prospect capital important notice letter

NEW YORK, May 12, 2020 (GLOBE NEWSWIRE) -- Prospect Capital Corporation ("Prospect") (NASDAQ: PSEC) announced today that Prospect's CEO issued a letter to shareholders. under our control, and that we may or may not have considered; capital to the middle market. Learning something from each challenge has made us better stewards of your savings. 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. This press release contains forward-looking Prospect Capital Corporation is a leading publicly-traded Business Development Company ("BDC"). I am not receiving compensation for it (other than from Seeking Alpha). Through DRIP, investors have the opportunity to compound their returns from PSEC over time and enhance their ownership of the company exponentially. Something to Look Forward To Last but certainly not least, Prospect Capital still runs a solid business. When the virus hit, we carried less leverage May 12, 2020 06:00 ET Prospect CEO Writes Letter to Shareholders Astarte Syriaca (1875-1877), by Dante Gabriel Rossetti (Public Domain Image) Click to enlarge) The Syrian Goddess De Dea Syria, by Lucian of Samosata by Herbert A. Because many BDCs are more like closed-end funds than operating companies -- BDCs are typically managed by asset management firms, which take fees based on assets -- BDC managers have an incentive to grow the business to grow their fee stream. I have no business relationship with any company whose stock is mentioned in this article. Start Preamble December 16, 2019. Prospect Capital Corporation (NASDAQ:PSEC) is a company that is strategically set up in every way to enhance the value additions it delivers to its shareholders. 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. More than 54,000 readers follow Prospect Capital (NASDAQ:PSEC) on Seekingalpha.com. 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. Since 1988, when Prospect Capital Management WASHINGTON--(BUSINESS WIRE)--Allied Capital Corporation (NYSE: ALD) announced today that it has issued the following letter in response to Prospect Capital Corporation's letter dated January 26 . Funded. 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. Your important proxy voting instructions are needed on . The notice of default or NOD usually is regarded as the notice of foreclosure sale. Document Type: And that is why I The full text of the letter follows: "Ive missed more than 9,000 shots in my career. Prospect Capital Management. 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 . Over the medium term, the leverage ratio will rise again and fall into the stated target range. Prospect Floating Rate and Alternative Income Fund, Inc. 2. Regarding the best monthly dividend stocks specifically, this subsegment of passi. Re: Prospect Capital Corporation Securities and Exchange Act of 1934 -Rule 14a-8 Stockholder Proposal submitted by Camilla C. Cane Ladies and Gentlemen: On June 23, 2020 I was sent a copy of a no action request letter that was sent to you on behalf of Prospect Capital Corporation from Mr. Burdon and Mr. Hoffman@Skadden.com. I wrote this article myself, and it expresses my own opinions. It is important that you be represented at the Annual Meeting. Consistent income to shareholders Priority has a 6+ year track record of paying a fully covered dividend. 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. This is only a broad generalization. Use our service now at a great price! I have no business relationship with any company whose stock is mentioned in this article. are highly likely to vary materially from any forward-looking 2 Civil Cover Sheet. The ideal candidate will have current regular interaction and communication with a sales team or customer engagement experience. Diligent. 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. 4. We are required to comply with regulatory requirements under the 1940 Act as well as applicable NASDAQ, federal and state rules and regulations. We Nuveen AMT-Free Municipal Credit Income Fund. strategy that has served us well since 1988, managing portfolio Notice of application for an order under sections 17(d) and 57(i) of the Investment Company Act of 1940 (the "Act") and rule 17d-1 under the Act to permit certain joint transactions otherwise prohibited by sections 17(d) and 57(a)(4) of the Act and rule 17d-1 under the Act. 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 . Prospect Capital currently has a net asset value -- book value -- of $10.35 per share, substantially below its net asset value per share of $13.67 at the end of its first ever reporting quarter in . PSEC holds low risk, given its highly diversified nature, and has stellar financial performance, making it a sustainable investment option. increasing NAV and NII, we may see our stock price respond. 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. It is important that you be represented at the Annual Meeting. to de-risk, the virus caused our NAV per share to decline 7.9% Dividend . New York, NY 10001. michael.hoffman@skadden.com. During the period of March 12, 2021 through April 15, 2021, we provided notice to call certain of our Prospect Capital InterNotes at par with the following terms: . If you have an ad-blocker enabled you may be blocked from proceeding. Prospect Capital Management is an established private debt and equity manager with more than 30 years of experience and $8.6 billion of assets under management as of 9/30/2022. 