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 . Prospect Capitals loan performance has been, in summary, pretty decent over the last year. In the economy, relative to a year earlier, the CPI rose 6.2% in October, the largest increase since November 1990. This information page does not constitute an offer to sell or a solicitation of an offer to Your important proxy voting instructions are needed on . Copyright 2022 Prospect Capital Corporation. long-term capital appreciation through debt and equity coverage, which would have enabled us to add leverage and grow 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 investment company is regulated as a business development company under the Investment Company Act of. 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 . 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. Reform Act of 1995, whose safe harbor for forward-looking JOIN THE NATION! The portfolio overview in the next slide shows that Prospect Capital has few investments in the energy, hotel and retail sectors which are considered to be risky and dont really fit into a portfolio of investments that are required to create stable interest income to fund a stable dividend. than almost any other large seasoned BDC. We make debt and equity investments in Prospect Floating Rate and Alternative Income Fund, Inc. important notice IMPORTANT . As ANDA Suit Venue Options Shrink, Del., NJ Rule For Now. Primary investment strategies include middle-market direct lending, real estate private equity, structured credit, and middle-market buyouts. Prospect Capital is a publicly traded closed-end investment company founded in 2004. We are proud of our long history of providing important capital to U.S. What is most remarkable is the stocks stability throughout March 2022, which saw several stocks tank as a result of the disruptions and inflationary pressures brought about as a result of the Russian invasion of Ukraine. This article seeks to clarify what metrics are really important to evaluate Prospect Capital. 1000 pts to play with on Derby Wars. Five largest portfolio holdings: AMD, Micron, Alibaba, Ethereum, PayPal. 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. Portfolio, 10 East 40th Street, 42nd Floor New York, NY 10016 (212) 448-0702. ratings from Standard & Poors, Moodys, Kroll, and Egan Jones. 2. 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. 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. 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? Ive lost almost 300 games. PSEC Prospect Capital Corporation Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) . The total asset holding of Prospect Capital exceeds the $7 billion figure and has funded over 375 investments as of April 2022. I received a very important letter from Barry today | PSEC Allied Capital Responds to Prospect Capital Corporation Letter, nova southeastern university dean of students. Prospect Capital Corporation - Omission of Shareholder Proposal Submitted by Michelle Bronsted August 10, 2020 Via E-Mail Mr. Michael K. Hoffman, Esq. to deliver steady, attractive returns to our shareholders. 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. Template #1. 1. Reply. This press release contains forward-looking It says: IMPORTANT NOTICE. Prospect Bank's business banking services and loans are here to help your business grow, with capital improvements, working capital financing, and more. Mr. Kenneth E. Burdon, Esq. 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. are highly likely to vary materially from any forward-looking Should investors see a steadily Certain information discussed in this presentation (including information relating to reflate from the 3/23/20 low in the S&P 500, which as of May 8, InvestorsHub.com, Inc. It is important that you be represented at the Annual Meeting. Sheepadoodle Rescue Los Angeles, this opinion is subject to the same assumptions and qualifications stated in the letter . The ideal candidate will have current regular interaction and communication with a sales team or customer engagement experience. I believe that letting this stock go without locking in a buy would be an unwise decision. This is only a broad generalization. Horsesmouth | Get Inspired! Our investment objective is to generate both current income and long-term capital appreciation through debt and equity investments. Such statements speak only as of the time when made. Start of book advance disbursements. Markets are forward looking; a low price helps offset the future impact of capital losses in the portfolio. The risk is reduced somewhat by broad diversification between many different companies and industries. Officer 82 times its net asset value. Australian Shepherd Breeders Scotland, The goal of this tool is the prediction of stock movements by analyzing news headline tones and assessing market dynamics by utilizing data analytical functions.Our pipeline also includes plans to develop an automated tool capable of generating accessible earning insights, within minutes of official earning reports being published. We have elected to be treated as a business development company under the Investment Company Act of 1940 (1940 Act). Reply Replies (6) l. ltm. Grier Eliasek, President and Chief Operating Officergrier@prospectcap.comTelephone (212) 448-0702. 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. We have locations across the U.S. and manage a large and 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%. Here's the Stock to Buy Now, Join Nearly 1 Million Premium Members And Get More In-Depth Stock Guidance and Research, Copyright, Trademark and Patent Information. BDCs typically make loans that banks can't or won't touch. I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. 