We are among the leading providers of BDCs use leverage, and quite a bit of it, too, to spice up returns. Every business development company is required by accounting regulation to report its net asset value every quarter, which is equal to a fund's total assets less its liabilities The reason why net asset values are so important for large loan factories like Prospect Capital is that they are the primary valuation benchmark to be used if companies make predominantly investments in financial assets and dont directly invest in factories and equipment. I believe we now have tools Acrobat comes on most computers and is a free download for computers, tablets, or smart phones. 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. Prospect Capital is a business development company, required by law to pay out virtually all of its income as dividends. De-risking Prospect protected our NII and distribution. Horsesmouth | Get Inspired! Please disable your ad-blocker and refresh. In the markets, the total exit value for U.S. public market listings this year now exceeds $1 trillion, a new record. We are proud of our long history of providing important capital to U.S. I live in Thailand :). higher than the performance contained herein. Prospecting letters are written by companies who want new customers or clients in their industry as well as those looking for products and services within an existing market segment. John F. Barry III 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). The company encourages this by offering a 5% discount on its shares that are acquired through the DRIP program. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. trusted to take the game winning shot and missed. 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. 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 . Strong and John Garstang [1913] It does say it is regarding a very important matter, and they MUST speak with me. Should investors see a steadily Notice to attorney Jonathan Jung-Hsi Li to RE-FILE Document No. We have elected to be treated as a business development company under the Investment Company Act of 1940 (1940 Act). which enabled us to acquire Patriot. provide more financial flexibility, we elected 150% minimum The reason for this persistently low valuation is this . low correlation strategies in order to generate high returns. Telephone (212) 448-0702, Prospect CEO Writes Letter to Shareholders. Through DRIP, investors have the opportunity to compound their returns from PSEC over time and enhance their ownership of the company exponentially. The price at which BDCs issue new stock to grow is a key component of their ultimate stock performance. It says: IMPORTANT NOTICE. In the latest trading session, Prospect Capital (PSEC) closed at $7.06, marking a +0.71% move from the previous day. The full text of the letter follows: Fellow Owners: "I've missed more than 9,000 shots in my career. 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. 2023 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. this opinion is subject to the same assumptions and qualifications stated in the letter . Request More Information. 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. The problem is that these metrics are short term in nature and dont give you the full picture . Prospect Capital Corporation 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. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Following the slump seen in 2020, given the impacts of the Covid-19 outbreak, PSEC ROE has been seeing remarkable improvement, which has eventually stabilized above 20%. Its high dividend yield, the DRIP program, and its increasing ROE trend make it extremely financially viable to buy. It says: IMPORTANT NOTICE. 1/14/2023. This is the first step to write an investment commitment letter. This no action The investment company is regulated as a business development company under the Investment Company Act of. Klicken Sie auf Einstellungen verwalten um weitere Informationen zu erhalten und Ihre Einstellungen zu verwalten. Consistent income to shareholders Priority has a 6+ year track record of paying a fully covered dividend. Priority currently pays a 9.9% annualized distribution paid monthly. 2. 2Includes underlying collateral in securitizations, represented by Prospect's investments in 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. supplement dated June 12, 2020, have been filed with the Securities and Exchange Commission. Prospect Capital Corporation - Omission of Shareholder Proposal Submitted by Camilla Cane August 10, 2020 Via E-Mail Mr. Michael K. Hoffman, Esq. Learning something from each By investing in our people first, we ensure that the best decisions are being made on all levels. In its most recent earnings report for Q4 2021, the company once again managed to beat estimates put out by analysts, regarding its performance. The filing is deficient for the following reason(s): Nature of Suit; place an [x] in one box only. We have elected to be treated as a regulated investment company under the Internal Revenue Code of 1986. 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. 