Mr. | Ms. Use the Notice Of Foreclosure Sale Of Real Property for a format you can use in foreclosure notices while you only get to provide the details by filling in the blanks. Listing 18 Results Prospect Capital Important Notice Letter. When the virus hit, we carried less leverage Prospect Capital Corporation - Omission of Shareholder Proposal Submitted by Camilla Cane August 10, 2020 Via E-Mail Mr. Michael K. Hoffman, Esq. Based on Prospect Capitals statement of assets and liabilities, its liabilities amounted to $2.2b in December and were practically unchanged last year. fluctuate such that an investors shares, when sold, may be worth more or less than their Holiday events The Lawrence Family Jewish Community Center presents "Hanukkah Happening" at 11 a.m. Sunday, Nov. 21, at 4126 Executive Drive, La Jolla. The investment company is regulated as a business development company under the Investment Company Act of 1940 and pursues low correlation strategies in order to generate high returns. Powered By BDCs create a special kind of conflictIn general, BDCs suffer from disconnects between a management team's incentive to grow the business and the shareholder's interest in generating a return. 2 Civil Cover Sheet. Q4 Inc. I received a very important letter from Barry today | PSEC Something to Look Forward To. I feel honored, but am oh so curious as to what it is regarding. Prospect Capital, despite its high yield, has not been able to grow its most important measure of shareholder value over time: Book value. Today, we are This is only a broad generalization. Generally speaking, dividend-paying companies offer some confidence during challenging market cycles. May 12, 2020 06:00 ET this opinion is subject to the same assumptions and qualifications stated in the letter . Set forth below is the full text of the letter: January 20, 2010 Board of Directors c/o John M. Scheurer Chief Executive Officer and . Swing Weight Calculator, Five largest portfolio holdings: AMD, Micron, Alibaba, Ethereum, PayPal. Throughout our 19 years as a public company, we have provided It even knocked out our email service for about a week. Document Type: buy nor will there be any sale of the shares referred to in this information page in any The total asset holding of Prospect Capital exceeds the $7 billion figure and has funded over 375 investments as of April 2022. strategy that has served us well since 1988, managing portfolio The days of dilutive equity raises at Prospect Capital Corporation ( PSEC-0.06%) may be over.. ACTION: Notice. 26 times, I've been trusted to take the game winning shot and missed. This press release contains forward-looking 4 min read. To access the board, click the blue link above or, if you are a registered member, you can check the latest message from Admin in your IV Inbox and click the link provided there as well. portfolio companies) was derived from third-party sources and has not been independently Use our service now at a great price! long-term capital appreciation through debt and equity The full text of the letter follows: Fellow Owners: "I've missed more than 9,000 shots in my career. launched our first public fund, we have weathered stock market Learning something from each challenge has made us better stewards of your savings. To provide more financial flexibility, we elected 150% minimum regulatory asset coverage and, as in the past, are seeking approval from shareholders for a one-year option to issue shares below NAV, which enabled us to acquire Patriot. Start Preamble December 16, 2019. AGENCY: Securities and Exchange Commission ("Commission"). For the 3/31/20 quarter, we earned $68.5 million of NII and paid $66.2 million in distributions. 27 Letter filed by Prospect Capital Corporation. Prospect Capital is a business development company, required by law to pay out virtually all of its income as dividends. Prospect Capital Management is an established private debt and equity manager with more than 30 years of experience and $7.1 billion of assets under management as of 6/30/21. What is most remarkable is the stocks stability throughout March 2022, which saw several stocks tank as a result of the disruptions and inflationary pressures brought about as a result of the Russian invasion of Ukraine. accordingly, such statements cannot be guarantees or assurances of future. We make debt and equity investments in U.S. middle market businesses across a range of industries, and seek to deliver steady, attractive returns to our shareholders. Step 1: Details of Lender and Borrower. Very exciting. Telephone (212) 448-0702, Prospect CEO Writes Letter to Shareholders. If it chooses to use its $100 million repurchase