other material
confidence high
sentiment neutral
materiality 0.45
Prospect Capital creates 7.50% Series A5 and M5 Preferred Stock; updates DRIP
PROSPECT CAPITAL CORP
- Created 90M shares each of 7.50% Series A5 and M5 Preferred Stock, reclassifying 180M common shares.
- Amended Dealer Manager Agreement for up to 90M shares of Preferred Stock with $2.25B aggregate liquidation preference.
- Adopted amended Preferred Stock Dividend Reinvestment Plan; reinvestment price $25.00 for new series, $23.75 for others.
- DRIP allows automatic reinvestment of dividends into same-series shares; company pays administration fees.