ad497.htm
Filed Pursuant to
Rule 497(a)(1)
File No.
333-143819
Rule
482ad
Prospect
Capital Corporation Announces Commencement of Public Offering of 5,000,000
Shares of Common Stock
NEW
YORK, NY--(Marketwire - May 18, 2009) - Prospect Capital Corporation
(NASDAQ: PSEC)
("Prospect") today announced the commencement of a public offering of 5,000,000
shares of its common stock, par value $0.001 per share. Prospect also plans to
grant the underwriters a 30-day option to purchase up to an additional
750,000 shares of its common stock to cover over-allotments, if
any.
Prospect
expects to use the net proceeds of this offering to maintain balance sheet
liquidity, involving repayment of a portion of the amounts outstanding under its
credit facility, make investments in high quality short-term debt instruments or
a combination thereof, and thereafter to make long-term investments in
accordance with its investment objective. Citi and UBS Investment Bank are the
joint bookrunning managers for the offering. BB&T Capital Markets, a
division of Scott & Stringfellow, LLC and RBC Capital Markets are the
co-managers.
The
offering will be made under a shelf registration statement filed under the
Securities Act of 1933, as amended, and previously declared effective by the
Securities and Exchange Commission. The offering of common shares of Prospect is
being made solely by means of a prospectus supplement. 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: Citi, Brooklyn Army Terminal, 140 58th Street, Brooklyn, NY
11220, Attn: Prospectus Department; and UBS Investment Bank, 299 Park Avenue,
New York, NY 10171, Attn: Prospectus Department,
888-827-7275.
Investors
are advised to carefully consider the investment objectives, risks and charges
and expenses of Prospect before investing. The prospectus supplement and
prospectus contain this and other information about Prospect and should be read
carefully before investing.
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:
President
and Chief Operating Officer