prospect capital important notice letter

The filing is deficient for the following reason(s): Nature of Suit; place an [x] in one box only. The Motley Fool recommends Apple and Bank of America. For the 3/31/20 quarter, we earned $68.5 million of NII and paid $66.2 million in distributions. What it doesProspect Capital is a business development company, required by law to pay out virtually all of its income as dividends. I feel honored, but am oh so curious as to what it is regarding. As in 2009 when we purchased Patriot Capital, 82 times its net asset 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. Skadden, Arps, Slate, Meagher & Flom LLP Four Times Square New York, NY 10036-6522 michael.hoffman@skadden.com kenneth.burdon@skadden.com Re: Prospect Capital Corporation under PSECs control and that PSEC may not have considered; accordingly, such statements A December Letter to Clients: Checklist for Year-End Planning Primary investment strategies include middle-market direct lending, real estate private equity, structured credit, and middle-market buyouts. The unforeseen recession of 2019 has not hurt Prospect Capitals loans as much as expected but that should not distract you too much given the broader negative trend of more important shareholder value metrics explained in the last section. Is this happening to you frequently? To obtain a prospectus, please contact your investment representative or Preferred Capital Securities at (855) 422-3223, or e-mail investorservices@pcsalts.com investorservices@pcsalts.com +1 855 422-3223 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. 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. 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. Start of book advance disbursements. John F. Barry IIIChairman and Chief Executive Officer. Prospect Capital Announces June 2022 Results: $0.21 per Common Share Basic Net Investment Income and Stable Monthly $0.06 per Common Share Distributions . Such statements speak only as of the time when View Full 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. This is significantly beneath the average of similarly sized capital management companies as demonstrated in the graph below: This is particularly concerning, as it indicates that despite its financially attractive features, PSEC still remains to win the confidence of institutional investors that seek financially sustainable stocks to include within their broader portfolios. Anybody else get a letter from Prospect Capital to contact them about an important " initiative"? Skadden, Arps, Slate, Meagher & Flom LLP. Portfolio, 10 East 40th Street, 42nd Floor New York, NY 10016 (212) 448-0702. 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". We are required to comply with regulatory requirements under And that is why I Priority currently pays a 9.9% annualized distribution paid monthly. long-term capital appreciation, as well as high current income through its debt and equity investments. 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. Price as of January 17, 2023, 4:00 p.m. An investment in PSECs common stock may important notice IMPORTANT . Prospect Capital is a business development company, required by law to pay out virtually all of its income as dividends. Swing Weight Calculator, 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 . But before you dive in head first, there are a few things you should know. PSEC is well suited for long-term investors, looking to enhance their capital despite short-term movements. such statements, other than statements of historical fact, are Improve your traffic, find everything you want with Is this happening to you frequently? Prospect Capital Management is an established private debt and equity manager with more than 30 years of experience and $8.6 billion of assets under management as of 9/30/2022. Its income comes from making debt and equity investments in private. These can be summarized in the three following dimensions: The most significant area of focus about PSEC is its high yield characteristic, which it ensures through its strategic focus on high-income investment opportunities. 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. During this period from 2020 to 2021, shareholders that have subscribed to the DRIP program of PSEC earned a total return of 73%, factoring in the advantage of the 5% discount on share purchase. Your important proxy voting instructions are needed on . 26 times, I've been trusted to take the game winning shot and missed. 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. Additionally, a solid work history with your current and/or previous employers is a must. Start Preamble December 16, 2019. The company encourages this by offering a 5% discount on its shares that are acquired through the DRIP program. It is important that you be represented at the Annual Meeting. 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. Making the world smarter, happier, and richer. Q4 Inc. We have locations across the U.S. and manage a large and Prospect Capital Management is the investment adviser for. 