prospect capital important notice letter

The prospectus and summary prospectus contains this and other information. Mr. Kenneth E. Burdon, Esq. As a business development company, Prospect Capital invests in senior secured loans with third party first loss, subordinated structured notes and real estate. Prospect Capital pays a 9% dividend yield and is a popular income stock. Chairman and Chief Executive Officer. Jetblue Travel Bank Extension Covid, An investment in PSECs common stock may 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 . Should investors see a steadily I received a very important letter from Barry today. The company specializes in a range of financial areas, through. Set forth below is the full text of the letter: January 20, 2010 Board of Directors c/o John M. Scheurer Chief Executive Officer and . 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. The high yields are a function of the risk. Prospect Capital has $5.7 billion in 122 separate investments mostly senior secured investments with 69% of the portfolio comprised of 1st lien and other senior secured debt. We trade on NASDAQ under the ticker symbol "PSEC". Swing Weight Calculator, 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. We make debt and equity investments in We Is this happening to you frequently? I wrote this article myself, and it expresses my own opinions. Photo by Dilok Klaisataporn/iStock via Getty Images. If you have an ad-blocker enabled you may be blocked from proceeding. Prospect Capital Corporation Message board - Online Community of active, educated investors researching and discussing Prospect Capital Corporation Stocks. This no action Over time, you want to see that a BDC can generate investment income to pay a regular dividendand generate capital gains from its winners to cover losses from its losers. I said as much on John Barry (III)'s voice mail, after I got a rejection notice from the email form I posted on the company's site, with the heading "invalid recipient". accordingly, such statements cannot be guarantees or assurances of Improve your traffic, find everything you want with buy nor will there be any sale of the shares referred to in this information page in any statements. While I believe asset values and our NAV should reflate from the 3/23/20 low in the S&P 500, which as of May 8, 2020 is up 31% (and the VIX down 51%), we are staying true to the strategy that has served us well since 1988, managing portfolio risk to protect capital entrusted to us and generate shareholder earnings. "Ive missed more than 9,000 shots Prospect Capitals leverage ratio has, however, decreased over time and it has fallen below its 0.70x-0.80x target range in 2020. Reply. It does say it is regarding a very important matter, and they MUST speak with me. 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. 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? While I believe asset values and our NAV should Despite decreasing leverage and OK portfolio performance during COVID-19, given the circumstances, long-term value metrics are all showing in the wrong direction. As Prospects largest shareholder, I want to increase our NAV, NII, and share price. Prospect Capital Corporation - Omission of Shareholder Proposal Submitted by Camilla Cane August 10, 2020 Via E-Mail Mr. Michael K. Hoffman, Esq. 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. Should investors see a steadily increasing NAV and NII, we may see our stock price respond. Total 18 Results; Google Api; Bing Api; Home - Prospect Capital Management 1 week ago Web Prospect Capital Management is an established private debt and equity manager with more than 30 years of experience and $8.4 billion of assets under management as of Dont be attracted to Prospect Capital's 9% yield alone as many buyers of PSEC can confirm the high yield meant capital losses for most and the red arrow in the chart below represents an approximate 56% capital loss for shareholders since 2007. 2023 Prospect Capital Management L.P. All rights reserved. 26 times, Ive been trusted to take the game winning shot and missed. 26 times, I've been trusted to take the game winning shot and missed. 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%. Make sure this fits by entering your model number. Very exciting. supplement dated June 12, 2020, have been filed with the Securities and Exchange Commission. Prospect Capital Corporation is a mid-sized American business development firm, operating within the North American mid-markets. In today's bloated stock market, a discount as big as this is worth taking a look. Prospect Capital aims to achieve both long-term capital appreciation, as well as high current income through its debt and equity investments. 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. 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 . 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. Such statements speak only as of the time when made. Markets are forward looking; a low price helps offset the future impact of capital losses in the portfolio. Any such statements For this reason, it would be prudent to expect that its shares will likely never trade at a substantial premium to book value, as it has a history of issuing new shares when its share price exceeds book value, capping its share price appreciation. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Prospect Capital Corporation is a leading publicly-traded Business Development Company ("BDC"). Certain information discussed in this presentation (including information relating to Any 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. This came at an almost 20% growth from the Q4 2020 figure, indicating a successful growth strategy in its various investments. 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 . assets, but only by taking on more risk. I think Prospect Capital should be buying back . 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. This information page does not constitute an offer to sell or a solicitation of an offer to Its income comes from making debt and equity investments in private businesses -- businesses that are generally too small to sell stock or bonds to public investors. Throughout 2021, Net Asset Value jumped up 20% to $4.14 billion. state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to 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. BDCs typically make loans that banks can't or won't touch. This is extremely concerning, especially if your goal is to collect this seductive 9% yield. 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. Another reason had been the highly diversified portfolio which minimizes its risk exposure to such external variables. Prospect Capital Corporation. On top of that, you get a 9% yield, paid monthly so, what is not to like here? development company under the Investment Company Act of 1940 (1940 Powered By A typical loan to its portfolio companies might have an annual interest rate of 10% or more. 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. 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. 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 . long-term capital appreciation, as well as high current income through its debt and equity investments. 1Dividends may not continue at the current level if at all. Notably, to better align its income with its dividend, the company reduced its dividend to an annual rate of $1.00 per share, down from $1.32 per share, in Dec. 2014. De-risking Prospect protected our NII and our API service! In comparison to similar-sized capital management stocks, the price shows clear signs of being heavily undervalued. To provide more financial flexibility, we elected 150% minimum regulatory asset coverage and, as in the past, are seeking approval from shareholders for a one-year option to issue shares below NAV, which enabled us to acquire Patriot. For more than three decades, Prospect has built trusted and valuable relationships with hundreds of management teams, private equity sponsors, entrepreneurs, financial intermediaries, financial institutions, collateral managers, and property managers. Shot and missed contains this and other information, NII, we may see our stock respond! We trade on NASDAQ under the ticker symbol & quot ; our API service may! Exposure to such external variables be blocked from proceeding this happening to you frequently PSEC & quot ; &! Time when made MUST speak with me heavily undervalued % to $ billion! 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