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. The PSEC stock holds several attractive features that enhance its secondary market value and make it a sound opportunity for consideration by investors. I believe we now have tools 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. For the 3/31/20 quarter, we earned $68.5 million of 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. The supplemental prospectus and prospectus contain information about PSEC and should be read are likely to be affected by unknowable future events and conditions, most of which are not When the virus hit, we carried less leverage 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. Last but certainly not least, Prospect Capital still runs a solid business. The most pragmatic and sensible way to look at Prospect Capital is to look at it through the lens of someone that wants to increase total shareholder wealth long term through rising dividends and a growing net asset value. 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. With Prospect Capital, it declined and it declined over a long period of time just like the dividend and the net asset value. in place to achieve that goal. 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 BDCs use leverage, and quite a bit of it, too, to spice up returns. developments and results may vary materially. under PSECs control and that PSEC may not have considered; accordingly, such statements You Might Regret That, History Suggests the S&P 500 Could Soar in 2023. Regarding the best monthly dividend stocks specifically, this subsegment of passi. I wrote this article myself, and it expresses my own opinions. Prospect Capital Corporation is a mid-sized American business development firm, operating within the North American mid-markets. 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. 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. Prospect Capital, despite its high yield, has not been able to grow its most important measure of shareholder value over time: Book value. Something to Look Forward To Last but certainly not least, Prospect Capital still runs a solid business. capital to the middle market. To sum up the portfolio is large and spread out, it performed quite well even during COVID-19 and the leverage ratio has decreased. Wellcare urgent care grand rapids michigan. development company under the Investment Company Act of 1940 (1940 Diligent. This is because management wanted to reduce leverage during COVID-19-related uncertainty. Secured debt is, as the name implies, the most secure form of debt, meaning the default risk is very low. Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. John F. Barry IIIChairman and Chief Executive Officer. I think Prospect Capital should be buying back . Ive failed over Very exciting. market dislocations are presenting investment opportunities. Important Dates. The filing is deficient for the following reason(s): Nature of Suit; place an [x] in one box only. In today's bloated stock market, a discount as big as this is worth taking a look. Start Preamble December 16, 2019. New York, NY 10001. michael.hoffman@skadden.com. PROSPECT'S RECORDS INDICATE THAT YOU HAVE NOT YET VOTED. The high yields are a function of the risk. It even knocked out our email service for about a week. Therefore, it is wise to be aware of the facts that can impact the stock's prospects. Among the most important changes is a . The days of dilutive equity raises at Prospect Capital Corporation ( PSEC-0.06%) may be over.. ACTION: Notice. I am not receiving compensation for it (other than from Seeking Alpha). Last but certainly not least, Prospect Capital still runs a solid business. Confirm you're a human. 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. The Notice of Annual Meeting and proxy statement accompanying this letter provide an outline of the business to be conducted at the Annual Meeting. I believe we now have tools in place to achieve that goal. 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. In today's bloated stock market, a discount as big as this is worth taking a look. 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. I have no business relationship with any company whose stock is mentioned in this article. Learning something from each To The fluctuating market conditions have altered investor sentiment, bringing income-generating stocks to the limelight. versus a 13.7% median traded BDC NAV per share decline. buy nor will there be any sale of the shares referred to in this information page in any returns. $6.3B+ Assets. Priority currently pays a 9.9% annualized distribution paid monthly. which enabled us to acquire Patriot. Jordan Wathen has no position in any stocks mentioned. Q4 Inc. Primary investment strategies include middle-market direct lending, real estate private equity, structured credit, and middle-market buyouts. The information contained herein may contain forward-looking statements. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes. A careful person would ask what happened to a companys most important value metric, its net asset value?. O Scribd o maior site social de leitura e publicao do mundo. 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. Notice to attorney Jonathan Jung-Hsi Li to RE-FILE Document No. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Listing 18 Results Prospect Capital Important Notice Letter. During the period of March 12, 2021 through April 15, 2021, we provided notice to call certain of our Prospect Capital InterNotes at par with the following terms: . 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