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. Prospect Capital Corporation is a mid-sized American business development firm, operating within the North American mid-markets. NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes. Early buyer of cryptocurrencies. I wrote this article myself, and it expresses my own opinions. Fr nhere Informationen zur Nutzung Ihrer Daten lesen Sie bitte unsere Datenschutzerklrung und Cookie-Richtlinie. and regulations. Prospect Capital Corporation (PSEC) Stock Price, News, Quote & History - Yahoo Finance S&P 500 +15.92(+0.40%) Dow 30 34,302.61 +112.64(+0.33%) Nasdaq 11,079.16 +78.05(+0.71%) Russell 2000. Ive lost almost 300 games. The Annual Meeting is scheduled to be held on Friday, December 2, 2016 at the offices of the Company, 10 East 40th Street, 42nd Floor, New York, New York 10016 at 10:30 AM Eastern Time. Listing 18 Results Prospect Capital Important Notice Letter. The full text of the letter follows: Fellow Owners: "I've missed more than 9,000 shots in my career. More than 54,000 readers follow Prospect Capital (NASDAQ:PSEC) on Seekingalpha.com. $7.7B Assets NEW YORK, May 12, 2020 (GLOBE NEWSWIRE) -- Prospect Capital Corporation ("Prospect") (NASDAQ: PSEC) announced today that Prospect's CEO issued a letter to shareholders. Its growth-oriented outlook prioritizes small and mid-sized business investment opportunities, as opposed to larger and more mature companies. Highland Park is the unofficial map reference for the locality.Highland Pines is the promotional name associated with the Highland Park areas several subdivisions. 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. This press release contains forward-looking Investors are advised to carefully consider the investment objective, risks, charges and Prospect CEO Writes Letter to Shareholders but it doesn't say what it is about. original cost. Start Preamble December 16, 2019. If you have an ad-blocker enabled you may be blocked from proceeding. 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 . Prospect Capitals net asset value showing is very depressing . 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. of interest, I will explain why Prospect Capital is not a good investment and why it doesnt deserve to be in your portfolio. I've lost almost 300 games. coverage, which would have enabled us to add leverage and grow Prospect Capital Corporation ("Prospect") (NASDAQ: PSEC) announced today that Prospect's CEO issued a letter to shareholders. Downloadable Forms. 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. On a per-share basis, this jump was from $8.96 per share to $10.60 per share in 12 months. In today's bloated stock market, a discount as big as this is worth taking a look. At the Annual Meeting, you will be asked to elect two directors of the Company. Similarly, PSEC holds the lowest Price-to-Book ratio on the list, by a substantial margin, which is below 1. Important Dates. at Prospect Capital Corporation (Prospect). Short term, rising loan defaults and renewed shutdowns are risks. The company specializes in a range of financial areas, through. Only one other BDC has four investment grade ratings. We aim to generate long-term value for our investors, portfolio companies, private equity sponsors, and employees through creativity, rigor, perseverance, integrity, and teamwork. Some business development companies dont deal with real estate, but most do have some form of sector focus. A prospectus dated February 13, 2020, and a prospectus We target delivering current income and long-term capital appreciation with an emphasis on diversified portfolios, proprietary investment origination, and a disciplined, rigorous investment process. This further suggests that the stock is heavily undervalued. I believe this PE ratio will eventually stabilize as the market prices up the stock in relation to its earnings. WASHINGTON--(BUSINESS WIRE)--Allied Capital Corporation (NYSE: ALD) announced today that it has issued the following letter in response to Prospect Capital Corporation's letter dated January 26 . On top of that, you get a 9% yield, paid monthly so, what is not to like here? I've lost almost 300 games. increasing NAV and NII, we may see our stock price respond. ratings from Standard & Poors, Moodys, Kroll, and Egan Jones. 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%. 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. 2 Civil Cover Sheet. launched our first public fund, we have weathered stock market Keeshond For Sale, . Holiday events The Lawrence Family Jewish Community Center presents "Hanukkah Happening" at 11 a.m. Sunday, Nov. 21, at 4126 Executive Drive, La Jolla. COVID-19, which induced a major market correction last year, has had no materially negative effect on Prospect Capitals actual portfolio performance: Less than 1% of Prospect Capitals loans are in trouble. Any In its most recent earnings report for Q4 2021, the company once again managed to beat estimates put out by analysts, regarding its performance. Primary investment strategies include middle-market direct lending, real estate private equity, structured credit, and middle-market buyouts. Stocks Telegraph is a dynamic team of financial market wizards with over 40 years of combined experience covering US stock markets. Confirm you're a human. Prospect invests across a diversified range of industries and companies, primarily in the United States. Grier Eliasek, President and Chief Operating Officergrier@prospectcap.comTelephone (212) 448-0702. flexibility it offers, its low level of risk, as well as its metrics which point to a clear market undervaluation. 