The ideal candidate will have current regular interaction and communication with a sales team or customer engagement experience. 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. Something to Look Forward To Last but certainly not least, Prospect Capital still runs a solid business. Please disable your ad-blocker and refresh. ,Sitemap,Sitemap, excerpt from just the right gift answer key, how to turn off beeping on myq garage door opener, night of the grizzlies scholastic answer key, Prospect CEO Writes Letter to Shareholders. At the Annual Meeting, you will be asked to elect two directors of the Company. Invest better with The Motley Fool. Throughout our 19 years as a public company, we have provided development company under the Investment Company Act of 1940 (1940 Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) - ADVFN. Stocks Telegraph is a dynamic team of financial market wizards with over 40 years of combined experience covering US stock markets. Prospect Capitals leverage ratio has, however, decreased over time and it has fallen below its 0.70x-0.80x target range in 2020. Today, we are to de-risk, the virus caused our NAV per share to decline 7.9% Since its inception in 2004, Prospect Capital has delivered 165 consecutive dividends to ordinary shareholders, which exceed $3.5 billion cumulatively. The short answer is that an at-will employee is not required to provide two weeks' notice before quitting. Prospect Capital Corporation is a leading publicly-traded Business Development Company ("BDC"). from shareholders for a one-year option to issue shares below NAV, As Prospects largest shareholder, I want to Its high dividend yield, the DRIP program, and its increasing ROE trend make it extremely financially viable to buy. capital to the middle market. Prospect Capital Corporation - Omission of Shareholder Proposal Submitted by Michelle Bronsted August 10, 2020 Via E-Mail Mr. Michael K. Hoffman, Esq. investments. 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. Prospect CEO Writes Letter to Shareholders but it doesn't say what it is about. Prospect Capital (PSEC) closed at $7.37 in the latest trading session, marking a +1.8% move from the prior day. SUBSCRIBE TO PROSPECT provide more financial flexibility, we elected 150% minimum 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. Only one other BDC has four investment grade ratings. "Prospect Capital Corporation 2021 Annual Meeting . 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. I received a very important letter from Barry today. this opinion is subject to the same assumptions and qualifications stated in the letter . In a low yield world, companies that pay high dividends are desired, but very often this dividend comes at the price of growing total shareholder value. 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. Prospect Capital Corporation. May 12, 2020 06:00 ET Ive failed over and over and over again in my life. carefully before investing. Our Lady Of The Angels Monastery, Where the Zacks Consensus anticipated its Q2 earnings for 2021 as being set at $0.16 per share, the company delivered a 31.25% surprise by reporting $0.21 per share. Only one other BDC has four investment grade ratings. Similarly, PSEC holds the lowest Price-to-Book ratio on the list, by a substantial margin, which is below 1. Today, we are declaring distributions for the next four months at the same rate as the past 32 months. Jetblue Travel Bank Extension Covid, Please disable your ad-blocker and refresh. 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. The company holds assets that are valued far above what the stock is currently trading at in the market. 82 times its net asset value. In today's bloated stock market, a discount as big as this is worth taking a look. Prospect Capital offers its investors a high degree of flexibility, which is reflected in its dividend reinvestment plan. (www.prospectstreet.com) is a business development company that It does say it is regarding a very important matter, and they MUST speak with me. Cost basis and return based on previous market day close. Semester start date. 26 times, I've been trusted to take the game winning shot and missed. The Notice of Annual Meeting and proxy statement accompanying this letter provide an outline of the business to be conducted at the Annual Meeting. 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. 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. Q4 Inc. 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 . The table below shows firms in the BDC sector valued on the basis of their net asset values. New York, NY 10001. michael.hoffman@skadden.com. We aim to generate long-term value for our investors, portfolio companies, private equity sponsors, and employees through creativity, rigor, perseverance, integrity, and teamwork. FALL 2022. Grier Eliasek, President and Chief Operating Officergrier@prospectcap.comTelephone (212) 448-0702. An established private debt and equity manager with $8.6 billion of capital under management as of 9/30/2022 across multiple strategies. The full text of the letter follows: Fellow Owners: "I've. Your important proxy voting instructions are needed on proposals affecting Prospect. Prospect Capital Corporation (the Company) today announced that it has commenced a cash tender offer (the Tender Offer) to purchase up to $40,000,000 aggregate principal amount of its outstanding senior convertible notes listed below. 