Filed
Pursuant to Rule 497(a)(1)
File
No. 333-143819
Rule
482ad
Prospect
Capital Corporation Announces Commencement of Public Offering of 4,000,000
Shares of Common Stock
NEW
YORK, NY – (MARKET WIRE) – June 30, 2009 – Prospect Capital Corporation (NASDAQ:
PSEC, “Prospect”) today announced the commencement of a public offering of
4,000,000 shares of its common stock. Prospect also plans to grant
the underwriters a 30-day option to purchase up to an additional 600,000 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, 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.
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: 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, New York 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. 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:
Grier
Eliasek, President and Chief Operating Officer
grier@prospectstreet.com
(212)
448-9577