secwatch.observer — SEC 8-K summary
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Issuer:     Prospect Floating Rate & Alternative Income Fund, Inc. (—)
CIK:        0001521945
Form:       8-K
Filed at:   2024-02-02T23:59:59+00:00
Accession:  0001521945-24-000020
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1521945/000152194524000020/0001521945-24-000020-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1521945/000152194524000020/pfloat-20240202.htm
  HTML page:      https://secwatch.observer/filing/0001521945-24-000020

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