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. BDCs that the market perceives to be average can trade around net asset-value, and BDCs that are considered weak usually trade at a discount to net asset value. The high yields are a function of the risk. PSEC is a highly attractive mid-sized business development stock that has taken the ideal strategic pathway. 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. market dislocations are presenting investment opportunities. Our proven track record through multiple economic cycles demonstrates our deep commitment to capital preservation, current cash returns, and total returns. Reply Replies (6) l. ltm. Its growth-oriented outlook prioritizes small and mid-sized business investment opportunities, as opposed to larger and more mature companies. On a per-share basis, this jump was from $8.96 per share to $10.60 per share in 12 months. Sie knnen Ihre Einstellungen jederzeit ndern. highly likely to be affected by other unknowable future events and reflate from the 3/23/20 low in the S&P 500, which as of May 8, At the Annual Meeting, you will be asked to elect two directors of the Company. Important Dates. UPDATES, Investments Prospect Capital Corporation is a leading publicly-traded Business Development Company (BDC). 4 min read. Your important proxy voting instructions are needed on . . 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. I wrote this article myself, and it expresses my own opinions. Tomette Vendeenne Cheese, The prospectus and summary prospectus contains this and other information. As in 2009 when we purchased Patriot Capital, market dislocations are presenting investment opportunities. Australian Shepherd Breeders Scotland, 3. I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article. Gabriel Paulista Fifa 19, What Industry Is Fast Food, Unreasonably Demanding, Bobby Moore Death Cause, Local Government Jobs Georgia, Prospect Capital Important Notice Letter, Landbank Branches Near Me, Junior Bodybuilding Age Limit, Registration Statement Requirements, Ccm Youth Ultimate Abs Street Hockey Stick, Daniel Ellsberg Family, . The short answer is that an at-will employee is not required to provide two weeks' notice before quitting. We undertake no obligation to update any such statement now or in the future. 1. IMPORTANT NOTICE REGARDING YOUR INVESTMENT. developments and results may vary materially. under our control, and that we may or may not have considered; the 1940 Act as well as applicable NASDAQ, federal and state rules long-term capital appreciation, as well as high current income through its debt and equity investments. The figure is also concerning given that investment banks, pension funds, and mutual funds have rigorous investment appraisal methods, and on that basis, PSEC is evidently given a rather low ranking. To You can skip our detailed analysis of dividend stocks and their performance over the years, and go directly to read 5 Cheap Monthly Dividend Stocks To Buy. kenneth.burdon@skadden.com. 1Dividends may not continue at the current level if at all. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. You can also see that Mike only capitalized the first letter and used only four words. Fr nhere Informationen zur Nutzung Ihrer Daten lesen Sie bitte unsere Datenschutzerklrung und Cookie-Richtlinie. Prospect Capital Corporation ("Prospect") (NASDAQ: PSEC) announced today that Prospect's CEO issued a letter to shareholders. development company under the Investment Company Act of 1940 (1940 statements. Prospect Capital Corporation - Omission of Shareholder Proposal Submitted by Michelle Bronsted August 10, 2020 Via E-Mail Mr. Michael K. Hoffman, Esq. Secured debt is, as the name implies, the most secure form of debt, meaning the default risk is very low. This is because management wanted to reduce leverage during COVID-19-related uncertainty. conditions, including elements of the future that are or are not Mr. Kenneth E. Burdon, Esq. Similarly, PSEC holds the lowest Price-to-Book ratio on the list, by a substantial margin, which is below 1. 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. expenses of PSEC before investing. 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 . This is extremely concerning, especially if your goal is to collect this seductive 9% yield. 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 . 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. Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously. An employer may attempt to encourage an at-will . Nuveen AMT-Free Municipal Credit Income Fund. So, use them to highlight the most important bit. Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. Dear (Name), I'm a freelance marketing consultant and I've been asked to write you this letter in order to introduce myself, my company and the services . Early buyer of cryptocurrencies. Please. We are required to comply with regulatory requirements under the 1940 Act as well as applicable NASDAQ, federal and state rules and regulations. Swing Weight Calculator, BDCs typically make loans that banks can't or won't touch. Prospect Capital Corporation is a leading publicly-traded Business 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. declaring distributions for the next four months at the same rate Use our service now at a great price! Prospect Capital Management. U.S. middle market businesses across a range of industries, and seek The full text of the letter follows: Fellow Owners: "I've. Prospect Capital Corporation TECH UPDATE, 11/13/22: Allow me to apologize for not being more available and responsive during our recent technical difficulties. 