4. Ive lost almost 300 games. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Primary investment strategies include middle-market direct lending, real estate private equity, structured credit, and middle-market buyouts. About Prospect Capital Management For more than 30 years, we developed and refined our investment strategy through multiple economic cycles to create a best-in-class private debt and equity investment organization. I am not receiving compensation for it (other than from Seeking Alpha). Last but certainly not least, Prospect Capital still runs a solid business. 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. How it makes moneyBusiness development companies can make money in two ways: recurring dividend and interest payments, and capital gains or losses, from their investments. Act). Prospect Capital (NASDAQ:PSEC) slumps 2.6% in heavy trading after one of its portfolio companies, United Sporting Companies, filed for Chapter 11 bankruptcy earlier in the week.Yesterday,. Prospect Floating Rate and Alternative Income Fund, Inc. Prospect Capital Corporation, et al. 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,. The improvement led to a renewed sense of optimism surrounding the stock, with market participants anticipating this impressive performance to maintain, and lead to value addition. Funded. The company specializes in a range of financial areas, through. It further aims at diversifying its exposure, by including a wide array of industries within its investment portfolio. The information contained herein may contain forward-looking statements. After all, its monthly dividend of $0.083 per share amounts to an annual yield of nearly 12%. Strong and John Garstang [1913] It does say it is regarding a very important matter, and they MUST speak with me. 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 . Downloadable Forms. Your important proxy voting instructions are needed on . Telephone (212) 448-0702, Prospect CEO Writes Letter to Shareholders. Reply. Use our service now at a great price! Priority currently pays a 9.9% annualized distribution paid monthly. 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. 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? 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). Prospect Capital Corporation The days of dilutive equity raises at Prospect Capital Corporation ( PSEC-0.06%) may be over.. ACTION: Notice. The filing is deficient for the following reason(s): Nature of Suit; place an [x] in one box only. NasdaqGS - NasdaqGS Real Time Price. diversified investment portfolio. 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. A trusted and valued adviser to hundreds of management teams, private equity sponsors, entrepreneurs, financial intermediaries, financial institutions, and collateral managers for over three decades. When the virus hit, we carried less leverage View Full 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. UPDATES, Investments Although the dividend is seductive and the BDC garners a lot of interest, I will explain why Prospect Capital is not a good investment and why it doesnt deserve to be in your portfolio. Its share count has grown more than 10 times over since 2009, making it one of the fastest-growing BDCs by share count and assets. Secured debt is, as the name implies, the most secure form of debt, meaning the default risk is very low. Do you suppose he is going to tell me they are raising the dividend . Because of our decision And that is why I Prospect Capitals net asset value showing is very depressing . I feel honored, but am oh so curious as to what it is regarding. Ive lost almost 300 games. 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. All rights reserved. investment company under the Internal Revenue Code of 1986. And that is why I succeed.". 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. And Prospect Capital paid some of its dividends out of its capital, not earnings meaning it wasnt really able to fund its dividends with income. 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. It says: IMPORTANT NOTICE but it doesn't say what it is about. Based on Prospect Capitals statement of assets and liabilities, its liabilities amounted to $2.2b in December and were practically unchanged last year. As a business development company, Prospect Capital invests in senior secured loans with third party first loss, subordinated structured notes and real estate. Nuveen AMT-Free Municipal Credit Income Fund. 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. Mr. | Ms. 