---
schema_version: "secwatch.filing_event.v1"
accession: "0001287032-23-000432"
form_type: "8-K"
ticker: "PSEC"
cik: "0001287032"
company_name: "PROSPECT CAPITAL CORP"
filed_at: "2023-12-29T23:59:59+00:00"
generated_at: "2026-06-07T05:46:05.923983+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Prospect Capital reclassifies 160M common shares into new preferred series; adopts DRIP

## Summary
- Authorized 80M Series A4 and 80M Series M4 preferred shares via reclassification from common stock.
- Common shares reduced from 1.552B to 1.352B; additional 8M each added to five existing preferred series.
- Amended Dealer Manager Agreement to offer up to 80M preferred shares with $2B aggregate liquidation preference.
- New DRIP effective Dec 29, 2023: dividends reinvested at $25.00 (Floating Rate A4/M4) or $23.75 (other series).
- Company pays all DRIP fees; shares come from authorized but unissued preferred stock.

## SEC filing metadata
- accession: 0001287032-23-000432
- form_type: 8-K
- ticker: PSEC
- cik: 0001287032
- company_name: PROSPECT CAPITAL CORP
- filed_at: 2023-12-29T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 3.03, 5.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1287032/000128703223000432/0001287032-23-000432-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1287032/000128703223000432/psec-20231229.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001287032-23-000432
- JSON: https://secwatch.observer/filing/0001287032-23-000432.json
- Plain text: https://secwatch.observer/filing/0001287032-23-000432.txt

## Key facts
- Governance Changes
  PROSPECT CAPITAL CORP: Filed two Articles Supplementary reclassifying shares of Common Stock into Preferred Stock series (effective 2023-12-28).
  - Change: charter amendment
  - Effective: 2023-12-28
  source text: On December 28, 2023, the Company filed two Articles Supplementary (the “Articles Supplementary”) with the State Department of Assessments and Taxation of Maryland (“SDAT”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1287032/000128703223000432/0001287032-23-000432-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.