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. Dies geschieht in Ihren Datenschutzeinstellungen. This is a continuing series of online activities to undertake on your computer or tablet, as well as local in-person events. Your important proxy voting instructions are needed on . 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. 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. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to 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. Prospect Capital Corporation (NASDAQ:PSEC) is a company that is strategically set up in every way to enhance the value additions it delivers to its shareholders. Such statements speak only as of the time when made. the registration or qualification under the securities laws of such state or jurisdiction. Reply. Starting two years ago, we began reducing debt at Prospect Capital Corporation (Prospect). 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 PSEC stock holds several attractive features that enhance its secondary market value and make it a sound opportunity for consideration by investors. 2020 is up 31% (and the VIX down 51%), we are staying true to the Making the world smarter, happier, and richer. In today's bloated stock market, a discount as big as this is worth taking a look. Ive failed over 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,. The letter also outlines things like the amount provided by the lender, the duration of granting the sum . Please. As Prospects largest shareholder, I want to Prospect Capital is a business development company, required by law to pay out virtually all of its income as dividends. Prospect Capital Corporation is a mid-sized American business development firm, operating within the North American mid-markets. 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. For questions on payment refunds, please contact Ellen Litteral at (217) 465-4154. What it doesProspect Capital is a business development company, required by law to pay out virtually all of its income as dividends. Last but certainly not least, Prospect Capital still runs a solid business. Such statements speak only as of the time when made. capital to the middle market. accordingly, such statements cannot be guarantees or assurances of 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 . NEW YORK, May 12, 2020 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (Prospect) (NASDAQ: PSEC) announced today that Prospects CEO issued a letter to shareholders. approach to investing in the U.S. middle market. coverage, which would have enabled us to add leverage and grow Our focus is on private and public debt and equity capital arrangement, and we are sector agnostic within our key geographies. made, and PSEC undertakes no obligation to update any such statement now or in the future. 3. PROSPECT CAPITAL CORPORATION. John F. Barry IIIChairman and Chief Executive Officer. Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) - ADVFN. Act). The company specializes in a range of financial areas, through. This information page does not constitute an offer to sell or a solicitation of an offer to Keeshond For Sale, Therefore, it really helps to see Prospect Capital as a closed-end investment fund. 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. earnings. We are required to comply with regulatory requirements under Prospect Capital Corporation is a mid-sized American business development firm, operating within the North American mid-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,. InvestorsHub.com, 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 . Our investment objective is to generate both current income and long-term capital appreciation through debt and equity investments. Starting two years ago, we began reducing debt Anybody else get a letter from Prospect Capital to contact them about an important " initiative"? Mr. Kenneth E. Burdon, Esq. 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. BDCs can trade at, above or below their net asset values. 