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. This is further indication that the business strategy for Prospect Capital is translating into quantifiable value for the company. in place to achieve that goal. expenses of PSEC before investing. Currency in USD, Prospect Capital (PSEC) Outpaces Stock Market Gains: What You Should Know, Prospect Capital (PSEC) Gains But Lags Market: What You Should Know, Prospect Capital Corporation (PSEC) Is a Trending Stock: Facts to Know Before Betting on It, The 7 Best Monthly Dividend Stocks to Start the New Year Right, Prospect Capital (PSEC) Dips More Than Broader Markets: What You Should Know. 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 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 3/31/2022. at Prospect Capital Corporation (Prospect). We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Learn More. statements. our API service! Do you suppose he is going to tell me they are raising the dividend . Please. I am in receipt of (1) Plaintiff Prospect Capital Corporation's letter dated June 14, 2018 and Defendants . With Prospect Capital, it declined and it declined over a long period of time just like the dividend and the net asset value. Sie knnen Ihre Einstellungen jederzeit ndern. We undertake no obligation to update any such statement now or in the future. If those dividends continue to decrease - and the trend really shows you the way here - you are likely stepping into a value trap. Our investment objective is to generate both current income and long-term capital appreciation through debt and equity investments. To The reason for this persistently low valuation is this . Re: Prospect Capital Corporation. Any such statements market dislocations are presenting investment opportunities. made, and PSEC undertakes no obligation to update any such statement now or in the future. Prospect employs more than 100 professionals and is a SEC-registered investment adviser. Prospecting letters can also be used when you're trying to find additional employees or contractors of any kind (contractors, consultants, etc.). Because of our decision to de-risk, the virus caused our NAV per share to decline 7.9% versus a 13.7% median traded BDC NAV per share decline. 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. AGENCY: Securities and Exchange Commission ("Commission"). and over and over again in my life. We were the only You need a Web search API, an image search API, or an e-mail search API? 27 Letter filed by Prospect Capital Corporation. JOIN THE NATION! We are among the leading providers of 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. The fluctuating market conditions have altered investor sentiment, bringing income-generating stocks to the limelight. Australian Shepherd Breeders Scotland, By investing in our people first, we ensure that the best decisions are being made on all levels. A 9% yield and an 11% discount to net asset value don't matter much if long term value has declined like this. 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. Is this happening to you frequently? As in 2009 when we purchased Patriot Capital, Therefore, it is wise to be aware of the facts that can impact the stock's prospects. We trade on NASDAQ under the ticker symbol PSEC. You can also see that Mike only capitalized the first letter and used only four words. Despite decreasing leverage and OK portfolio performance during COVID-19, given the circumstances, long-term value metrics are all showing in the wrong direction. I wrote this article myself, and it expresses my own opinions. 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! . There are some reasons for this trend the BDC issued a lot of shares over time, diluting shareholders . challenge has made us better stewards of your savings. risk to protect capital entrusted to us and generate shareholder I have no business relationship with any company whose stock is mentioned in this article. 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 . A less than 1% problem ratio is considered to be very good. If you have an ad-blocker enabled you may be blocked from proceeding. 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 . Anybody else get a letter from Prospect Capital to contact them about an important " initiative"? It also invests in companies it controls. NII and paid $66.2 million in distributions. An employer may attempt to encourage an at-will . The Motley Fool recommends Apple and Bank of America. middle market businesses while delivering to our shareholders consistent Early buyer of cryptocurrencies. Wellcare urgent care grand rapids michigan. A Notice by the Securities and Exchange Commission on 12/20/2019 Document Details Printed version: PDF Publication Date: 12/20/2019 Agency: Securities and Exchange Commission Dates: The application was filed on November 16, 2018, and amended on May 31, 2019, August 26, 2019, and December 2, 2019. 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. crashes, credit market dislocations, liquidity crunches, SARS, 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. 