Prospect Capital enters $400M at-the-market preferred stock offering; reclassifies 16M common shares

PROSPECT CAPITAL CORP

Equity distribution agreement with A.G.P./Alliance Global Partners and affiliates to sell up to $400M liquidation preference of 5.35% Series A Fixed Rate Cumulative Perpetual Preferred Stock.
Sales agents will receive commission up to 2.0% of gross sales price; offerings are at-the-market under Rule 415(a)(4).
Company reclassified 16M shares of common stock (par value $0.001) into Series A Preferred, reducing common shares from 1,248,117,104 to 1,232,117,104.
Company is not obligated to sell any shares and may suspend offering at any time depending on market conditions and capital needs.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

PROSPECT CAPITAL CORP: Articles Supplementary filed to reclassify 16,000,000 shares of common stock into Series A Preferred Stock (effective 2026-05-08).

Change: charter amendment
Effective: 2026-05-08

Exact text from the filing

On May 8, 2026, in connection with the Offering, the Company filed Articles Supplementary (the “Articles Supplementary”) with the State Department of Assessments and Taxation of Maryland (“SDAT”), reclassifying and designating 16,000,000 authorized and unissued shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”), into shares of Series A Preferred Stock.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

PROSPECT CAPITAL CORP entered into Equity Distribution Agreement with A.G.P. / Alliance Global Partners valued at $400,000,000 (effective 2026-05-08).

Action: entry
Agreement: atm program
Counterparty: A.G.P. / Alliance Global Partners
Value: $400,000,000
Effective: 2026-05-08

Exact text from the filing

On May 8, 2026, Prospect Capital Corporation (the “Company”) entered into an equity distribution agreement (the “Equity Distribution Agreement”), dated May 8, 2026, with Prospect Capital Management L.P., Prospect Administration LLC and A.G.P. / Alliance Global Partners (together with any additional sales agents that may be added under the Equity Distribution Agreement from time to time, the “Sales Agents”).

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PROSPECT CAPITAL CORP filing history →

Source: SEC EDGAR

accession 0001287032-26-000174

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