PROSPECT CAPITAL CORP
For the period ended Sep 30, 2024. Filed Nov 8, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 8, 2024
What changed in Risk Factors?
Read the current filingPrevious report: 10-Q
Period ended 2024-03-31; filed 2024-05-08.
0001287032-24-000152
Item 1A. Risk FactorsCurrent report: 10-Q
Period ended 2024-09-30; filed 2024-11-08.
0001287032-24-000408
Item 1A. Risk FactorsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 29 previous paragraphs and 29 current paragraphs.
26 unchanged; 3 reworded; 0 added; 0 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 2 previous and 2 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Reworded paragraphs (3)
Previous wording
The below calculation assumes (i) $8.4 billion in total assets, (ii) an average cost of funds of 5.77% (including preferred dividend payments), (iii) $2.5 billion in debt outstanding, (iv) $0.82 billion in liquidation preference of 5.50% Preferred Stock outstanding, (v) $0.13 billion in 5.35% Preferred Stock outstanding, (vi) $0.83 billion in liquidation preference of 6.50% Preferred Stock outstanding, (vii) $0.53 billion in liquidation preference of the Floating Rate Preferred Stock outstanding (viii), $3.7 billion of common stockholders’ equity.
Current wording
The below calculation assumes (i) $8.0 billion in total assets, (ii) an average cost of funds of 5.55% (including preferred dividend payments), (iii) $2.3 billion in debt outstanding, (iv) $0.7 billion in liquidation preference of 5.50% Preferred Stock outstanding, (v) $0.13 billion in 5.35% Preferred Stock outstanding, (vi) $0.7 billion in liquidation preference of 6.50% Preferred Stock outstanding, (vii) $0.7 billion in liquidation preference of the Floating Rate Preferred Stock outstanding (viii), $3.5 billion of common stockholders’ equity.
Previous wording
The below calculation assumes (i) $8.5 billion in total assets, (ii) an average cost of funds of 5.65% (including preferred dividend payments, (ii) $2.5 billion in debt outstanding, (iv) $0.13 billion in 5.35% Preferred Stock outstanding (v) $0.53 billion in liquidation preference of the Floating Rate Preferred Stock outstanding , and (vi) $5.3 billion of common stockholders’ equity.
Current wording
The below calculation assumes (i) $8.0 billion in total assets, (ii) an average cost of funds of 5.36% (including preferred dividend payments), (ii) $2.3 billion in debt outstanding, (iv) $0.13 billion in 5.35% Preferred Stock outstanding (v) $0.7 billion in liquidation preference of the Floating Rate Preferred Stock outstanding, and (vi) $4.9 billion of common stockholders’ equity.
Previous wording
(2) Assumes the conversion of $0.82 billion in 5.50% Preferred Stock and $0.83 billion in 6.50% Preferred Stock at a conversion rate based on the 5-day VWAP of our common stock on March 31, 2024, which was$5.50, and a Holder Optional Conversion Fee (as defined in the prospectus supplement relating to the applicable offering) of 9.00% on Series A1 Preferred Stock, Series A3 Preferred Stock, and Series AA2 Preferred Stock of the maximum public offering price disclosed within the applicable prospectus supplements. The actual 5-day VWAP of our common stock on a Holder Conversion Exercise Date may be more or less than $5.50, whichmay result in more or less shares of common stock issued.
Current wording
(2) Assumes the conversion of $0.7 billion in 5.50% Preferred Stock and $0.7 billion in 6.50% Preferred Stock at a conversion rate based on the 5-day VWAP of our common stock on September 30, 2024, which was $5.36, and a Holder Optional Conversion Fee (as defined in the prospectus supplement relating to the applicable offering) of 9.00% on Series A1 Preferred Stock, Series A3 Preferred Stock, and Series AA2 Preferred Stock of the maximum public offering price disclosed within the applicable prospectus supplements. The actual 5-day VWAP of our common stock on a Holder Conversion Exercise Date may be more or less than $5.36, which may result in more or less shares of common stock issued.