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Market Cap £2.19bn
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Position in Universe 1834th / 6853

Prospect Capital Corporation Announces Results of Cash Tender Offer For Any and All of its Outstanding 6.375% Notes due 2024

Tue 23rd March, 2021 12:30pm
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NEW YORK, March 23, 2021 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (the
“Company”) today announced the results of its previously announced cash
tender offer (the “Tender Offer”) to purchase any and all of the
outstanding notes listed below. The Tender Offer was made pursuant to an Offer
to Purchase dated March 16, 2021 (the “Offer to Purchase”), which set
forth the terms and conditions of the Tender Offer.

As of the previously announced expiration time of 5:00 p.m., New York City
time, on March 22, 2021 (the “Expiration Time”), according to information
provided by D.F. King & Co., Inc., the information and tender agent for the
Tender Offer, a total of $647,000 aggregate principal amount of Notes (defined
below) had been validly tendered and not validly withdrawn in the Tender
Offer. This amount includes $0 tendered pursuant to the guaranteed delivery
procedures described in the Offer to Purchase and notice of guaranteed
delivery, dated March 16, 2021, which remains subject to the holders’
performance of the delivery requirements under such procedures. Withdrawal
rights for the Notes expired at 5:00 p.m., New York City time, on March 22,
2021. The table below sets forth the aggregate principal amount and percentage
of the Notes validly tendered and not validly withdrawn by the Expiration Time
that will be accepted for purchase by the Company (the “Eligible Notes”).

 Title of Security                        CUSIP / ISIN Nos.         Outstanding Principal   Principal Amount   
                                                                    Amount                  Tendered           
 6.375% Notes due 2024 (the “Notes”)      74348TAS1 / US74348TAS15  $82,262,000             $647,000           

The consideration to be paid for the Eligible Notes is $1,087.50 for each
$1,000 principal amount of Eligible Notes, plus accrued and unpaid interest on
the Eligible Notes, if any, from the applicable last interest payment date up
to, but not including, the settlement date, which date is expected to be March
25, 2021.

The Company has retained D.F. King & Co., Inc. to serve as the Information and
Tender Agent for the Notes in the Tender Offer.

The Tender Offer is being made pursuant to the terms and conditions contained
in the Offer to Purchase, a copy of which may be obtained from D.F. King &
Co., Inc. at (212) 269-5550 (Banks and Brokers) or (866) 388-7452 (toll free),
or via psec@dfking.com.

A copy of the Offer to Purchase is also available at the following web
address: 
https://dfking.com/psec/

This announcement is for informational purposes only and is not an offer to
purchase or sell or a solicitation of an offer to purchase or sell, with
respect to any securities. The solicitation of offers to buy the Notes is only
being made pursuant to the terms of the Offer to Purchase, as it may be
amended or supplemented. The Tender Offer is not being made in any state or
jurisdiction in which such offer would be unlawful prior to registration or
qualification under the securities laws of any such state or jurisdiction.
None of the Company or the Information and Tender Agent are making any
recommendation as to whether or not holders should tender their Notes in
connection with the Tender Offer.

About Prospect Capital Corporation

Prospect Capital Corporation is a business development company that focuses on
lending to and investing in private businesses. Prospect's investment
objective is to generate both current income and long-term capital
appreciation through debt and equity investments.

Prospect has elected to be treated as a business development company under the
Investment Company Act of 1940 (“1940 Act”). Prospect is required to
comply with regulatory requirements under the 1940 Act as well as applicable
NASDAQ, federal and state rules and regulations. We have elected to be treated
as a regulated investment company under the Internal Revenue Code of 1986.

Caution Concerning Forward-Looking Statements

This press release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, Section 21E of the
Securities Exchange Act of 1934, as amended, and the Private Securities
Litigation Reform Act of 1995, whose safe harbor for forward-looking
statements does not apply to business development companies. These
forward-looking statements include statements regarding expectations as to the
completion of the transactions contemplated by the Tender Offer. Any such
statements, other than statements of historical fact, are highly likely to be
affected by other unknowable future events and conditions, including elements
of the future that are or are not under our control, and that we may or may
not have considered; accordingly, such statements cannot be guarantees or
assurances of any aspect of future performance. Actual developments and
results are highly likely to vary materially from any forward-looking
statements. Such statements speak only as of the time when made, and we
undertake no obligation to update any such statement now or in the future.

For further information, contact:

Grier Eliasek, President and Chief Operating Officer
grier@prospectcap.com
Telephone (212) 448-0702



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