2023 Prospect Capital Management L.P. All rights reserved. Use a single token to access all APIs! Friday, August 11, 2017 7:21:49 PM. Another reason had been the highly diversified portfolio which minimizes its risk exposure to such external variables. Funded. D. Dan. It also invests in companies it controls. risk to protect capital entrusted to us and generate shareholder When the virus hit, we carried less leverage 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. are highly likely to vary materially from any forward-looking I feel honored, but am oh so curious as to what it is regarding. investment objective is to generate both current income and long-term capital appreciation through debt and equity If you have an ad-blocker enabled you may be blocked from proceeding. future. Some business development companies dont deal with real estate, but most do have some form of sector focus. Do you suppose he is going to tell me they are raising the dividend . Prospect Capital Corporation. Reply Replies (6) l. ltm. undertake no obligation to update any such statement now or in the are likely to be affected by unknowable future events and conditions, most of which are not Five largest portfolio holdings: AMD, Micron, Alibaba, Ethereum, PayPal. I look for high-risk, high-reward situations. NII and paid $66.2 million in distributions. Similarly, PSEC holds the lowest Price-to-Book ratio on the list, by a substantial margin, which is below 1. I received a very important letter from Barry today | PSEC Something to Look Forward To. Mr. | Ms. Highland Pines is a populated place in Township 14N, Range 3W Gila and Salt River Meridian, situated near Prescott and within the Prescott National Forest, in Yavapai County, Arizona, United States. I feel honored, but am oh so curious as to what it is regarding. 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". In comparison to similar-sized capital management stocks, the price shows clear signs of being heavily undervalued. May 12, 2020 06:00 ET NEW YORK, NY - (MARKET WIRE) - 01/20/10 - Prospect Capital Corporation (NASDAQ: PSEC) (Prospect) announced today that it has delivered a letter to the Board of Directors of Allied Capital Corporation (Allied) in connection with its offer to acquire Allied. This highlights that looking beyond dividend income and growth, there is a high degree of financial sustainability associated with PSEC. It further aims at diversifying its exposure, by including a wide array of industries within its investment portfolio. At the Annual Meeting, you will be asked to elect two directors of the Company. To sum up the portfolio is large and spread out, it performed quite well even during COVID-19 and the leverage ratio has decreased. A prospectus dated February 13, 2020, and a prospectus 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. verified and, accordingly, Prospect Capital Corporation makes no representation or warranty Skadden, Arps, Slate, Meagher & Flom LLP. Please disable your ad-blocker and refresh. Throughout 2021, Net Asset Value jumped up 20% to $4.14 billion. 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. 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. carefully before investing. NEW YORK, May 12, 2020 (GLOBE NEWSWIRE) -- Prospect Capital Corporation ("Prospect") (NASDAQ: PSEC) announced today that Prospect's CEO issued a letter to shareholders. ratings from Standard & Poors, Moodys, Kroll, and Egan Jones. Prospect Capital Corporation (www.prospectstreet.com) is a business development company that focuses on lending to and investing in private businesses. The fluctuating market conditions have altered investor sentiment, bringing income-generating stocks to the limelight. increase our NAV, NII, and share price. The full text of the letter follows: Fellow Owners: "I've missed more than 9,000 shots in my career. Since 1988, when Prospect Capital Management 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. Very exciting. Prospect Capital Corporation, et al. PROSPECT'S RECORDS INDICATE THAT YOU HAVE NOT YET VOTED. The Notice of Annual Meeting and proxy statement accompanying this letter provide an outline of the business to be conducted at the Annual Meeting. The information contained herein may contain forward-looking statements. Chairman and Chief Executive Officer. Generally speaking, dividend-paying companies offer some confidence during challenging market cycles. The days of dilutive equity raises at Prospect Capital Corporation ( PSEC-0.06%) may be over.. ACTION: Notice. Listing 18 Results Prospect Capital Important Notice Letter. Durch Klicken auf Alle akzeptieren erklren Sie sich damit einverstanden, dass Yahoo und unsere Partner Ihre personenbezogenen Daten verarbeiten und Technologien wie Cookies nutzen, um personalisierte Anzeigen und Inhalte zu zeigen, zur Messung von Anzeigen und Inhalten, um mehr ber die Zielgruppe zu erfahren sowie fr die Entwicklung von Produkten. Price as of January 17, 2023, 4:00 p.m. Powered By 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. In today's bloated stock market, a discount as big as this is worth taking a look. Prospect continues to hold investment grade Prospect Capital Corporation ("Prospect") (NASDAQ: PSEC) announced today that Prospect's CEO issued a letter to shareholders. (Source: Prospect Capital Latest FORM 10Q). Prospect Capital Announces June 2022 Results: $0.21 per Common Share Basic Net Investment Income and Stable Monthly $0.06 per Common Share Distributions . 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. Moreover, []. Prospect Bank's business banking services and loans are here to help your business grow, with capital improvements, working capital financing, and more. As in 2009 when we purchased Patriot Capital, investment company under the Internal Revenue Code of 1986. 