Prospect Capital Corp (PSEC) 10K Annual Reports & 10Q SEC Filings

NEW YORK, August 29, 2023 (GLOBE NEWSWIRE) – Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”, “our”, or “we”) today announced financial results for our fiscal quarter and year ended June 30, 2023.

FINANCIAL RESULTS


All amounts in $000’s except per share amounts (on weighted average basis for period numbers)	Quarter Ended	Quarter Ended	Quarter Ended
	June 30, 2023	March 31, 2023	June 30, 2022

Net Investment Income (“NII”)	$112,779	$102,180	$89,969
Basic NII per Common Share(1)	$0.23	$0.21	$0.21
Interest as % of Total Investment Income	89.1%	92.1%	83.3%
Basic NII Coverage of Distributions to Common Shareholders	128%	117%	117%
Annualized Basic NII Return on Common NAV	10.0%	8.9%	8.0%

Net Income (Loss) Applicable to Common Shareholders	$(13,950)	$(108,947)	$(56,643)
Basic Net Income (Loss) per Common Share(2)	$(0.03)	$(0.27)	$(0.14)

Distributions to Common Shareholders	$72,490	$72,009	$70,672
Distributions per Common Share	$0.18	$0.18	$0.18

Since Oct 2017 Basic NII per Common Share(1)	$4.63	$4.40	$3.75
Since Oct 2017 Distributions per Common Share	$4.14	$3.96	$3.42
Since Oct 2017 Basic NII Less Distributions per Common Share	$0.49	$0.44	$0.33
Since Oct 2017 Basic NII Coverage of Distributions to Common Shareholders	112%	111%	110%

Net Asset Value (“NAV”) to Common Shareholders	$3,732,665	$3,799,294	$4,119,123
NAV per Common Share	$9.24	$9.48	$10.48

Balance Sheet Cash + Undrawn Revolving Credit Facility Commitments	$993,443	$954,187	$695,899

Net of Cash Debt to Equity Ratio(3)	48.8%	47.1%	56.8%
Net of Cash Asset Coverage of Debt Ratio(3)	304%	311%	275%

Unsecured Debt + Preferred Equity as % of Total Debt + Preferred Equity	74.8%	76.7%	75.7%
Unsecured or Non-Recourse Debt as % of Total Debt	100.0%	100.0%	100.0%

The following information was filed by Prospect Capital Corp (PSEC) on Tuesday, August 29, 2023 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Prospect Capital Corp's 10-K Annual Report:

Financial - Income Highlight
During the year ended June 30, 2023, net investment income of $420,929, or $1.06 per basic weighted average common share exceeded distributions from earnings to common and preferred stockholders of $358,394, or $0.89 per basic weighted average common share, resulting in a net increase of $0.17 per basic weighted average common share.