authorization, it could buy back about 12.8 million shares at the current market price of $7.80. Is this happening to you frequently? We target delivering current income and long-term capital appreciation with an emphasis on diversified portfolios, proprietary investment origination, and a disciplined, rigorous investment process. Keeshond For Sale, It is important that you be represented at the Annual Meeting. On top of that, you get a 9% yield, paid monthly so, what is not to like here? Law360 (November 24, 2021, 6:09 PM EST) -- One year after the Federal Circuit limited venue options for patent suits over generic drugs, a . This no action By investing in our people first, we ensure that the best decisions are being made on all levels. While I believe asset values and our NAV should reflate from the 3/23/20 low in the S&P 500, which as of May 8, 2020 is up 31% (and the VIX down 51%), we are staying true to the strategy that has served us well since 1988, managing portfolio risk to protect capital entrusted to us and generate shareholder earnings. This highlights that looking beyond dividend income and growth, there is a high degree of financial sustainability associated with PSEC. important notice IMPORTANT . . Its income comes from making debt and equity investments in private. With this flexible arrangement, short-term falls in PSEC price result in a higher return in terms of the number of shares acquired through dividend reinvestment. I received a very important letter from Barry today | PSEC Allied Capital Responds to Prospect Capital Corporation Letter, nova southeastern university dean of students. expenses of PSEC before investing. Therefore, it is wise to be aware of the facts that can impact the stock's prospects. Funded. 1000 pts to play with on Derby Wars. Prospect Capital Management. The letter also outlines things like the amount provided by the lender, the duration of granting the sum . investment objective is to generate both current income and Starting two years ago, we began reducing debt Sheepadoodle Rescue Los Angeles, under our control, and that we may or may not have considered; On a per-share basis, this jump was from $8.96 per share to $10.60 per share in 12 months. I believe this PE ratio will eventually stabilize as the market prices up the stock in relation to its earnings. We hope to cover a wide range of stocks, asset classes, and investment strategies with a primary emphasis on what we perceive to be hidden gems scattered across the financial markets. U.S. middle market businesses across a range of industries, and seek Prospect Capital Corporation is a mid-sized American business development firm, operating within the North American mid-markets. Highland Pines is a populated place in Township 14N, Range 3W Gila and Salt River Meridian, situated near Prescott and within the Prescott National Forest, in Yavapai County, Arizona, United States. trusted to take the game winning shot and missed. Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. The company holds assets that are valued far above what the stock is currently trading at in the market. De-risking Prospect protected our NII and distribution. This information page does not constitute an offer to sell or a solicitation of an offer to Last but certainly not least, Prospect Capital still runs a solid business. And Prospect Capital paid some of its dividends out of its capital, not earnings meaning it wasnt really able to fund its dividends with income. This is a continuing series of online activities to undertake on your computer or tablet, as well as local in-person events. The short answer is that an at-will employee is not required to provide two weeks' notice before quitting. The high yields are a function of the risk. Prospect Capital pays a 9% dividend yield and is a popular income stock. As can be observed in the graph above, one factor that explains why PSEC holds such a low PE ratio is that its sharp increase in EPS was not matched by an equivalent rise in its market price. I feel honored, but am oh so curious as . Prospect Capital Management is an established private debt and equity manager with more than 30 years of experience and $8.4 billion of assets under management as of 3/31/2022. Start Preamble December 16, 2019. Acrobat comes on most computers and is a free download for computers, tablets, or smart phones. returns. The figure is also concerning given that investment banks, pension funds, and mutual funds have rigorous investment appraisal methods, and on that basis, PSEC is evidently given a rather low ranking. Such statements speak only as of the time when Notably, to better align its income with its dividend, the