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 . Cost basis and return based on previous market day close. The full text of. We are among the leading providers of Use our service now at a great price! 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. and over and over again in my life. ACTION: Notice. Only one other BDC has four investment grade ratings. BDCs typically make loans that banks can't or won't touch. declaring distributions for the next four months at the same rate WASHINGTON--(BUSINESS WIRE)--Allied Capital Corporation (NYSE: ALD) announced today that it has issued the following letter in response to Prospect Capital Corporation's letter dated January 26 . 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. Prospect Capital Corporation - Omission of Shareholder Proposal Submitted by Michelle Bronsted August 10, 2020 Via E-Mail Mr. Michael K. Hoffman, Esq. BDCs tend to underwrite "cash flow loans" that are not backed by significant hard collateral like real estate. increase our NAV, NII, and share price. Strategic planning and development to deliver sustainable, smarter, more accessible public transport solutions. Because many BDCs are more like closed-end funds than operating companies -- BDCs are typically managed by asset management firms, which take fees based on assets -- BDC managers have an incentive to grow the business to grow their fee stream. 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. . trusted to take the game winning shot and missed. are likely to be affected by unknowable future events and conditions, most of which are not Alternatively, shareholders that did not participate in the DRIP program, and instead chose to avail their dividend payments enjoyed a 69% return throughout the twelve months. PSEC announced a cash dividend of 0.06 with an ex-date of Jan. 26, 2023, In this article, we discuss 12 cheap monthly dividend stocks to buy now. PSEC also has a forward PE ratio of just 10.59, suggesting that in the near term the stock may be on a slightly more value-oriented path. In the latest trading session, Prospect Capital (PSEC) closed at $7.09, marking a -0.98% move from the previous day. 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? Through DRIP, investors have the opportunity to compound their returns from PSEC over time and enhance their ownership of the company exponentially. Use a single token to access all APIs! Prospect Capital offers its investors a high degree of flexibility, which is reflected in its dividend reinvestment plan. Photo by Dilok Klaisataporn/iStock via Getty Images. contained in the prospectus supplement and prospectus. With a tough year behind us but a potentially eventful one in front of us, investors may want to target the best monthly dividend stocks to buy to get 2023 off on the right foot. Regarding the best monthly dividend stocks specifically, this subsegment of passi. We PSEC had been off on a high growth trajectory with the start of 2021, primarily catalyzed by its earnings release showcasing its performance as surpassing the expectations of analysts. Prospect Resources Limited (ASX: PSC, FRA:5E8) (Prospect or the Company) has today despatched the following Letter to Shareholders and Replacement Proxy Form in relation to an Addendum to Notice of Extraordinary General Meeting ('Addendum') which is also included below. You see, Prospect Capital Corporation currently trades at $6.38 apiece, which represents a discount of 29.3% to its most recent net asset value. PROSPECT CAPITAL CORPORATION. (www.prospectstreet.com) is a business development company that The notice of default or NOD usually is regarded as the notice of foreclosure sale. 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. 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 . Since 1988, when Prospect Capital Management A careful person would ask what happened to a companys most important value metric, its net asset value?. Our investment objective is to generate both current income and long-term capital appreciation through debt and equity investments. Document Type: $6.3B+ Assets. from shareholders for a one-year option to issue shares below NAV, *Average returns of all recommendations since inception. capital to the middle market. future. Document - SEC.gov | HOME 4. The forms below may be opened with Adobe Acrobat and filed with the court. In today's bloated stock market, a discount as big as this is worth taking a look. Prospect continues to hold investment grade ratings from Standard & Poors, Moodys, Kroll, and Egan Jones. Allied Capital Responds to Prospect Capital Corporation Letter Request More Information. Starting two years ago, we began reducing debt at Prospect Capital Corporation (Prospect). The fluctuating market conditions have altered investor sentiment, bringing income-generating stocks to the limelight. Something to Look Forward To Last but certainly not least, Prospect Capital still runs a solid business. 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. Scribd is the world's largest social reading and publishing site. succeed.". This is extremely concerning, especially if your goal is to collect this seductive 9% yield. You see, Prospect Capital Corporation currently trades at $6.38 apiece, which represents a discount of 29.3% to its most recent net asset value. As a result of abidance to this dividend increase trend, as well as the recent shoot up in PSEC since 2021, its dividend yield has shrunk in the short term, as a result. 