Prospect Capital Corporation Announces Launch of Cash Tender Offer For its 4.95% Senior Convertible Notes due 2022

NEW YORK, Aug. 26, 2021 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (the “Company”) today announced that it has commenced a cash tender offer (the “Tender Offer”) to purchase up to $60,000,000 aggregate principal amount of outstanding 4.95% Senior Convertible Notes due 2022 (the “Notes”). The Tender Offer will expire at 12:00 midnight, New York City time, on September 24, 2021 (one minute after 11:59 p.m., New York City time, on September 23, 2021), or any other date and time to which the Company extends the Tender Offer (such date and time, as it may be extended, 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 Principal Amount		Aggregate Principal Amount Sought
4.95% Senior Convertible Notes due 2022	74348TAR3 / US74348TAR32	$111,055,000		$60,000,000

The consideration to be paid for each $1,000 principal amount of Notes that are validly tendered and not validly withdrawn on or prior to the Expiration Date is $1,025.00, plus accrued and unpaid interest on the Notes, if any, from the last interest payment date up to, but not including, the Settlement Date (as defined herein).

The Company will purchase any Notes 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”). If Notes with an aggregate principal amount in excess of $60,000,000 are validly tendered and not validly withdrawn at or prior to the Expiration Date, proration for each holder tendering Notes will be calculated with a proration factor of such amount so that the Company only accepts for purchase an aggregate principal amount of Notes of $60,000,000. 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.