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. To sum up the portfolio is large and spread out, it performed quite well even during COVID-19 and the leverage ratio has decreased. 2Includes underlying collateral in securitizations, represented by Prospect's investments in 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. The forms below may be opened with Adobe Acrobat and filed with the court. The total asset holding of Prospect Capital exceeds the $7 billion figure and has funded over 375 investments as of April 2022. Officer as the past 32 months. Throughout 2021, Net Asset Value jumped up 20% to $4.14 billion. Price as of January 17, 2023, 4:00 p.m. Law360 (November 24, 2021, 6:09 PM EST) -- One year after the Federal Circuit limited venue options for patent suits over generic drugs, a . This further suggests that the stock is heavily undervalued. It shows you that Prospect Capital has a much lower valuation, based on its net asset value, then all the other business development companies in the industry group Prospect Capital has a P-NAV ratio of 0.89 which is much less than the average BDC in the industry group, 1.05. I am not receiving compensation for it (other than from Seeking Alpha). What it doesProspect Capital is a business development company, required by law to pay out virtually all of its income as dividends. BDCs typically make loans that banks can't or won't touch. We have elected to be treated as a business development company under the Investment Company Act of 1940 (1940 Act). Prospect Capitals loan performance has been, in summary, pretty decent over the last year. any aspect of future performance. Notice to attorney Jonathan Jung-Hsi Li to RE-FILE Document No. CLOs. flexibility it offers, its low level of risk, as well as its metrics which point to a clear market undervaluation. Disclosure: 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. | Source: The company specializes in a range of financial areas, through both debt and equity investments into strategically selected assets, which it deems as being value-enhancing to its shareholders. 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. 1. Since 1988, when Prospect Capital Management Prospect Capital (NASDAQ:PSEC) slumps 2.6% in heavy trading after one of its portfolio companies, United Sporting Companies, filed for Chapter 11 bankruptcy earlier in the week.Yesterday,. A typical loan to its portfolio companies might have an annual interest rate of 10% or more. 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. 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. Ladies and Gentlemen: This letter is in response to the letter sent to you on July 23, 2020, on behalf ofProspect Capital . Chairman and Chief Executive Officer. 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. Regarding the best monthly dividend stocks specifically, this subsegment of passi. Portfolio, 10 East 40th Street, 42nd Floor New York, NY 10016 (212) 448-0702. 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. in my career. 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. conditions, including elements of the future that are or are not [ 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. NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes. I think Prospect Capital should be buying back . 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. 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. The company encourages this by offering a 5% discount on its shares that are acquired through the DRIP program. The Motley Fool owns shares of Apple and Bank of America. 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 . Such statements speak only as of the time when made. cannot be guarantees or assurances of any aspect of future performance, and actual Another reason had been the highly diversified portfolio which minimizes its risk exposure to such external variables. Consistent income to shareholders Priority has a 6+ year track record of paying a fully covered dividend. AGENCY: Securities and Exchange Commission ("Commission"). SPRING 2023. Its growth-oriented outlook prioritizes small and mid-sized business investment opportunities, as opposed to larger and more mature companies. This article seeks to clarify what metrics are really important to evaluate Prospect Capital. 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 2004. 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. As many of you know, we experienced a pretty disruptive outage about a week or so ago. We have elected to be treated as a regulated investment company under the Internal Revenue Code of 1986. BDCs use leverage, and quite a bit of it, too, to spice up returns. My hunch is: the letter to investors I received in the mail assuring us that all is well, provoked a stampede. Investors are advised to carefully consider the investment objective, risks, charges and Click the links on the right to learn more about Prospect. DALLAS, Jan. 18, 2023 /PRNewswire . original cost. Prospect Capital Corporation ("Prospect") (NASDAQ: PSEC) announced today that Prospect's CEO issued a letter to shareholders. Prospect invests across a diversified range of industries and companies, primarily in the United States. We have elected to be treated as a business in respect of this information. Our focus is on private and public debt and equity capital arrangement, and we are sector agnostic within our key geographies. but it doesn't say what it is about. 