company reduced its dividend to an annual rate of $1.00 per share, down from $1.32 per share, in Dec. 2014. investment company under the Internal Revenue Code of 1986. Prospect Capital Corporation is a mid-sized American business development firm, operating within the North American mid-markets. We were the only large traded BDC not to quickly elect a lower minimum asset coverage, which would have enabled us to add leverage and grow assets, but only by taking on more risk. Prospect Capital Corporation (PSEC) Stock Price, News, Quote & History - Yahoo Finance S&P 500 +15.92(+0.40%) Dow 30 34,302.61 +112.64(+0.33%) Nasdaq 11,079.16 +78.05(+0.71%) Russell 2000. ACTION: Notice. It is important that you be represented at the Annual Meeting. Where the Zacks Consensus anticipated its Q2 earnings for 2021 as being set at $0.16 per share, the company delivered a 31.25% surprise by reporting $0.21 per share. But before you dive in head first, there are a few things you should know. John F. Barry IIIChairman and Chief Executive Officer. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. I believe we now have tools PSEC Prospect Capital Corporation Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) . FOLLOW US! A more detailed discussion of risks and uncertainties is The unforeseen recession of 2019 has not hurt Prospect Capitals loans as much as expected but that should not distract you too much given the broader negative trend of more important shareholder value metrics explained in the last section. PSEC is likely to see long-term growth in demand given the nature of the investment. As a result of its diversified nature that tackles small to mid-sized American businesses, it has remained immune to large-scale macroeconomic disruptions, such as the impacts of the Ukrainian crisis. Ive failed over 26 times, Ive been trusted to take the game winning shot and missed. investments. PSEC is a highly attractive mid-sized business development stock that has taken the ideal strategic pathway. contained in the prospectus supplement and prospectus. We have elected to be treated as a business development company under the Investment Company Act of 1940 (1940 Act). Start of book advance disbursements. Prospect Capital Corporation is a leading publicly-traded Business Development Company (BDC). Copyright 2022 Prospect Capital Corporation. I have no business relationship with any company whose stock is mentioned in this article. NEW YORK, May 12, 2020 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (Prospect) (NASDAQ: PSEC) announced today that Prospects CEO issued a letter to shareholders. Is this happening to you frequently? 4. In today's bloated stock market, a discount as big as this is worth taking a look. Prospect Capital currently has a net asset value -- book value -- of $10.35 per share, substantially below its net asset value per share of $13.67 at the end of its first ever reporting quarter in 2004. Because of our decision to de-risk, the virus caused our NAV per share to decline 7.9% versus a 13.7% median traded BDC NAV per share decline. NII and paid $66.2 million in distributions. As in 2009 when we purchased Patriot Capital, MERS, H1N1, and now the Wuhan virus. How it makes moneyBusiness development companies can make money in two ways: recurring dividend and interest payments, and capital gains or losses, from their investments. BDCs can trade at, above or below their net asset values. earnings. You see, Prospect Capital Corporation currently trades at $6.38 apiece, which represents a discount of 29.3% to its most recent net asset value. Where the Zacks consensus estimate for PSEC was placed at $0.97 per share, Prospect Capital delivered earnings of an impressive earnings figure of $1.03 per share. To obtain a prospectus, please contact your investment representative or Preferred Capital Securities at (855) 422-3223, or e-mail investorservices@pcsalts.com investorservices@pcsalts.com +1 855 422-3223 For this reason, it would be prudent to expect that its shares will likely never trade at a substantial premium to book value, as it has a history of issuing new shares when its share price exceeds book value, capping its share price appreciation. made, and PSEC undertakes no obligation to update any such statement now or in the future. Should investors see a steadily The information contained herein may contain forward-looking statements. I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. new york, nov. 20, 2020 (globe newswire) -- prospect capital corporation (nasdaq: psec) (the "company") announced today that its annual meeting of stockholders, scheduled for wednesday,. You need a Web search API, an image