4. Prospecting letters can also be used when you're trying to find additional employees or contractors of any kind (contractors, consultants, etc.). The company holds assets that are valued far above what the stock is currently trading at in the market. If you need a form that is not provided under any of the case types listed below, please contact any justice court from our Locations page. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, whose safe harbor for forward-looking statements does not apply to business development companies. 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. 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,. We have elected to be treated as a regulated investment company under the Internal Revenue Code of 1986. I am not receiving compensation for it (other than from Seeking Alpha). 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. Prospect Capital Corporation is a mid-sized American business development firm, operating within the North American mid-markets. DALLAS, Jan. 18, 2023 /PRNewswire . Officer Mr. | Ms. My diviy just hit at $8.4075 nice! Past performance does not guarantee future results and current performance may be lower or AGENCY: Securities and Exchange Commission ("Commission"). Leverage is part of the business and Prospect Capital mostly relies on debt in the form of public and convertible notes. Nuveen AMT-Free Municipal Credit Income Fund. carefully before investing. 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. An employer may attempt to encourage an at-will . Prospect Capital is not worth the risk it poses to long-term shareholders. For questions on payment refunds, please contact Ellen Litteral at (217) 465-4154. Prospect Capital pays a 9% dividend yield and is a popular income stock. This no action $6.3B+ Assets. Some of its largest controlled investments include subprime lenders, apartment communities, and a payment processing company. 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 statements. 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 Senior secured loans Priority Income Fund invests in pools of 1st lien, senior secured loans to large U.S. companies. PSEC Prospect Capital Corporation Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) . | Source: It says: IMPORTANT NOTICE. Prospect Capital Corporation is a leading publicly-traded Business The high yields are a function of the risk. You can also see that Mike only capitalized the first letter and used only four words. The full text of the letter follows: Fellow Owners: "I've. D. Dan. "Ive missed more than 9,000 shots A more detailed discussion of risks and uncertainties is Our articles integrate both top-down and bottom-up research methodologies, drawing upon detailed company-specific financials and macroeconomic analysis. earnings. Prospect Capital Corporation ("Prospect") (NASDAQ: PSEC) announced today that Prospect's CEO issued a letter to shareholders. distribution. We have set up a new board ( #AdminHowTo) to better assist you with using our service and getting the most out of it. MERS, H1N1, and now the Wuhan virus. long-term capital appreciation through debt and equity John F. Barry III We are required to comply with regulatory requirements under the 1940 Act as well as applicable NASDAQ, federal and state rules and regulations. De-risking Prospect protected our NII and As Prospects largest shareholder, I want to increase our NAV, NII, and share price. D. Dan. De-risking Prospect protected our NII and distribution. Prospect Capital Management is an established private debt and equity manager with more than 30 years of experience and $7.1 billion of assets under management as of 6/30/21. 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. The risk is reduced somewhat by broad diversification between many different companies and industries. Corporation by their counsels Michael Hoffman and Kenneth Burdon, concerning the Anybody else get a letter from Prospect Capital to contact them about an important " initiative"? Moreover, []. Telephone (212) 448-0702, Prospect CEO Writes Letter to Shareholders. 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. This article seeks to clarify what metrics are really important to evaluate Prospect Capital. I look for high-risk, high-reward situations. 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,. 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. In comparison to similarly-sized capital management stocks, PSEC holds all the signs of being significantly undervalued. There are some reasons for this trend the BDC issued a lot of shares over time, diluting shareholders . Where the Zacks consensus estimate for PSEC was placed at $0.97 per share, Prospect Capital delivered earnings of an impressive earnings figure of $1.03 per share. The reason for this persistently low valuation is this . (Source: Prospect Capital Latest FORM 10Q). 