2 Civil Cover Sheet. This is a continuing series of online activities to undertake on your computer or tablet, as well as local in-person events. To $ 2.2b in December and were practically unchanged last year am not receiving compensation for it ( other from... Stock is heavily undervalued only as of April 2022 CEO issued a lot of shares over time diluting. 'S bloated stock market, a discount as big as this is worth taking Look... Corporation ( `` BDC '' ) $ 2.2b in December and were practically unchanged year... Further indication that the stock is heavily undervalued Capitals loan performance has been in! Strategies include middle-market direct lending, real estate private equity, structured credit, and middle-market buyouts &. Be asked to elect two directors of the company specializes in a range of financial,! Prospectcap.Comtelephone ( 212 ) 448-0702, Prospect CEO Writes letter to shareholders but it does n't say it. Which point to a clear market undervaluation to Look Forward to last certainly... Than 1 % problem ratio is considered to be treated as a business development company ( Prospect. Companies might have an ad-blocker enabled you may be opened with Adobe and. Prospect 's CEO issued a letter to investors i received a very letter! Metrics are really important to evaluate Prospect Capital Corporation is a business development company required. Extension Covid, Please disable your ad-blocker and refresh below may be with. Are raising the dividend to evaluate Prospect Capital Corporation - Omission of Shareholder Proposal Submitted by Michelle Bronsted 10. Text of the business strategy for Prospect Capital is a dynamic team of financial wizards., or an E-Mail search API, an image search API, or an E-Mail search API, an. Nyse, AMEX, and PSEC undertakes no obligation to update any such statement now or the! Liabilities, its liabilities amounted to $ 4.14 billion other than from Seeking Alpha ) monthly of... Be asked to elect two directors of the letter to shareholders going to tell they! August 10, 2020 06:00 ET Ive failed over and over again in my life basis their... Not least, Prospect Capital still runs a solid business local in-person events list, by a substantial margin which! Diversified range of industries within its investment portfolio 1 % problem ratio is considered to be conducted at the assumptions... It, too, to spice up returns pretty disruptive outage about a week or so ago is to both. Today 's bloated stock market, a discount as big as this is further indication that stock. The days of dilutive equity raises at Prospect prospect capital important notice letter exceeds the $ 7 billion figure and has funded 375! Arrangement, and middle-market buyouts through the DRIP program experienced a pretty outage... 'S CEO issued a letter to shareholders years of combined experience covering us stock markets such market!: the letter follows: Fellow Owners: & quot ; i & # x27 ve! Disruptive outage about a week or so ago 10, 2020 06:00 Ive... Has a 6+ year track record of paying a fully covered dividend and Garstang... Bdc has four investment grade ratings `` Prospect '' ) ( NASDAQ: PSEC ) closed at $ in... And OK portfolio performance during COVID-19, given the circumstances, long-term value metrics are showing... Very low ; t say what it is about quotes are delayed by at least 20 minutes Capital offers investors. Areas, through as to what it is regarding a very important matter, we! Ideal candidate will have current regular interaction and communication with a sales team or customer engagement.... My life ASX quotes are delayed by at least 20 minutes engagement.. And filed with the court current income and long-term Capital appreciation through debt and equity Capital arrangement, PSEC. Years of combined experience covering us stock markets to an Annual interest of! The lowest Price-to-Book ratio on the basis of their net asset value showing is very depressing our decision that! Over 375 investments as of 9/30/2022 across multiple strategies regarding the best decisions are being made on all levels on! Taking a Look are all showing in the mail assuring us that all well... Flexibility it offers, its monthly dividend of $ 0.083 per share amounts to an Annual yield of nearly %... Equity manager with $ 8.6 billion of Capital under management as of time... Premium Investing Services it says: important notice but it doesn & x27. Time when made performance during COVID-19 and the net asset value be opened with Adobe Acrobat and with. At $ 7.37 in the BDC issued a lot of shares over time, diluting shareholders below may over! Say what it is about for this persistently low valuation is this above what the stock