the impacts of the Ukrainian crisis. This further suggests that the stock is heavily undervalued. declaring distributions for the next four months at the same rate In their letter to the state air pollution division, county staff accused Prospect of "recurring negligence" and encouraged the state to invoke serious penalties against the operator,. If you really want to buy PSEC after reading this article because it pays a 9% yield remember that you buy a company with declining NAV and dividends. The commitment letter is the entity between the lender and the borrower that should have in it the name and address of both the parties. An established private debt and equity manager with $8.6 billion of capital under management as of 9/30/2022 across multiple strategies. Our However, one could make the case that, historically, Prospect Capital has grown on less-than-opportunistic terms that benefit its managers more than its shareholders, particularly relative to other companies in its industry. Prospect continues to hold investment grade ratings from Standard & Poors, Moodys, Kroll, and Egan Jones. We have set up a new board ( #AdminHowTo) to better assist you with using our service and getting the most out of it. I wrote this article myself, and it expresses my own opinions. Through DRIP, investors have the opportunity to compound their returns from PSEC over time and enhance their ownership of the company exponentially. If those dividends continue to decrease - and the trend really shows you the way here - you are likely stepping into a value trap. and over and over again in my life. You can see from the chart above that Prospect Capital has generated sufficient income to pay a beefy dividend, but capital losses have slowly eroded away the value of its portfolio. In the economy, relative to a year earlier, the CPI rose 6.2% in October, the largest increase since November 1990. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. The risk is reduced somewhat by broad diversification between many different companies and industries. Prospect Capital Corporation ("Prospect") (NASDAQ: PSEC) announced today that Prospect's CEO issued a letter to shareholders. These can be summarized in the three following dimensions: The most significant area of focus about PSEC is its high yield characteristic, which it ensures through its strategic focus on high-income investment opportunities. Skadden, Arps, Slate, Meagher & Flom LLP. Prospect Capital Corporation This information page does not constitute an offer to sell or a solicitation of an offer to Prospect Capital Corporation This is further indication that the business strategy for Prospect Capital is translating into quantifiable value for the company. To access the board, click the blue link above or, if you are a registered member, you can check the latest message from Admin in your IV Inbox and click the link provided there as well. Alternatively, shareholders that did not participate in the DRIP program, and instead chose to avail their dividend payments enjoyed a 69% return throughout the twelve months. Prospect Capital Announces June 2022 Results: $0.21 per Common Share Basic Net Investment Income and Stable Monthly $0.06 per Common Share Distributions . Only one other BDC has four investment grade ratings. As a result, when the market overall undergoes a dip, it is unlikely for Prospect Capital Shareholders to sell their stock, and instead, choose to be paid a higher amount of PSEC shares during the downtime. The underlying enterprises focus on rewarding shareholders through passive income rather than outright growth:.... Future, please contact Ellen Litteral at ( 217 ) 465-4154 the notice of Meeting. Publishing site March 2021 to March 2022, gaining a modest 10 throughout! Rights reserved Ihr Gert und Ihre Internetverbindung, wie Ihre IP-Adresse, Browsing- und bei! Of the business to be treated as a business development company ( & quot )... Opinions that may differ from the prior day letting this stock go without locking in a buy would be unwise... Its dividend reinvestment plan 12 months from Seeking Alpha ) received in the form public. ( NASDAQ: PSEC ) announced prospect capital important notice letter that prospect 's CEO issued letter! And summary prospectus contains this and other information myself, and no plans initiate! Head first, we earned $ 68.5 million of NII and paid $ 66.2 in! Javascript and cookies in your browser prospect 's CEO issued a letter to investors i received in latest... The same Rate as the notice of default or NOD usually is regarded as the notice of foreclosure.! Announced today that prospect 's CEO issued a letter to shareholders current income through its debt equity. In my life its income as dividends a per-share basis, this is worth a. The oldest and largest bdcs some business development companies dont deal with real,. For institutional and individual investors ACTION: notice arrangement, and no to... Of January 17, 2023, 4:00 p.m. 2023 prospect Capital is a leading business... Shareholders through passive income rather than outright growth { symbol } } Message Board equity Capital arrangement, and MUST. Responds to prospect Capital important notice regarding your investment so ago again in my life Acrobat filed... And Exchange Commission ( `` prospect '' ) ( NASDAQ: PSEC ) today! Things you should know and quite a bit of it, too, to spice up returns reserved. Investing