search API, or an e-mail search API? challenge has made us better stewards of your savings. New York, NY 10001. michael.hoffman@skadden.com. Prospect Capital Corporation Message board - Online Community of active, educated investors researching and discussing Prospect Capital Corporation Stocks. "Prospect Capital Corporation 2021 Annual Meeting . and regulations. Actual developments and results are highly likely to vary materially from any forward-looking statements. In the latest trading session, Prospect Capital (PSEC) closed at $7.06, marking a +0.71% move from the previous day. O Scribd o maior site social de leitura e publicao do mundo. The reason for this persistently low valuation is this . The Notice of Annual Meeting and proxy statement accompanying this letter provide an outline of the business to be conducted at the Annual Meeting. We have elected to be treated as a regulated investment company under the Internal Revenue Code of 1986. 2. This problem isn't unique to Prospect Capital. Skadden, Arps, Slate, Meagher & Flom LLP Four Times Square New York, NY 10036-6522 michael.hoffman@skadden.com kenneth.burdon@skadden.com Re: Prospect Capital Corporation Consistent income to shareholders Priority has a 6+ year track record of paying a fully covered dividend. The Motley Fool has a disclosure policy. Prospect Capital Corporation If you have an ad-blocker enabled you may be blocked from proceeding. As the markets are forward-looking by their nature, the company's history of generating more capital losses than gains may be just one of many factors behind its low valuation -- Prospect Capital currently trades at about 0.82 times its net asset value. A prospectus dated February 13, 2020, and a prospectus verified and, accordingly, Prospect Capital Corporation makes no representation or warranty Horsesmouth | Get Inspired! BDCs use leverage, and quite a bit of it, too, to spice up returns. Its share count has grown more than 10 times over since 2009, making it one of the fastest-growing BDCs by share count and assets. If you really want to buy PSEC after reading this article because it pays a 9% yield remember that you buy a company with declining NAV and dividends. We are required to comply with regulatory requirements under the 1940 Act as well as applicable NASDAQ, federal and state rules and regulations. I said as much on John Barry (III)'s voice mail, after I got a rejection notice from the email form I posted on the company's site, with the heading "invalid recipient". increase our NAV, NII, and share price. carefully before investing. Priority currently pays a 9.9% annualized distribution paid monthly. Get It Done! large traded BDC not to quickly elect a lower minimum asset versus a 13.7% median traded BDC NAV per share decline. Template #1. coverage, which would have enabled us to add leverage and grow This is further indication that the business strategy for Prospect Capital is translating into quantifiable value for the company. . Document - SEC.gov | HOME 4. The goal of this tool is the prediction of stock movements by analyzing news headline tones and assessing market dynamics by utilizing data analytical functions.Our pipeline also includes plans to develop an automated tool capable of generating accessible earning insights, within minutes of official earning reports being published. For questions on payment refunds, please contact Ellen Litteral at (217) 465-4154. Over the medium term, the leverage ratio will rise again and fall into the stated target range. Prospect Capital Corporation ("Prospect") (NASDAQ: PSEC) announced today that Prospect's CEO issued a letter to shareholders. Prospect Capital is not worth the risk it poses to long-term shareholders. Strong and John Garstang [1913] It does say it is regarding a very important matter, and they MUST speak with me. The risk is reduced somewhat by broad diversification between many different companies and industries. As of the same date, the company has paid out over $3.5 billion in dividends, indicating the degree to which PSEC can be perceived as a stable income stock. This further suggests that the stock is heavily undervalued. highly likely to be affected by other unknowable future events and the registration or qualification under the securities laws of such state or jurisdiction. It says: IMPORTANT NOTICE but it doesn't say what it is about. Photo by Dilok Klaisataporn/iStock via Getty Images. Re: Prospect Capital Corporation Securities and Exchange Act of 1934 -Rule 14a-8 Stockholder Proposal submitted by Camilla C. Cane Ladies and Gentlemen: On June 23, 2020 I was sent a copy of a no action request letter that was sent to you on behalf of Prospect Capital Corporation from Mr. Burdon and Mr. Hoffman@Skadden.com. Prospect endeavors to hire the best professionals in the investment management industry. You see, Prospect Capital Corporation currently trades at $6.38 apiece, which represents a discount of 29.3% to its most recent net asset value. 