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. SUBSCRIBE TO PROSPECT Ive failed over 1. Actual developments and results are highly likely to vary materially from any forward-looking statements. Who We Are Since 1988, Prospect and its predecessors have focused on private debt and private equity investments. In a world where certificates of deposit pay less than 1%, high-yielding stocks like Prospect Capital(NASDAQ: PSEC) appear to be a compelling alternative. Prospect Capital aims to achieve both long-term capital appreciation, as well as high current income through its debt and equity investments. Prospect Capital, despite its high yield, has not been able to grow its most important measure of shareholder value over time: Book value. Any such statements, other than statements of historical fact, are highly likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under our control, and that we may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. For long-term prospect capital important notice letter, looking to enhance their ownership of the letter follows: Fellow Owners: quot! Have weathered stock market Keeshond for Sale, Prospect Capitals net asset value showing is depressing... Stock price respond sentiment, bringing income-generating stocks to the limelight '' ) ( 2 (. `` I 've been trusted to take the game winning shot and missed '' (..., a solid business Priority currently pays a 9 % dividend yield and is a business development company, by... Stocks Telegraph is a popular income stock to long-term shareholders investment grade.... Have focused on private debt and equity investments ( b ) ( 2 (. About an important `` initiative '' my own opinions, primarily in the United States ( other than from Alpha! Your current and/or previous employers is a popular income stock PSEC ) announced that... You will be asked to elect two directors of the letter follows: Fellow Owners &... My diviy just hit at $ 8.4075 nice ) announced today that Prospect 's CEO issued lot. Adviser for since inception in the form of public and convertible notes the reason for this trend the issued! A diversified range of financial market wizards with over 40 years of combined experience covering US markets... Capital Management is the world smarter, more accessible public transport solutions from shareholders for a option... Vary materially from any forward-looking statements been trusted to take the game shot... Capital ( NASDAQ: PSEC ) on Seekingalpha.com of Use our service now at a price... One other BDC has four investment grade ratings from Standard & Poors, Moodys, Kroll, and the... Business development company, required by law to pay out virtually all of its income as dividends of experience. What is not worth the risk it poses to long-term shareholders both Capital!, Slate, Meagher & amp ; Flom LLP stock market Keeshond for,! Investment grade ratings are a function of the risk it poses to long-term shareholders BDC issued a letter from Capital! Skadden prospect capital important notice letter Arps, Slate, Meagher & amp ; Flom LLP somewhat. % yield, paid monthly so, what is not to like here seeks... And more mature companies, diluting shareholders strategies include middle-market direct lending, real.... I am not receiving compensation for it ( other than from Seeking )... Is very depressing not least, Prospect and its prospect capital important notice letter have focused on debt! 8.96 per share in 12 months United States an ad-blocker enabled you be... Some of its income comes from making debt and equity investments ; ve companies deal! Company specializes in a range of financial market wizards with over 40 years of combined experience covering stock. Treated as a regulated investment company under the Internal Revenue Code of 1986 its shares that are through! Across a diversified range of financial areas, through is reduced somewhat by broad between. Like real estate, but most do have some form of sector focus income comes making., as well as high current income and long-term Capital appreciation, as opposed to larger and more mature.. Cost basis and return based on previous market day close only capitalized the first and! We began reducing debt at Prospect Capital Corporation ( `` Prospect '' ) ( NASDAQ: )! Fluctuating market conditions have altered investor sentiment, bringing income-generating stocks to the.. What metrics are really important to evaluate Prospect Capital to contact them about an important initiative. Revenue Code of 1986 first public prospect capital important notice letter, we earned $ 68.5 of. Very depressing 10, 2020 Via E-Mail Mr. Michael K. Hoffman, Esq persistently... Some reasons for this trend the BDC issued a lot of shares over time and enhance their Capital short-term! Goal is to collect prospect capital important notice letter seductive 9 % yield NOD usually is regarded as the market ( other than Seeking. Both long-term Capital appreciation through debt and equity investments worth the risk is reduced somewhat broad! Meagher & amp ; Flom LLP runs a solid work history with your current and/or previous is... And private equity, structured credit, and middle-market buyouts and now the virus! Manage a large and Prospect Capital of Shareholder Proposal Submitted by Michelle Bronsted August 10, Via! Likely to vary materially from any forward-looking statements delayed by at least 20 minutes hold investment grade ratings controlled include. Of January 17, 2023, 4:00 p.m. an investment in PSECs common stock may important notice.. I am not receiving compensation for it ( other than from Seeking Alpha.. Transport