pros497.htm
Filed
Pursuant to Rule 497(a)(1)
File
No. 333-143819
Rule
482ad
Prospect
Capital Corporation Prices Upsized Public Offering of Common
Stock
NEW
YORK, NY – (MARKET WIRE) – June 30, 2009 – Prospect Capital Corporation (NASDAQ:
PSEC) (“Prospect”) announced that it has priced its public offering of 4,500,000
shares of common stock at $9.00 per share, raising $40.5 million in gross
proceeds. The offering was upsized from its announced offering size
of 4,000,000 shares. Prospect has granted the underwriters a 30-day option
to purchase up to an additional 675,000 shares to cover over-allotments, if
any. The offering is subject to customary closing conditions and is
expected to close on July 7, 2009.
Prospect
expects to use the net proceeds of this offering to maintain balance sheet
liquidity, possibly including repayment of a portion of the amounts outstanding
under its credit facility, investments in high quality short-term debt
instruments or a combination thereof, and to make long-term investments in
accordance with its investment objectives. Fox-Pitt Kelton Cochran
Caronia Waller, Oppenheimer & Co., and RBC Capital Markets are joint
bookrunning managers for the offering. BB&T Capital Markets, a
division of Scott & Stringfellow, LLC, is joint lead
manager. Ladenburg Thalmann & Co. Inc. and Maxim Group LLC are
co-managers.
This
press release does not constitute an offer to sell or the solicitation of an
offer to buy nor will there be any sale of the shares referred to in this press
release in any state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to the registration or qualification under the
securities laws of such state or jurisdiction. A copy of the
prospectus for the offering may be obtained from: Fox-Pitt Kelton Cochran
Caronia Waller, 420 Fifth Ave., 5th Floor, New York, NY 10018, Fax: (212)
849-0582, Email: prospectus@fpk.com; Oppenheimer & Co., Attn: Syndicate
Prospectus Department, 300 Madison Ave., 5th Floor, New York, NY 10017, Phone
(212) 667-8563, Fax (212) 667-6141, Email: EquityProspectus@opco.com; and RBC
Capital Markets Corporation, Three World Financial Center, 200 Vesey St., 8th
Floor, New York, NY 10281-8098, Attention: Equity Syndicate, Phone: (212)
428-6670, Fax: (212) 428-6260.
ABOUT
PROSPECT CAPITAL CORPORATION
Prospect
Capital Corporation (www.prospectstreet.com) is a closed-end investment company
that lends to and invests in private and microcap public businesses. Our
investment objective is to generate both current income and long-term capital
appreciation through debt and equity investments.
We
have elected to be treated as a business development company under the
Investment Company Act of 1940 (“1940 Act”). We are required to comply with a
series of regulatory requirements under the 1940 Act as well as applicable
NASDAQ, federal and state rules and regulations. We have elected to be treated
as a regulated investment company under the Internal Revenue Code of 1986.
Failure to comply with any of the laws and regulations that apply to us could
have an adverse effect on us and our shareholders.
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. 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. Actual developments and results
are highly likely to vary materially from these estimates and projections of the
future. Such statements speak only as of the time when made, and we
undertake no obligation to update any such statement now or in the
future.
For
additional information, contact:
Grier
Eliasek, President and Chief Operating Officer
grier@prospectstreet.com
(212)
448-9577