Prospect Capital Corporation Announces Launch of Cash Tender Offer For its 5.35% Series A Fixed Rate Cumulative Perpetual Preferred Stock

NEW YORK, Oct. 30, 2023 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (the “Company”) today announced that it has commenced a cash tender offer (the “Tender Offer”) to purchase any and all of its 5,882,351 shares of outstanding 5.35% Series A Fixed Rate Cumulative Perpetual Preferred Stock (the “Shares”). The Tender Offer will expire at 5:00 p.m., New York City time, on November 29, 2023 unless extended or earlier terminated by the Company (such date and time, the "Expiration Date"). The Tender Offer is made pursuant to an Offer to Purchase dated today, which sets forth the terms and conditions of the Tender Offer.

Title of Security	CUSIP / ISIN Nos.	Outstanding Share Amount	Outstanding Share Amount Sought	Purchase Price Per Share(1)		Hypothetical Accrued Dividends(2)(3)		Hypothetical Total Consideration(2)(3)
5.35% Series A Fixed Rate Cumulative Perpetual Preferred Stock	74348T 565 / US74348T5653	5,882,351	5,882,351	$15.877396		$0.122604		$16.00

(1) The term “Purchase Price” means the applicable price set forth in the “Purchase Price per Share” column in the table above.

(2) In addition to the Purchase Price, Holders of Shares that are validly tendered and purchased in the Tender Offer will receive accrued dividends, if any, up to, but not including, the Settlement Date (as defined below).

(3) If, as scheduled, the Settlement Date occurs on December 4, 2023, then the total consideration payable for Shares that are validly tendered and purchased in the Tender Offer will equal the applicable “Purchase Price per Share” for such Shares as set forth in the table above, plus, if applicable, the Hypothetical Accrued Dividends for such Shares as set forth in the table above, subject to the Board of Directors of the Company declaring the next dividend on the Shares.

The Company will purchase any Shares that have been validly tendered at or prior to the Expiration Date and accepted for purchase, subject to all conditions to the Tender Offer having been either satisfied or waived by the Company, promptly following the Expiration Date (the date of such acceptance and purchase, the “Settlement Date”). The Settlement Date is expected to occur within three business days following the Expiration Date, assuming the conditions to the Tender Offer have been either satisfied or waived by the Company at or prior to the Expiration Date.