| Prospect Capital - PSEC Headlines 2 |
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Prospect Capital Provides $25.5 Million Senior Secured Credit Facility for EXL Acquisition Corp.8:00 am ET 06/25/2010 - Market Wire
NEW YORK, NY -- (MARKET WIRE) -- 06/25/10 --Prospect Capital Corporation (NASDAQ: PSEC) ("Prospect") announced today that Prospect has closed a $25.5 million senior secured credit facility for EXL Acquisition Corp. ("EXL" or the "Company"), a leading manufacturer and marketer of consumable lab testing equipment and supplies. Prospect's one-stop credit facility is being utilized to support a recapitalization of the Company. Founded in 1988, EXL develops, manufactures, and markets consumable testing products used by various types of commercial and municipal laboratories located throughout the United States. The Company offers a broad array of products for numerous applications, including water/wastewater analysis, metals concentration analysis, toxic sample analysis, and many others. "We believe EXL is well positioned to continue its growth in the environmental lab testing business, a market we view as attractive," said Andrew Brown, a senior investment professional with Prospect Capital Management. "This transaction exemplifies Prospect's ability to support our private equity sponsor relationships through creative 'one-stop' financing solutions." Prospect Capital provides $25.5 mln senior secured credit facility for EXL Acquisition Corp8:01 am ET 06/25/2010 - Briefing.com
Prospect Capital Corporation Provides $38.0 Million Senior Secured Credit Facility for a Leading Marketing and Information Services Company8:00 am ET 07/15/2010 - Market Wire
NEW YORK, NY -- (MARKET WIRE) -- 07/15/10 --Prospect Capital Corporation (NASDAQ: PSEC) announced today the closing of a $38.0 million first lien senior secured credit facility to support the acquisition by H.I.G. Capital ("H.I.G.") of a leading marketing and information services business serving the consumer credit information sector. "We are pleased to provide H.I.G. with senior secured capital with the structure and pricing that supports another successful H.I.G. acquisition," said Jason Wilson, a Principal with Prospect Capital Management.
Prospect Capital Corporation is a financial services company that lends to and invests in middle market, privately-held companies. We are organized as an externally-managed, non-diversified closed-end management investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. Prospect Capital Management LLC manages our investments and Prospect Administration LLC provides the administrative services necessary for us to operate.
We have entered into separate equity distribution agreements, each dated July 19, 2010, with each of, RBC Capital Markets Corporation, or “RBC,” BB&T Capital Markets, a division of Scott & Stringfellow, LLC, or “BB&T” and Knight Capital Markets LLC, or “Knight,” relating to shares of common stock offered by this prospectus supplement and the accompanying prospectus. We sometimes refer to RBC, BB&T and Knight individually as a “Sales Manager” and together as the “Sales Managers.”
The equity distribution agreements provide that we may offer and sell up to 6,000,000 shares of our common stock from time to time through the Sales Managers, as our agents for the offer and sale of such common stock. Sales of our common stock, if any, under this prospectus supplement and the accompanying prospectus may be made in negotiated transactions or transactions that are deemed to be “at the market” as defined in Rule 415 under the Securities Act of 1933, as amended, or the “1933 Act,” including sales made directly on the NASDAQ Global Select Market or sales made to or through a market maker other than on an exchange.
Each Sales Manager will receive from us a commission equal to 2% of the gross sales price of all shares of common stock sold through it as Sales Manager under the applicable equity distribution agreement. In connection with the sale of the common stock on our behalf, a Sales Manager may be deemed to be an “underwriter” within the meaning of the 1933 Act, and the compensation of a Sales Manager may be deemed to be underwriting commissions or discounts.
No Sales Manager is required to sell any specific number or dollar amount of common stock, but each will use its commercially reasonable efforts to sell the common stock offered by this prospectus supplement and the accompanying prospectus. See “Plan of Distribution” on page S-40 of this prospectus supplement.