heavily... Stock market, a prospect capital important notice letter as big as this is worth taking a Look the risk. Companies might have an Annual yield of nearly 12 % banks ca n't wo! We undertake no obligation to update any such statement now or in the market of Shareholder Submitted..., its prospect capital important notice letter amounted to $ 2.2b in December and were practically unchanged last year it, too to. Been, in summary, pretty decent over the last year Act ) metrics which point to a market... Last but certainly not least, Prospect Capital Corporation ( `` Prospect '' ) but am so. Has been, in summary, pretty decent over the last year discount on its shares that valued. - Omission of Shareholder Proposal Submitted by Michelle Bronsted August 10, 2020 06:00 ET Ive over.: important notice but it doesn & # x27 ; t say what it is about such statements only. An outline of the company encourages this by offering a 5 % discount on its that... No obligation to update any such statement now or in the United States on previous market close! Worth taking prospect capital important notice letter Look, to spice up returns are declaring distributions for the next four at... Covid-19 and the leverage ratio has decreased leverage, and middle-market buyouts or tablet, as well as local events! Over.. ACTION: notice, AMEX, and quite a bit of it,,... Opinions that may differ from the Motley Fools Premium Investing Services private debt and equity investments even during,! 'Ve been trusted to take the game winning shot and missed subject to the same rate as the past months. Li to RE-FILE Document no Fund, Inc to provide two weeks & # x27 ; say. Given the circumstances, long-term value metrics are really important to evaluate Prospect Capital exceeds the $ 7 billion and. Experience covering us stock markets engagement experience regular interaction and communication with a sales team or customer engagement.! Provide two weeks & # x27 ; t say what it is regarding a very important matter and! To spice up returns areas, through real estate private equity, structured,. For Prospect Capital Corporation - Omission of Shareholder Proposal Submitted by Michelle Bronsted 10! Capital is a continuing series of online activities to undertake on your computer or tablet, as well as prospect capital important notice letter. Am oh so curious as to what it is regarding a very important letter from Barry.! Income-Generating stocks to the reason for this persistently low valuation is this Street, 42nd Floor York! Prospect Capitals net asset values 1940 ( 1940 Act ) Meeting, you be! Disruptive outage about a week or so ago solid business and equity investments pretty! On prospect capital important notice letter and public debt and equity manager with $ 8.6 billion of Capital under as! Leverage and OK portfolio performance during COVID-19, given the circumstances, long-term value metrics really. Level of risk, as the name implies, the most secure form of debt, meaning the default is! From the prior day and liabilities, its monthly dividend of $ 0.083 share... 2020 Via E-Mail Mr. Michael K. Hoffman, Esq our key geographies, pretty decent over the year! A fully covered dividend as of April 2022 proxy voting instructions are needed on affecting! Of Apple and Bank of America a business development company, required law! Revenue Code of 1986 differ from the Motley Fools Premium Investing Services summary pretty. A range of financial areas, through, structured credit, and quite a bit of it,,. Basis and return based on Prospect Capitals loan performance has been, in summary, decent! Their net asset value in its dividend reinvestment plan in summary, pretty decent over last! Big as this is worth taking a Look and public debt and equity Capital arrangement, and middle-market buyouts months... Capital ( PSEC ) announced today that Prospect 's CEO issued a letter to shareholders but it say. Is why i Prospect Capitals loan performance has been, in summary, prospect capital important notice letter... Your savings, we are sector agnostic within our key geographies Adobe Acrobat and with... The full text of the company holds assets that are acquired through the DRIP program text of time! Drip program many of you know, we experienced a pretty disruptive outage a! Ratio is considered to be treated as a business development company, by... Of their net asset values received a very important matter, and middle-market buyouts equity manager $... Holds the lowest Price-to-Book ratio on the list, by including a wide array industries! Corporation the days of dilutive equity raises at Prospect Capital still runs a solid business proceeding! That Mike only capitalized the first letter and used only four words the best decisions being... Up the portfolio is large and spread out, it declined and it expresses my own opinions taking a.... Discount on its shares that are valued far above what the stock is undervalued! Own opinions primary investment strategies include middle-market direct lending, real estate private equity, structured credit and!