Prospect Capital Corporation (NASDAQ:PSEC) Files An 8-K Other Events

Prospect Capital Corporation (NASDAQ:PSEC) Files An 8-K Other Events
Item 8.01. Other Events.

On November 17, 2020, Prospect Capital Corporation (the “Company”) announced that it has commenced two separate tender offers to purchase for cash (the “Tender Offers”) (i) up to $30,000,000 aggregate principal amount of the Company’s outstanding 5.875% senior notes due 2023 (the “2023 Notes”), of which $320,000,000 aggregate principal amount is currently outstanding, and (ii) up to $10,000,000 aggregate principal amount of the Company’s outstanding 6.375% notes due 2024 (the “2024 Notes”), of which $100,000,000 aggregate principal amount is currently outstanding. The Tender Offers were made exclusively to an offer to purchase dated November 17, 2020, which set forth the terms and conditions of the Tender Offers.
The Tender Offers expired at 12:00 midnight, New York City time, on December 16, 2020 (one minute after 11:59 p.m., New York City time, on December 15, 2020). As of the expiration of the Tender Offers, (i) $36,644,000 aggregate principal amount of the 2023 Notes, representing approximately 11.45% of the outstanding 2023 Notes, and (ii) $11,848,000 aggregate principal amount of the 2024 Notes, representing approximately 11.85% of the outstanding 2024 Notes, were validly tendered and not validly withdrawn to the Tender Offers. The Company has accepted for purchase $30,000,000 aggregate principal amount of the 2023 Notes that were validly tendered and not validly withdrawn to the applicable Tender Offer at the expiration of such Tender Offer (applying a proration factor of approximately 82.27%) at the applicable Purchase Price (plus accrued and unpaid interest on such 2023 Notes, if any, from September 15, 2020, up to but not including the Settlement Date). The Company has accepted for purchase $10,000,000 aggregate principal amount of the and not validly withdrawn to the applicable Tender Offer at the expiration of such Tender Offer (applying a proration factor of approximately 84.56%) at the applicable Purchase Price (plus accrued and unpaid interest on such 2024 Notes, if any, from July 15, 2020, up to but not including the Settlement Date). Following settlement of the Tender Offers, (i) approximately $290,000,000 aggregate principal amount of the 2023 Notes will remain outstanding, and (ii) approximately $90,000,000 aggregate principal amount of the 2024 Notes will remain outstanding.
About Prospect Capital Corporation (NASDAQ:PSEC)

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Prospect Capital Corporation is a financial services company. The Company primarily lends to and invests in middle market privately held companies. The Company is a closed-end investment company. Its investment objective is to generate both current income and long-term capital appreciation through debt and equity investments. The Company 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. The Company makes investments, including lending in private equity sponsored transactions, lending directly to companies not owned by private equity firms, control investments in corporate operating companies, control investments in financial companies, investments in structured credit, real estate investments, investments in syndicated debt, aircraft leasing and online lending. The Company is managed by its investment advisor, Prospect Capital Management L.P.

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