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Prospect Capital Corporation Adds to Non-Traded Preferred Stock Offering

Businessman holding virtual download icon progress for increasing value added to business product and service concept.

Prospect Capital Corporation (NASDAQ: PSEC), a publicly traded business development company, announced that Prospect has added new 6.50% Series A3 and M3 Preferred Stock to their ongoing offering of up to $1.5 billion of non-traded preferred stock.

Prospect Capital Corporation (NASDAQ: PSEC), a publicly traded business development company, announced that the company has added new 6.50% Series A3 and M3 preferred stock to their ongoing offering of up to $1.5 billion of non-traded preferred stock. The offering has approximately $611 million currently available for sale.

The aggregation of this offering, together with Prospect’s other preferred stock offerings, has exceeded $1.0 billion in aggregate liquidation preference issuances since the initial closing in the quarter ending Dec. 31, 2020.

“Prospect’s non-traded preferred stock offers investors a 6.5% annualized cash dividend paid monthly, a stable stated value, ongoing twice monthly liquidity, management investment alignment, regulatory leverage limitations and approximately $4 billion of junior common equity credit support,” said Grier Eliasek, president of Prospect.

Prospect Capital Corporation focuses on lending to and investing in private businesses.

Preferred Capital Securities LLC is the dealer manager for the ongoing offering of the Series A3 and M3 preferred stock. PCS has raised approximately $3 billion in non-traded preferred stock since its formation in 2011.

For more Preferred Capital Securities news, please visit their directory page.