Financial - Dividend Highlight
In the event of a Change of Control Triggering Event (as defined below), we may, at our option, exercise our special optional redemption right to redeem the Series A Preferred Stock, in whole or in part, within 120 days after the first date on which such Change of Control Triggering Event has occurred by paying the liquidation preference, plus an amount equal to all unpaid dividends on such shares (whether or not earned or declared, but excluding interest thereon) accumulated up to, but excluding, the date fixed for such redemption.
Other - Other Highlight
On February 10, 2023, we filed a registration statement on Form N-2 (File No. 333-269714) that was effective upon filing pursuant to Rule 462(e) under the Securities Act, and which replaced our previously effective registration statement on Form N-2 that had been filed on February 13, 2020 and which was also effective upon filing pursuant to Rule 462(e) under the Securities Act.
Revenue - Geography Highlight
On May 19, 2021, we entered into an Underwriting Agreement with UBS Securities LLC, relating to the offer and sale of 187,000 shares, par value $0.001 per share, of 5.50% Series A2 Preferred Stock, with a liquidation preference of $25.00 per share (the "Series A2 Preferred Stock", and together with the Series A1 Preferred Stock, Series M1 Preferred Stock, Series M2 Preferred Stock, Series AA1 Preferred Stock, and Series MM1 Preferred Stock, the "5.50% Preferred Stock").
Legal - Other Highlight
The increase was primarily attributable to an increase in audit, compliance and tax related fees, legal fees, as well as other general and administrative expenses.
Financial - Income
The remaining decline in the...Read more
Financial - Expense
The increase in discount to...Read more
Financial - Expense
These holding companies serve various...Read more
Financial - Expense
The decrease in discount to...Read more
Financial - Shares
In the event that we...Read more
Other - Other
The increase in total gross...Read more
Other - Other
Net Realized Gain from Repurchase...Read more
Other - Other
Change in Unrealized Gains (Losses)...Read more
Financial - Income
The weighted average interest rate...Read more
Financial - Income
The remaining decrease in other...Read more
Financial - Income
The following table describes other...Read more
Financial - Dividend
Each series of 5.50% Preferred...Read more
Financial - Shares
Preferred Stock On August 3,...Read more
Revenue - Product
For flexibility, we maintain a...Read more
Financial - Shares
For the Series A1 Preferred...Read more
Financial - Expense
The fair value of our...Read more
Other - Other
The average interest earned on...Read more
Other - Other
The average interest earned on...Read more
Other - Other
Rule 2a-5 establishes a consistent,...Read more
Financial - Expense
The increase in discount to...Read more
Other - Other
In addition, changes in the...Read more
Financial - Dividend
The Series A Preferred Stock...Read more
Financial - Shares
Pursuant to the Underwriting Agreement,...Read more
Other - Other
The average outstanding individual loan...Read more
Financial - Shares
Based on this methodology and...Read more
Financial - Shares
During the three months ended...Read more
Revenue - Product
The fair value of our...Read more
Revenue - Product
The fair value of our...Read more
Financial - Debt
The registration statement permits us...Read more
Financial - Shares
The increase was partially offset...Read more
Other - Other
If we have provided or...Read more
Financial - Income
The $37,801 decrease in non-recurring...Read more
Revenue - Geography
To the extent that we...Read more
Financial - Dividend
In connection with our Preferred...Read more
Financial - Income
This increase was driven by...Read more
Financial - Shares
We currently have four primary...Read more
Other - Other
We may also redeem the...Read more
Financial - Shares
On October 30, 2020, and...Read more
Other - Other
If we are unable to...Read more
Other - Other
Had Prospect Administration not received...Read more
Financial - Shares
As a result, and in...Read more
Financial - Debt
Historically, we have funded a...Read more
Financial - Expense
The $6,781 increase in the...Read more
Other - Other
On September 30, 2014, we...Read more
Financial - Expense
The fair value of our...Read more
Financial - Expense
The fair value of our...Read more
Financial - Expense
The fair value of our...Read more
Other - Other
Most recently, effective September 15,...Read more
Other - Other
The weighted average stated interest...Read more
Other - Other
As of June 30, 2023...Read more
Financial - Shares
The right of holders to...Read more
Legal - Other
Subject to certain limited exceptions...Read more
Revenue - Product
The manner, price, volume and...Read more
Financial - Debt
Net Realized Gains (Losses) The...Read more
Other - Other
The average outstanding note is...Read more
Other - Other
The difference in the consideration...Read more
Financial - Dividend
The following table describes dividend...Read more
Financial - Shares
Share Repurchase Program During the...Read more
Financial - Dividend
For the Series M Preferred...Read more
Financial - Shares
Some of these equity positions...Read more
Financial - Shares
The decrease was primarily attributable...Read more
Financial - Debt
Our primary uses of funds...Read more
Revenue - Product
If relevant, management and the...Read more
M & A - Other
The following table shows the...Read more
Other - Other
The asset recovery analysis is...Read more
Financial - Shares
In connection with such offering,...Read more
Revenue - Product
The decrease in premium is...Read more
M & A - Other
We generally value over-the-counter securities...Read more
Financial - Shares
Net Asset Value Applicable to...Read more
M & A - Other
Notwithstanding the foregoing, the consummation...Read more
Financial - Shares
In connection with such offering,...Read more
Financial - Shares
In connection with such offering,...Read more
Financial - Shares
With the non-control/non-affiliate investments, generally,...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Prospect Capital Corp provided additional information to their SEC Filing as exhibits

Exhibit 4.1363: Instruments Defining The Rights Of Security Holders, Including Indentures

Exhibit 23.1: Consents Of Experts And Counsel

Exhibit 23.2: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Exhibit 99.1: Additional Exhibits

Exhibit 99.2: Additional Exhibits

Ticker: PSEC
CIK: 1287032
Form Type: 10-K Annual Report
Accession Number: 0001287032-23-000283
Submitted to the SEC: Fri Sep 08 2023 4:13:55 PM EST
Accepted by the SEC: Fri Sep 08 2023
Period: Friday, June 30, 2023
Industry: 1287032