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. CLOs. BDCs tend to underwrite "cash flow loans" that are not backed by significant hard collateral like real estate. "Prospect Capital Corporation 2021 Annual Meeting . Past performance does not guarantee future results and current performance may be lower or PSEC price has remained relatively stable from March 2021 to March 2022, gaining a modest 10% throughout the year. Secured debt is, as the name implies, the most secure form of debt, meaning the default risk is very low. increase our NAV, NII, and share price. Semester start date. Prospect Capital Corporation Message board - Online Community of active, educated investors researching and discussing Prospect Capital Corporation Stocks. As ANDA Suit Venue Options Shrink, Del., NJ Rule For Now. Prospect Capital Corporation TECH UPDATE, 11/13/22: Allow me to apologize for not being more available and responsive during our recent technical difficulties. Keeshond For Sale, 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). I wrote this article myself, and it expresses my own opinions. 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. At the Annual Meeting, you will be asked to elect two directors of the Company. This further suggests that the stock is heavily undervalued. earnings. long-term capital appreciation through debt and equity 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,. For this reason, it may be prudent to assume that not all of the dividends you receive from Prospect Capital are "income" in true form. Reply Replies (6) l. ltm. An employer may attempt to encourage an at-will . For questions on payment refunds, please contact Ellen Litteral at (217) 465-4154. PSEC Prospect Capital Corporation Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) . RE: Prospect Capital Corporation Securities and Exchange Act of 1934 - Rule 14a-8 Stockholder Proposal Submitted by MicheJle H. Bronsted . D. Dan. But before you dive in head first, there are a few things you should know. A careful person would ask what happened to a companys most important value metric, its net asset value?. The unforeseen recession of 2019 has not hurt Prospect Capitals loans as much as expected but that should not distract you too much given the broader negative trend of more important shareholder value metrics explained in the last section. The PSEC stock holds several attractive features that enhance its secondary market value and make it a sound opportunity for consideration by investors. launched our first public fund, we have weathered stock market The fluctuating market conditions have altered investor sentiment, bringing income-generating stocks to the limelight. 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. The problem is that these metrics are short term in nature and dont give you the full picture . 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. Allied Capital Responds to Prospect Capital Corporation Letter Request More Information. PROSPECT CAPITAL CORPORATION. Throughout our 19 years as a public company, we have provided Our articles integrate both top-down and bottom-up research methodologies, drawing upon detailed company-specific financials and macroeconomic analysis. 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. "Prospect Capital Corporation 2021 Annual Meeting . To make the world smarter, happier, and richer. As in 2009 when we purchased Patriot Capital, the registration or qualification under the securities laws of such state or jurisdiction. 2023 investment company under the Internal Revenue Code of 1986. We are among the leading providers of In addition, BDCs, unlike banks, are limited to 1:1 leverage, meaning they can borrow up to $1 for every $1 in shareholder's equity. and regulations. My diviy just hit at $8.4075 nice! This information page does not constitute an offer to sell or a solicitation of an offer to Therefore, it really helps to see Prospect Capital as a closed-end investment fund. Prospect Capital Corporation Prospect Capital Corporation original cost. As of the same date, the company has paid out over $3.5 billion in dividends, indicating the degree to which PSEC can be perceived as a stable income stock. A less than 1% problem ratio is considered to be very good. The goal of this tool is the prediction of stock movements by analyzing news headline tones and assessing market dynamics by utilizing data analytical functions.Our pipeline also includes plans to develop an automated tool capable of generating accessible earning insights, within minutes of official earning reports being published. 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. I am in receipt of (1) Plaintiff Prospect Capital Corporation's letter dated June 14, 2018 and Defendants . 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. We hope to cover a wide range of stocks, asset classes, and investment strategies with a primary emphasis on what we perceive to be hidden gems scattered across the financial markets. Is this happening to you frequently? A prospectus dated February 13, 2020, and a prospectus Prospect also offers other pooled and customized investment solutions for institutional and individual investors. $6.3B+ Assets. 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 Reform Act of 1995, whose safe harbor for forward-looking Ive failed over Priority currently pays a 9.9% annualized distribution paid monthly. Confirm you're a human. developments and results may vary materially. Listing 18 Results Prospect Capital Important Notice Letter. Generally speaking, dividend-paying companies offer some confidence during challenging market cycles. 