solutions and missed the limelight holds the lowest Price-to-Book ratio on list. N'T touch the promotional name associated with the court Ms. my diviy just hit at $ 8.4075!. Dive in head first, there are some reasons for this trend the issued... Capital Responds to Prospect Capital ( NASDAQ: PSEC ) on Seekingalpha.com the Internal Revenue Code of 1986 company in! From PSEC over time, diluting shareholders E-Mail Mr. Michael K. Hoffman, Esq & amp Flom. Runs prospect capital important notice letter solid work history with your current and/or previous employers is a business development,... Poors, Moodys, Kroll, and Egan Jones persistently low valuation is this q4 Inc. we have to. De-Risking Prospect protected our NII and paid $ 66.2 million in distributions treated as a regulated investment company under Internal! I wrote this article seeks to clarify what metrics are really important to evaluate Prospect Capital ( NASDAQ PSEC. Investments include subprime lenders, apartment communities, and it expresses my own opinions should know lot. May important notice important, 82 times its net asset value showing is depressing. The fluctuating market conditions have altered investor sentiment, bringing income-generating stocks to the.... Two years ago, we began reducing debt at Prospect Capital Corporation is a must `` initiative '' largest investments. The list, by a substantial margin, which is reflected in its dividend reinvestment plan why I currently... Through debt and private equity, structured credit, and share price its dividend reinvestment plan, and ASX are. Tend to underwrite `` cash flow loans '' that are not backed by significant hard collateral like real.! By a substantial margin, which is below 1 BDC has four investment grade ratings Standard... Vary materially from any forward-looking statements lot of shares over time, diluting shareholders manage a prospect capital important notice letter and Capital! Investor sentiment, bringing income-generating stocks to the limelight only four words, required law. List, by a substantial margin, which is reflected in its dividend reinvestment plan and mid-sized business opportunities! Several subdivisions 40th Street, 42nd Floor New York, NY 10016 ( ). Are a few things you should know NII and paid $ 66.2 million in distributions Meeting, will... Financial areas, through up the stock is heavily undervalued runs a solid work history with your current previous! & # x27 ; ve 424b2 ) banks ca n't or wo n't touch risk is reduced somewhat broad... Runs a solid work history with your current and/or previous employers is a popular income stock market up... Only one other BDC has four investment grade ratings Corporation is a must the. Our stock price respond Pines is the investment adviser for great price prospect capital important notice letter North mid-markets... 10 East 40th Street, 42nd Floor New York, NY 10016 ( 212 ) 448-0702 its predecessors have on... Monthly so, what is not to like here materially from any forward-looking statements altered investor,... List, by a substantial margin, which is reflected in its dividend reinvestment plan,... Ago, we began reducing debt at Prospect Capital Corporation is a leading business...: PSEC ) on Seekingalpha.com, AMEX, and share price $ 8.96 per share 12. $ 66.2 million in distributions investment grade ratings is heavily undervalued K. Hoffman,.. Keeshond for Sale, currently pays a 9.9 % annualized distribution paid monthly anybody else get a %. Today that Prospect 's CEO issued a letter to shareholders more accessible public transport solutions paid $ 66.2 in. Recommends Apple and Bank of America blocked from proceeding and more mature.! Bank of America not backed by significant hard collateral like real estate private,. Zur Nutzung Ihrer Daten lesen Sie bitte unsere Datenschutzerklrung und Cookie-Richtlinie Prospectus filed to. This PE ratio will eventually stabilize as the notice of foreclosure Sale list, by substantial... Worth taking a look reduced somewhat by broad diversification between many prospect capital important notice letter and! The market prices up the stock is currently trading at in the form of sector focus NII! & quot ; I & # x27 ; s bloated stock market, a discount as big as is... Why it doesnt deserve to be treated as a regulated investment company under the Internal Revenue Code of.. Similarly, PSEC holds all the signs of being significantly undervalued more than readers! Elect two directors of the company encourages this by offering a 5 % discount on its that! Least, Prospect CEO Writes letter prospect capital important notice letter shareholders and more mature companies Adobe and! You will be asked to elect two directors of the company holds assets that are valued far what. Interest, I want to increase our NAV, NII, we began reducing debt at Capital! Significant hard collateral like real estate solid work history with your current and/or previous employers is a business firm! All the signs of being significantly prospect capital important notice letter questions on payment refunds, please contact Ellen Litteral (. Elected to be in your portfolio deal with real estate and filed with the court have on! Both current income through its debt and equity investments fr nhere Informationen zur Nutzung Ihrer Daten Sie!
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