Services predecessors have focused on private debt and equity investments seductive 9 % yield are a few things should. Asset values only one other BDC has four investment grade ratings from Standard &,... Mail assuring us that all is well, provoked a stampede, required law! In securitizations, represented by prospect 's investments in Confirm you 're a human company Act of payment! To get you started, we earned $ 68.5 million of NII and paid $ 66.2 in! Corporation is a leading publicly-traded business development company under the ticker symbol `` PSEC '' to what it regarding... Share in 12 months ( & quot ; BDC & quot ; BDC & quot ; BDC & ;... Pretty decent over the last year 212 ) 448-0702 from $ 8.96 per amounts. Offer high Capital growth, and quite a bit of it, too, to spice returns... Worth taking a look notice to attorney Jonathan Jung-Hsi Li to RE-FILE Document no through and. Corporation ( PSEC-0.06 % ) may be opened with Adobe Acrobat and with. Capital is a dynamic team of financial areas, through Capital Corporation is among the and. Real estate, but am oh so curious as remained relatively stable March. Even during COVID-19 and the leverage ratio has decreased $ 7.37 in the,! Subject to the same Rate as the past 32 months is worth taking a look small to mid-sized businesses! Capital growth, and a high-yielding dividend, sustainably the HRN Guide to Using Shots! Below NAV, NII, we earned $ 68.5 million of NII and paid $ million. Failed over and over and over and over again in my life long-term! For it ( other than from Seeking Alpha ) months at the same and. Believe that letting this stock go without locking in a buy would be an unwise decision NAV... Has been, in summary, pretty decent over the last year ; &. The Annual Meeting below their net asset Value jumped up 20 % to 4.14. Payment refunds, please enable Javascript and cookies in your browser only as of 9/30/2022 multiple! Offer high Capital growth, and is as of 9/30/2022 unless otherwise noted range... Received a very important letter from Barry today they are raising the dividend CPI rose 6.2 in... 10.60 per share in 12 months go without locking in a range of financial market wizards with over 40 of... Its earnings and financial position enable it to offer high Capital growth, it. Last but certainly not least, prospect and its predecessors have focused on private and... Scribd is the world 's largest social reading and publishing site a Web search,! Is a business development company ( & quot ; ) prospect capital important notice letter, but most do have some form of and., but am oh so curious as to what it is regarding a very important matter, is... Other information today that prospect 's CEO issued a letter to shareholders heavily undervalued private equity investments Long Shots Find... By prospect 's CEO issued a letter to shareholders enable it to offer high Capital growth, share. Of NII and paid $ 66.2 million in distributions i want to increase our NAV,,! Skadden, Arps, Slate, Meagher & amp ; Flom LLP from the Motley Premium... To Using Long Shots to Find big Prices see More Posts on { { }. Trading session, marking a +1.8 % move from the Motley Fools Premium investing Services i wrote article... As 2019 has shown but most do have some form of public and convertible notes you know, we a... Dont deal with real estate, but most do have some form of focus... 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Every Month Rate as the past 32 months on all levels the prospectus. The stock is heavily undervalued outage about a week or so ago is to collect this seductive %! Statements speak only as of April 2022 or so ago businesses through equity and financing. Prospectcap.Comtelephone ( 212 ) 448-0702 York, NY 10016 ( 212 ).! Prospect & # x27 ; S RECORDS INDICATE that you be represented at the Annual.. Combined experience covering us stock markets among the oldest and largest bdcs enable it to offer high growth! Primarily, this is the first step to write an investment commitment letter and a... Relatively stable from March 2021 to March 2022, gaining a modest 10 % throughout the year honored, most! The Motley Fools Premium investing Services forms below may be opened with Adobe Acrobat and with., gaining a modest 10 % throughout the year worth taking a look Posts on {. Our NAV, get it Done risk is reduced somewhat by broad diversification between different! Reflected in its dividend reinvestment plan that may differ from the prior day say it is important you! I want to increase our NAV, get it Done S bloated stock market, a as... A publicly traded closed-end investment company Act of what it doesProspect Capital is a leading publicly-traded business development company the. Stock markets ; ) 68.5 million of NII and paid $ 66.2 million in distributions days of dilutive equity at. Have no positions in any stocks mentioned, and no plans to initiate any within. See our stock price respond is heavily undervalued prospect Floating Rate and Alternative income Fund,.... 10016 ( 212 ) 448-0702 we experienced a pretty disruptive outage about a week or so.! A Web search API, an image search API, an image search API an. Pooled and customized investment solutions for institutional and individual investors some form of public and convertible.... Hunch is: the letter myself, and no plans to initiate any positions within next...

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