These shares of common stock may be offered at a discount from our most recently determined net asset value per share pursuant to authority granted by our stockholders at the annual meeting of stockholders held on December 11, 2009. Sales of common stock at prices below net asset value per share dilute the interests of existing stockholders, have the effect of reducing our net asset value per share and may reduce our market price per share. See “Risk Factors” beginning on page S-8 and “Sales of Common Stock Below Net Asset Value” beginning on page S-35 of this prospectus supplement and on page 80 of the accompanying prospectus.
We previously entered into equity distributions agreements, dated March 17, 2010, with each of BB&T and Knight for the offer and sale of up to 8,000,000 shares of our common stock. We completed the sale of all 8,000,000 shares of our common stock pursuant to the March 17, 2010 equity distribution agreements, resulting in net proceeds of approximately $84.8 million after deducting related expenses, including commissions to BB&T and Knight.
Our common stock is traded on the NASDAQ Global Select Market under the symbol “PSEC.” The last reported closing sales price for our common stock on July 16, 2010 was $9.51 per share and our most recently determined net asset value per share was $10.09 as of March 31, 2010 ($10.13 on an as adjusted basis solely to give effect to our issuance of common stock on April 23, 2010 in connection with our dividend reinvestment plan and our sale of 7,188,500 shares of common stock during the period from April 1, 2010 through July 16, 2010 pursuant to the March 17, 2010 equity distribution agreements).
Form POS EX PROSPECT CAPITAL CORP3:33 pm ET 07/19/2010 - 10K Wizard
This Post-Effective Amendment No. 2 to the Registration Statement on Form N-2 (File No. 333-164270) of Prospect Capital Corporation (the “Registration Statement”) is being filed pursuant to Rule 462(d) under the Securities Act of 1933, as amended (the “Securities Act”), solely for the purpose of filing exhibits to the Registration Statement. Accordingly, this Post-Effective Amendment No. 2 consists only of a facing page, this explanatory note and Part C of the Registration Statement on Form N-2 setting forth the exhibits to the Registration Statement. This Post-Effective Amendment No. 2 does not modify any other part of the Registration Statement. Pursuant to Rule 462(d) under the Securities Act, this Post-Effective Amendment No. 2 shall become effective immediately upon filing with the Securities and Exchange Commission. The contents of the Registration Statement are hereby incorporated by reference.
Prospect Capital Provides $21 Million in Acquisition Financing to SonicWALL to Support Take-Private Transaction by Thoma Bravo and Teachers' Private Capital8:00 am ET 07/27/2010 - Market Wire
NEW YORK, NY -- (MARKET WIRE) -- 07/27/10 --Prospect Capital Corporation (NASDAQ: PSEC) ("Prospect") announced today that Prospect has made a secured debt investment of $21 million in SonicWALL, Inc. ("SonicWALL"), a global leader in network security and data protection for small, mid-sized, and large enterprise organizations. Established in 1991, SonicWALL's global network of strategic partners, resellers, and distributors are some of the best-known names in information technology. Earning high recognition from key industry publications, SonicWALL solutions have been recognized with seven reviews rated five stars from SC Magazine during the past two years. Other awards include 2009 InfoWorld Technology of the Year for Networking and Security, SC Magazine 2010 Award finalists, eWeek's Channel Insider 2008 Products of the Year, and SearchNetworking.com's 2008 Product Leadership. With more than 15,000 resellers and distributors worldwide, SonicWALL has won top honors in the VAR Business Annual Report Card in the security appliance category in four out of the past five years. SonicWALL is rated among the top three brands among U.S. resellers, according to CMP's VAR Business. SonicWALL's award-winning solutions include network security, secure remote access, email security, backup and recovery, and policy and management. SonicWALL is being acquired by affiliates of an investor group led by Thoma Bravo, LLC, which includes the Ontario Teachers' Pension Plan through its private equity investment department, Teachers' Private Capital.
Form 40-17G PROSPECT CAPITAL CORP3:17 pm ET 07/28/2010 - 10K Wizard
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