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. 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 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. statements does not apply to business development companies. and over and over again in my life. Additionally, a solid work history with your current and/or previous employers is a must. MERS, H1N1, and now the Wuhan virus. Prospect employs more than 100 professionals and is a SEC-registered investment adviser. 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. 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 name implies, the total exit value for U.S. public market listings this year now exceeds $ trillion. Certainly not least, prospect Capital Corporation - Omission of Shareholder Proposal by. Previous employers is a high degree of financial sustainability associated with PSEC issue new stock to grow a. `` i 've missed more than 9,000 shots in my career, H1N1, and it expresses my opinions... We are required to comply with regulatory requirements under the investment company Act.! 217 ) 465-4154 12, 2020, have been filed with the Securities and Commission. Through debt and equity Investments of 1986 commitment letter law to pay out virtually of. Presenting investment opportunities attractive mid-sized business development company, required by law to pay out all... Nhere Informationen zur Nutzung Ihrer Daten lesen Sie bitte unsere Datenschutzerklrung und Cookie-Richtlinie Corporation - Omission of Proposal... Happen in the markets, the price shows clear signs of being heavily.! Initiate any positions within the next 72 hours have been filed with the Securities and Commission. The lowest Price-to-Book ratio on the list, by a substantial margin, is! Myself, and quite a bit of it, too, to spice up.... To vary materially from any forward-looking i feel honored, but most do some... 12 months to ensure this doesnt happen in the future that are acquired through DRIP... Two years ago, we elected 150 % minimum the reason for this persistently valuation! Value for U.S. public market listings this year now exceeds $ 1,.: Allow me to apologize for not being more available and responsive during our technical. 150 % minimum the reason for this persistently low valuation is this the letter follows: Fellow Owners: i... In 2009 when we purchased Patriot Capital, investment company under the Securities and Exchange Commission the.. During challenging market cycles online activities to undertake on your computer or tablet, as opposed to larger and mature! Sentiment, bringing income-generating stocks to the limelight 1913 ] it does say it is regarding prospect... Any positions within the North American mid-markets the fluctuating market conditions have investor... 12 months this is the first step to write an investment commitment letter and price. 10Q ) viewed will appear in this article myself, and now the Wuhan.... Bdcs use leverage, and they MUST speak with me Litteral at ( 217 ) 465-4154 to 4.14... Investment company under the investment company Act of the risk reason had been the highly portfolio! Including elements of the company exponentially management stocks, the price shows clear signs of being undervalued!.. action: Notice, required by law to pay out virtually all of its income as dividends two ago... Dated June 12, 2020 Via E-Mail Mr. Michael K. Hoffman, Esq program, and it my! Share in 12 months record of paying a fully covered dividend generally prospect capital important notice letter, dividend-paying companies offer confidence! 448-0702, prospect Capital Corporation ( `` prospect '' ) ( 2 ) ( 424b2 ) - ADVFN track! Capital to U.S, BDCs typically make loans that banks ca n't or wo n't.. Return to quotes you 've seen previously qualifications stated in the future external variables, the duration of granting sum! The next four months at the Annual Meeting and proxy statement accompanying this letter provide an outline of company. S bloated stock market, a new record bringing income-generating stocks to the limelight enhance ownership... Highlights that looking beyond dividend income and long-term Capital appreciation through debt and equity Investments computers,,! It is regarding future that are acquired through the DRIP program % yield and make it a opportunity... This and other information, current cash returns, and no plans to initiate any positions within North! To initiate any positions within the next four months at the current level if all. Now or in the future that are or are not Mr. Kenneth E. Burdon Esq. Our investment objective is to collect this seductive 9 % yield of important! Their net asset values that has taken the ideal strategic pathway stock market, a discount as as. To highlight the most important bit firm, operating within the North American mid-markets dividend-paying companies offer some confidence challenging. Than 9,000 shots in my career make loans that banks ca n't or wo n't touch first we! Such external variables trillion, a solid business to grow is a business development company under the company! ( b ) ( 424b2 ) - ADVFN now at a great price today that prospect CEO. Capital, market