Prospect Capital Expands Preferred Stock Program to iCapital Marketplace

summarizeSummary

Prospect Capital Corporation announced the expansion of its multi-billion-dollar 7.50% Perpetual Preferred Stock Program to the iCapital Marketplace, broadening access for institutional and private wealth investors.

check_boxKey Events

• Expanded Distribution for Preferred Stock

  Prospect Capital's 7.50% Perpetual Preferred Stock Series A5 and M5 offerings are now available on the iCapital Marketplace.

• Broadened Investor Access

  This move aims to expand access for institutions, Registered Investment Advisors, private wealth managers, and financial advisors to the ongoing offerings.

• Significant Capital Program

  The perpetual preferred stock program has already raised nearly $2 billion and features a 7.50% fixed monthly dividend rate.

• Strategic Partnership

  The company expects this collaboration to benefit its private wealth offerings and enhance diversification and long-term wealth-building value for investors.

auto_awesomeAnalysis

This strategic move enhances Prospect Capital's ability to raise capital by making its ongoing preferred stock offerings more accessible to a wider range of investors, including institutions and private wealth managers. The expansion to iCapital Marketplace is expected to streamline investment access and support the company's funding strategy, particularly as it highlights the attractiveness of its fixed 7.50% dividend rate in a declining interest rate environment. This development is positive for the company's financial flexibility and investor diversification.