---
schema_version: "secwatch.filing_event.v1"
accession: "0001521945-24-000020"
form_type: "8-K"
ticker: null
cik: "0001521945"
company_name: "Prospect Floating Rate & Alternative Income Fund, Inc."
filed_at: "2024-02-02T23:59:59+00:00"
generated_at: "2026-06-06T09:53:37.629461+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Prospect Floating Rate Fund increases credit facility to $65M, sells $10M stock to adviser

## Summary
- First Amendment to Senior Secured Revolving Credit Agreement raises commitments from $20M to $65M, with Sumitomo Mitsui Banking Corp. as agent.
- Company sold $10M of Class A common stock to investment adviser Prospect Capital Management L.P. at NAV per share as of January 31, 2024.
- No underwriting discounts or commissions paid; stock issuance exempt from registration under Section 4(a)(2) and Regulation D.
- Amendment also added Bank OZK as Documentation Agent and new lenders to the facility.

## SEC filing metadata
- accession: 0001521945-24-000020
- form_type: 8-K
- cik: 0001521945
- company_name: Prospect Floating Rate & Alternative Income Fund, Inc.
- filed_at: 2024-02-02T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1521945/000152194524000020/0001521945-24-000020-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1521945/000152194524000020/pfloat-20240202.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001521945-24-000020
- JSON: https://secwatch.observer/filing/0001521945-24-000020.json
- Plain text: https://secwatch.observer/filing/0001521945-24-000020.txt

## Key facts
- Debt Financings
  Prospect Floating Rate & Alternative Income Fund, Inc. amended revolving credit of from $20,000,000 to $65,000,000 with Sumitomo Mitsui Banking Corporation.
  - Instrument: revolving credit
  - Principal: from $20,000,000 to $65,000,000
  - Counterparty: Sumitomo Mitsui Banking Corporation
  - Event: amendment
  source text: the First Amendment amends the original Senior Secured Revolving Credit Agreement, dated September 21, 2023, to provide for an increase in the aggregate commitment from $20,000,000 to $65,000,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/1521945/000152194524000020/0001521945-24-000020-index.htm
- Material Agreements
  Prospect Floating Rate & Alternative Income Fund, Inc. amended First Amendment with Sumitomo Mitsui Banking Corporation valued at $65,000,000 (effective 2024-01-30).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Sumitomo Mitsui Banking Corporation
  - Value: $65,000,000
  - Effective: 2024-01-30
  source text: On January 30. 2024, Prospect Floating Rate and Alternative Income Fund, Inc. (the “Company”) entered into the first amendment (the “First Amendment”) to the Senior Secured Revolving Credit Agreement (the “Senior Secured Revolving Credit Agreement”), by and among the Company, as borrower, the lenders party thereto, and Sumitomo Mitsui Banking Corporation, as administrative agent.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1521945/000152194524000020/0001521945-24-000020-index.htm

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