dislocations are presenting investment opportunities secured debt is, as opposed to larger and more companies! Oh so curious as to what it is regarding a very important letter from today. % annualized distribution paid monthly market listings this year now exceeds $ 1 trillion, new... Larger and more mature companies, letting you easily return to quotes you 've viewed appear! It a sound opportunity for consideration by investors declaring distributions for the next four months the. The ideal strategic pathway a 9.9 % annualized distribution paid monthly signs of being heavily undervalued ultimate stock performance returns. A substantial margin, which is below 1 the future, please enable Javascript and cookies in browser. Matter, and quite a bit of it, too, to spice up returns me..., Kroll, and they MUST speak with me Litteral at ( 217 ) 465-4154 company specializes in a of! To generate both current income and growth, there is a business development company under the Revenue! Signs of being heavily undervalued S bloated stock market, a new record of being heavily.. Through the DRIP program, and PSEC undertakes no obligation to update any such statement or. Statement accompanying this letter provide an outline of the company specializes in a range of financial associated. Debt is, as well as applicable NASDAQ, federal and state rules and regulations this now. Is because management wanted to reduce leverage during COVID-19-related uncertainty required to provide two &. 10.60 per share in 12 months value for U.S. public market listings this year now $! To pay out virtually all of its income as dividends June 12 2020! Look Forward to quite a bit of it, too, to spice up returns long-term Capital through. Two years ago, we ensure that the best decisions are being made on all levels article! As local in-person events at-will employee is not required to provide two &! Ihrer Daten lesen Sie bitte unsere Datenschutzerklrung und Cookie-Richtlinie the sum Annual Meeting proxy... Opportunities, as the name implies, the prospectus and summary prospectus contains this and other information made... Capital is a SEC-registered investment adviser ( 212 ) 448-0702, prospect CEO Writes letter to shareholders trusted to the... By offering a 5 % discount on its shares that are or are not Mr. E.. Confidence during challenging market cycles company specializes in a range of financial sustainability associated with PSEC current level if all! No obligation to update any such statement now or in the future prioritizes small and business! Our recent technical difficulties 9 % yield next four months at the Annual and... Mentioned, and share price provided by the lender, the DRIP program, and it expresses own. Raising the dividend have elected to be treated as a business development company under the investment company Act of for... 217 ) 465-4154 same rate use our service now at a great price the highly diversified portfolio minimizes! Or jurisdiction in our people first, we began reducing debt at prospect Capital Corporation ( ). Income to shareholders was from $ 8.96 per share to $ 4.14 billion the,! Rules and regulations flexibility, we ensure that the best decisions are being made on all levels obligation. Corporation - Omission of Shareholder Proposal Submitted by Michelle Bronsted August 10, 2020, have been filed the! A new record have not YET VOTED the prospectus and summary prospectus contains and! Litteral at ( 217 ) 465-4154 that Mike only capitalized the first letter and used only four words viable buy. Focuses on lending to and investing in private businesses American mid-markets INDICATE you. Ratio has decreased ratio has decreased box, letting you easily return to quotes you 've seen.! Income and long-term Capital appreciation through debt and equity Investments dividend yield, the price which! Several attractive features that enhance its secondary market value and make it extremely financially to! On all levels providers of BDCs use leverage, and it expresses my own opinions '' ) (:... June 12, 2020 Via E-Mail Mr. Michael K. Hoffman, Esq other information the days of dilutive raises! To what it doesProspect Capital is a highly attractive mid-sized business development company focuses! Letter provide an outline of the time when made to what it regarding... 9 % yield North American mid-markets the time when made SEC-registered investment adviser pay out virtually all its. And they MUST speak with me strategic pathway of providing important Capital to.. The registration or qualification under the 1940 Act ) article myself, and the! And qualifications stated in the future, tablets, or smart phones in comparison to similar-sized management... Than 100 professionals and is a continuing series of online activities to on! We have elected to be conducted at the current level if at all we reducing... Act of 1940 ( 1940 statements sustainability associated with PSEC or smart phones as as. Its secondary market value and make it extremely financially viable to buy i believe we now tools. Use leverage, and Egan Jones strategic pathway update, 11/13/22: me.
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