Corporate ActionMay 8, 2026, 04:09 PM
Prospect Capital to Offer Up to $400M in Series A Preferred Stock
AI Summary
Prospect Capital Corporation entered into an equity distribution agreement to potentially issue and sell up to $400,000,000 aggregate liquidation preference of its 5.35% Series A Fixed Rate Cumulative Perpetual Preferred Stock. The shares will be sold through an "at the market offering" via sales agents, who will receive a commission of up to 2.0%. In connection with this offering, the company reclassified 16,000,000 shares of common stock into Series A Preferred Stock, decreasing the total common stock count.
Key Highlights
- Entered equity distribution agreement to sell Series A Preferred Stock.
- May issue and sell up to $400,000,000 aggregate liquidation preference.
- Shares are 5.35% Series A Fixed Rate Cumulative Perpetual Preferred Stock.
- Sales agents to receive commission of up to 2.0% of gross sales price.
- Reclassified 16,000,000 common shares into Series A Preferred Stock.
- Common stock count decreased from 1,248,117,104 to 1,232,117,104.