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:   2026-03-06T23:59:59+00:00
Accession:  0001521945-26-000031
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.03, 5.07, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Prospect Floating Rate & Alternative Income Fund adopts governance changes and fee reduction until exchange listing
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- Stockholders approved Fifth Articles of Amendment and Restatement, increasing quorum to 50% and dividing common stock into four classes.
- Bylaws amended to require majority vote for director elections and for amendments affecting stockholder rights.
- Investment advisory agreement amended: management fee reduced to 1.20% of total assets until one year after exchange listing, then 1.75% with incentive fee.
- Administration agreement also amended to conform to NASAA Omnibus Guidelines; all changes effective March 4, 2026.
- Fee reduction provides incentive for future listing of common stock on a national securities exchange.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1521945/000152194526000031/0001521945-26-000031-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1521945/000152194526000031/pfloat-20260306.htm
  HTML page:      https://secwatch.observer/filing/0001521945-26-000031

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