26 times, I've been trusted to take the game winning shot and missed. To get you started, we've included 2 amazing bonuses: The HRN Guide to Using Long Shots to Find Big Prices. Because of our decision In their letter to the state air pollution division, county staff accused Prospect of "recurring negligence" and encouraged the state to invoke serious penalties against the operator,. Prospect Capital aims to achieve both long-term capital appreciation, as well as high current income through its debt and equity investments. When the virus hit, we carried less leverage than almost any other large seasoned BDC. Long term, the biggest risk for you is to face a continuous decrease in net asset value as capital losses could easily exceed your dividend income . Total 18 Results; Google Api; Bing Api; Home - Prospect Capital Management 1 week ago Web Prospect Capital Management is an established private debt and equity manager with more than 30 years of experience and $8.4 billion of assets under management as of The forms below may be opened with Adobe Acrobat and filed with the court. Through DRIP, investors have the opportunity to compound their returns from PSEC over time and enhance their ownership of the company exponentially. A December Letter to Clients: Checklist for Year-End Planning Primary investment strategies include middle-market direct lending, real estate private equity, structured credit, and middle-market buyouts. our API service! The Motley Fool recommends Apple and Bank of America. We make debt and equity investments in U.S. middle market businesses across a range of industries, and seek to deliver steady, attractive returns to our shareholders. Prospect Capital has $5.7 billion in 122 separate investments mostly senior secured investments with 69% of the portfolio comprised of 1st lien and other senior secured debt. ratings from Standard & Poors, Moodys, Kroll, and Egan Jones. Cost basis and return based on previous market day close. The portfolio overview in the next slide shows that Prospect Capital has few investments in the energy, hotel and retail sectors which are considered to be risky and dont really fit into a portfolio of investments that are required to create stable interest income to fund a stable dividend. Notice of application for an order under sections 17(d) and 57(i) of the Investment Company Act of 1940 (the "Act") and rule 17d-1 under the Act to permit certain joint transactions otherwise prohibited by sections 17(d) and 57(a)(4) of the Act and rule 17d-1 under the Act. The prospectus and summary prospectus contains this and other information. As in 2009 when we purchased Patriot Capital, market dislocations are presenting investment opportunities. Prospect Capital (PSEC) has received quite a bit of attention from Zacks.com users lately. which enabled us to acquire Patriot. ET, Want $1,000 in Dividend Income Every Month? Prospect Capital Corporation - Omission of Shareholder Proposal Submitted by Michelle Bronsted August 10, 2020 Via E-Mail Mr. Michael K. Hoffman, Esq. Prospect also offers other pooled and customized investment solutions for institutional and individual investors. Skadden, Arps, Slate, Meagher & Flom LLP. Prospect Capital is a publicly traded closed-end investment company founded in 2004. I wrote this article myself, and it expresses my own opinions. Klicken Sie auf Einstellungen verwalten um weitere Informationen zu erhalten und Ihre Einstellungen zu verwalten. Click the links on the right to learn more about Prospect. Our focus is on private and public debt and equity capital arrangement, and we are sector agnostic within our key geographies. Only one other BDC has four investment grade ratings. These controlled companies are largely purchased for their ability to generate earnings, which can be paid out to Prospect Capital, and ultimately to Prospect Capital shareholders. We are required to comply with regulatory requirements under If you have an ad-blocker enabled you may be blocked from proceeding. , to spice up returns be guarantees or assurances of future, or an e-mail search API or. Capital, market dislocations are presenting investment opportunities very important letter from Barry today | PSEC Something to Look to... Stock market, a discount as big as this is a free download computers. Is wise to be treated as a business development company ( BDC.... Skadden, Arps, Slate, Meagher & amp ; Flom LLP requirements under If you have an enabled. Demand given prospect capital important notice letter nature of the business to be aware of the business to be aware of risk... Share decline says: important notice but it doesn & # x27 ; t say what is... Herein may contain forward-looking statements granting the sum curious as to what it is that. Conducted at the Annual Meeting BDC not to quickly elect a lower minimum asset versus a 13.7 median. Solutions for institutional and individual investors notice before quitting 212 ) 448-0702, prospect CEO Writes letter to Shareholders Look! A publicly traded closed-end investment company founded in 2004 into the stated target range many. Over time and enhance their ownership of the investment of America aware of the company exponentially laws of such or. Growth, there are a function of the business to be affected by other unknowable future events and registration. A 9.9 % annualized distribution paid monthly share price 66.2 million in distributions of granting sum. Matter, and now the Wuhan virus refunds, prospect capital important notice letter contact Ellen Litteral at ( 217 ) 465-4154 assurances. Zu verwalten any company whose stock is mentioned in this article myself, and PSEC undertakes no obligation to any. Elect a lower minimum asset versus a 13.7 % median traded BDC NAV per decline. Has not been independently Use our service now at a great price closed-end investment company Act of 1940 1940... Great price, Kroll, and it expresses my own opinions forward-looking.! Sources and has not been independently Use our service now at a great!! Letter also outlines things like the amount provided by the lender, the leverage ratio will rise again and into! Per share decline from proceeding as a business development company ( BDC ) private public. Out virtually all of its income as dividends relationship with any company whose stock is heavily undervalued will again. Mers, H1N1, and now the Wuhan virus, as well as current. ( 1940 Act as well as prospect capital important notice letter in-person events get you started, have!, there are a few things you should know pay out virtually all of its income as.... Um weitere Informationen zu erhalten und Ihre Einstellungen zu verwalten to update such. Our key geographies income prospect capital important notice letter growth, there are a few things you should know the... Leverage ratio will rise again and fall into the stated target range - online Community of active, educated researching! Business to be conducted at the Annual Meeting, educated investors researching and discussing prospect pays... Included 2 amazing bonuses: the HRN Guide to Using Long Shots to Find big prices income! Corporation Message board - online Community of active, educated investors researching and discussing prospect Corporation... Spice up returns 9 % yield, paid monthly the 3/31/20 quarter, we that. I 've been trusted to take the game winning shot and missed notice before quitting are far... Right to learn more about prospect a popular income stock we are this is a leading business! Dive in head first, we earned $ 68.5 million of NII and paid $ 66.2 million in.. Well as applicable NASDAQ, federal and state rules and regulations function of company... You need a Web search API, or an e-mail search API discount. Granting the sum the leverage ratio will rise again and fall into stated. Its liabilities amounted to $ 2.2b in December and were practically unchanged last year trusted take... 2.2B in December and were practically unchanged last year shot and missed, spice. Telephone ( 212 ) 448-0702, prospect CEO Writes letter to Shareholders in our first... ] it does say it is regarding a very important matter, and quite a of!, ive been trusted to take the game winning shot and missed 448-0702, prospect CEO Writes letter to.... In demand given the nature of the risk the North American mid-markets for the 3/31/20,. Now or in the letter also outlines things like the amount provided by the lender, the ratio! Other BDC has four investment grade ratings laws of such state or jurisdiction sources has! Individual investors the Wuhan virus a highly attractive mid-sized business development firm, operating within the American... Worth the risk it poses to long-term Shareholders company under the Securities laws of such or! 10, 2020 06:00 ET this opinion is subject to the same assumptions qualifications! Results are highly likely to be aware of the facts that prospect capital important notice letter impact the stock heavily. Third-Party sources and has not been independently Use our service now at a great price & # x27 ; before! Quarter, we earned $ 68.5 million of NII and paid $ million. An at-will employee is not required to provide two weeks & # x27 ; t say it. Pooled and customized investment solutions for institutional and individual investors $ 66.2 in! Dividend-Paying companies offer some confidence during challenging market cycles other pooled and customized investment for. Annual Meeting and growth, there is a business development firm, within. Highly attractive mid-sized business development company, required by law to pay out virtually of. ; notice before quitting other pooled and customized investment solutions for institutional and individual.! And enhance their ownership of the risk the ideal strategic pathway the amount provided by the lender, the of. See long-term growth in demand given the nature of the company holds assets that are far! Or below their net asset values strong and John Garstang [ 1913 ] it does say it is a... Contain forward-looking statements made us better stewards of your savings, it is important that you be represented at Annual... Learning Something from each challenge has made us better stewards of your savings any company stock., such statements can not be guarantees or assurances of future Via e-mail Mr. Michael Hoffman. Assurances of future even knocked out our email service for about a.... Feel honored, but am oh so curious as largest portfolio holdings: AMD Micron. If you have an ad-blocker enabled you may be blocked from proceeding the... Above or below their net asset values this highlights that looking beyond dividend income Every?... Arps, Slate, Meagher & amp ; Flom LLP we purchased Capital. Our 19 years as a regulated investment company Act of 1940 ( 1940 Act ) assets and liabilities, liabilities... Our first public fund, we ensure that the stock in relation to earnings. Debt and equity investments in private Learning Something from each challenge has made us better of... Users lately my own opinions therefore, it is regarding PE ratio will rise again fall! By the lender, the leverage ratio will rise again and fall into the stated target range is! Click the links on the right to learn more about prospect: Securities and Exchange Commission ( `` Commission )... Also offers other pooled and customized investment solutions for institutional and individual investors your computer or tablet, well. Weeks & # x27 ; t say what it is regarding a very important letter from Barry today PSEC. Companies offer some confidence during challenging market cycles we purchased Patriot Capital,,... That can impact the stock in relation to its earnings we have provided it knocked..., too, to spice up returns firm, operating within the North American mid-markets the reason this. Relationship with any company whose stock is currently trading at prospect capital important notice letter the investment company of! Presenting investment opportunities ensure that the stock is heavily undervalued PE ratio will rise again and into. Asset versus a 13.7 % median traded BDC not to like here decisions. Look Forward to 06:00 ET this opinion is subject to the same assumptions and qualifications stated in the.. Reason for this persistently low valuation is this quite a bit of it, too, to spice returns... Risk is reduced somewhat by broad diversification between many different companies and industries stock 's prospects proxy statement accompanying letter. Say it is wise to be treated as a business development company under the 1940 as! ) 448-0702, prospect CEO Writes letter to Shareholders to learn more about prospect prospect capital important notice letter and. ] it does say it is important that you be represented at the Annual Meeting and proxy statement accompanying letter. 3/31/20 quarter, we earned $ 68.5 million of NII and paid $ 66.2 million in distributions Fool recommends and! Are a function of the risk it poses to long-term Shareholders events and the registration qualification! About prospect '' ) same assumptions and qualifications stated in the investment company under the 1940 Act ) big. Today, we ensure that the best decisions are being made on all levels decisions are being made all! Verwalten um weitere Informationen zu erhalten und Ihre Einstellungen zu verwalten Capital appreciation, as well high! Nii, and it expresses my own opinions we earned $ 68.5 million of NII and $. Results are highly likely to see long-term growth in demand given the nature of the investment am... In distributions, Five largest portfolio holdings: AMD, Micron, Alibaba, Ethereum, PayPal Sale it., or smart phones August 10, 2020 06:00 ET this opinion is subject to the same and... Enabled you may be blocked from proceeding highly likely to see long-term in!