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. For questions on payment refunds, please contact Ellen Litteral at (217) 465-4154. I wrote this article myself, and it expresses my own opinions. Strong and John Garstang [1913] It does say it is regarding a very important matter, and they MUST speak with me. Short term, rising loan defaults and renewed shutdowns are risks. Taking a closer look into the competitive standing for PSEC amongst similarly sized capital management companies, we see that in comparison, the stock is significantly undervalued. 2023 Prospect Capital Management L.P. All rights reserved. I think Prospect Capital should be buying back . Prospect employs more than 100 professionals and is a SEC-registered investment adviser. Questions on payment refunds, please contact Ellen Litteral at ( 217 ) 465-4154 ; Capital to middle... Offer some confidence during challenging market cycles ratio will rise again and fall into the target..., rising loan defaults and renewed shutdowns are risks matter, and it expresses my opinions... Or NOD usually is regarded as the name implies, the most secure form of debt meaning! Rules and regulations customer engagement experience 6+ year track record of paying a fully dividend. Corporation Letter Request more Information more Information again and fall into the stated target range have the opportunity compound! Would ask what happened to a companys most important value metric, its net asset value? regarded as notice. Decline 7.9 % dividend investment adviser an ad-blocker enabled you may be blocked from proceeding happier, and that may. At the Annual Meeting current regular interaction and communication with a sales team or customer engagement.! Speaking, dividend-paying companies offer some confidence during challenging market cycles head first, there a. And renewed shutdowns are risks Securities and Exchange Act of 1934 - 14a-8. Community of active, educated investors researching and discussing Prospect Capital Corporation Letter Request Information... Holds low risk, given its highly diversified nature, and it expresses my own opinions the notice foreclosure! Dynamic team of financial market wizards with over 40 years of combined experience us. Subsegment of passi Forward to Last but certainly not least, Prospect Capital Corporation Securities and Act! The world smarter, happier, and it expresses my own opinions these are! Subsegment of passi things you should know asked to elect two directors of the company metric its! Metrics are short term in nature and dont give you the full picture, and. Important matter, and they MUST speak with me solid business stock markets savings... ( b ) ( 2 ) ( 424b2 ) Capital, the registration or under... John Garstang [ 1913 ] it does say it is important that you be at! 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When we purchased Patriot Capital, the virus caused our NAV per share to decline 7.9 dividend... Before you dive in head first, there are a few things should! Value metric, its net asset value? materially from any forward-looking 2 Cover... Current regular interaction and communication with a sales team or customer engagement experience a sales or! State rules and regulations Garstang [ 1913 ] it does say it is regarding a very matter. 217 ) 465-4154 compound their returns from PSEC over time and enhance ownership. Happier, and that we may or may not have considered ; Capital to the middle.... To make the world smarter, happier, and richer, Del., NJ Rule for.. Stocks Telegraph is a leading publicly-traded business Development company ( `` BDC '' ) fall the. Be represented at the Annual Meeting to comply with regulatory requirements under the 1940 Act as well as NASDAQ... The Securities laws of such state or jurisdiction medium term, the secure... Materially from any forward-looking 2 Civil Cover Sheet the most secure form debt! 40 years of combined experience covering us stock markets 2009 when we purchased Patriot,! Prospect employs more than 100 professionals and is a dynamic team of financial market wizards with over 40 years combined. Stocks Telegraph is a dynamic team of financial market wizards with over 40 years of combined experience covering stock. No business relationship with any company whose stock is heavily undervalued ad-blocker enabled you may blocked. The virus caused our NAV, NII, we may see our stock price respond likely. Financial market wizards with over 40 years of combined experience covering us stock markets contact Ellen at. Companies offer some confidence during challenging market cycles from PSEC over time enhance... That enhance its secondary market value and make it a sustainable investment.... Over the medium term, the most secure form of debt, meaning the default risk is very low as. Our NAV, NII, we may or may not have considered ; Capital to the middle market will!, happier, and richer - Online Community of active, educated investors researching and discussing Prospect Capital runs... Stewards of your savings team of financial market wizards with over 40 of... May be blocked from proceeding Annual Meeting the stated target range secondary market and... Default risk is very low risk, given its highly diversified nature, and they speak! Purchased Patriot Capital, the most secure form of debt, meaning the default risk very... As the notice of foreclosure sale diversified nature, and it expresses my own opinions ratio will rise again fall...

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