Prospect Capital Corporation (NASDAQ:PSEC) Q1 2023 Earnings Conference Call November 10, 2022 10:00 AM ET Company Participants John Barry – Chairman and Chief Executive Officer Grier Eliasek – President and Chief Operating Officer Kristin Van Dask – Chief Financial Officer Conference Call Participants Operator Good day and welcome to the Prospect Capital First Quarter Fiscal Year 2023 Earnings Release and Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today's ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ý ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2022 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 814-00659 PROSPECT CAPITAL CORPORATION Maryland 43-2048643 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 10 East 40th Street, 42nd ...

Prospect Capital Corporation (NASDAQ:PSEC) Q4 2022 Results Conference Call August 30, 2022 11:00 AM ET Company Participants John Barry - Chairman and CEO Grier Eliasek - President and COO Kristin Van Dask - CFO Conference Call Participants Finian O’Shea - Wells Fargo Robert Dodd - Raymond James Operator Good day. and welcome to the Prospect Capital Corporation Fiscal Year End and Fourth Quarter Earnings Release and Conference Call. [Operator Instructions] Please note this event is being recorded. I would n ...

Prospect Capital Corporation (NASDAQ:PSEC) Q3 2022 Results Conference Call May 10, 2022 4:00 PM ET Company Participants John Barry - Chairman and CEO Grier Eliasek - President and COO Kristin Van Dask - CFO Conference Call Participants Matt Tjaden - Raymond James Operator Good afternoon, and welcome to Prospect Capital’s Third Fiscal Quarter Earnings Release and Conference Call. All participants will be in a listen-only mode. [Operator Instructions] Please note this event is being recorded. I would now like ...

[FORWARD-LOOKING STATEMENTS](index=3&type=section&id=FORWARD-LOOK%20STATEMENTS) This section identifies forward-looking statements and outlines inherent risks and uncertainties that could cause actual results to differ from projections - Forward-looking statements are identified by words like "believe," "expect," "intend," and "estimate," and are subject to risks and uncertainties[7](index=7&type=chunk) - Key risks include future operating results, business prospects of portfolio companies, impact of investments, contractual arrangements, general economy, global health epidemics (COVID-19), financial stability (US, Europe, China), financing difficulties, interest rate volatility (including LIBOR to SOFR transition), adverse investment opportunities, regulatory structure, and cash resources[8](index=8&type=chunk) PART I FINANCIAL INFORMATION [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) This section presents unaudited consolidated financial statements, detailing assets, liabilities, operations, cash flows, and investment schedules [Consolidated Statements of Assets and Liabilities](index=4&type=section&id=Consolidated%20Statements%20of%20Assets%20and%20Liabilities%20as%20of%20March%2031%2C%202022%20(unaudited)%20and%20June%2030%2C%202021) This statement provides a snapshot of the company's financial position, detailing assets, liabilities, and net assets at specific dates Consolidated Statements of Assets and Liabilities (Selected Data) | Metric (in thousands) | March 31, 2022 (Unaudited) | June 30, 2021 (Audited) | Change | | :-------------------- | :-------------------------- | :---------------------- | :----- | | Total investments at fair value | $7,429,931 | $6,201,778 | +$1,228,153 | | Cash | $36,402 | $63,610 | -$27,208 | | Total Assets | $7,495,685 | $6,303,092 | +$1,192,593 | | Revolving Credit Facility | $699,440 | $356,937 | +$342,503 | | Public Notes | $1,341,858 | $1,114,717 | +$227,141 | | Prospect Capital InterNotes® | $333,578 | $498,215 | -$164,637 | | Convertible Notes | $213,875 | $263,100 | -$49,225 | | Total Liabilities | $2,694,790 | $2,357,575 | +$337,215 | | Preferred Stock (carrying value) | $564,884 | $137,040 | +$427,844 | | Net Assets Applicable to Common Shares | $4,236,011 | $3,945,517 | +$290,494 | | Net Asset Value Per Common Share | $10.81 | $9.81 | +$1.00 | [Consolidated Statements of Operations](index=5&type=section&id=Consolidated%20Statements%20of%20Operations%20for%20the%20three%20and%20nine%20months%20ended%20March%2031%2C%202022%20and%20March%2031%2C%202021) This statement details the company's revenues, expenses, and net income over specific periods, reflecting operational performance Consolidated Statements of Operations (Selected Data) | Metric (in thousands, except per share) | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | Nine Months Ended March 31, 2022 | Nine Months Ended March 31, 2021 | | :------------------------------------ | :-------------------------------- | :-------------------------------- | :------------------------------- | :------------------------------- | | Total Investment Income | $181,431 | $159,456 | $526,281 | $474,628 | | Total Operating Expenses | $94,426 | $86,054 | $272,350 | $262,120 | | Net Investment Income | $87,005 | $73,402 | $253,931 | $212,508 | | Net Realized (Losses) Gains | $(2,254) | $881 | $(12,082) | $7,451 | | Net Change in Unrealized Gains | $80,486 | $184,960 | $398,340 | $518,577 | | Net Increase in Net Assets Resulting from Operations | $164,296 | $246,408 | $630,040 | $720,121 | | Basic Earnings Per Common Share | $0.40 | $0.64 | $1.57 | $1.89 | | Diluted Earnings Per Common Share | $0.38 | $0.63 | $1.50 | $1.88 | - For the three months ended March 31, 2022, interest income from non-control/non-affiliate investments increased to **$65,037 thousand** from $52,846 thousand YoY[13](index=13&type=chunk) - For the nine months ended March 31, 2022, total dividend income significantly increased to **$12,277 thousand** from $3,707 thousand YoY, primarily from control investments[13](index=13&type=chunk) [Consolidated Statements of Changes in Net Assets](index=6&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Net%20Assets%20for%20the%20three%20and%20nine%20months%20ended%20March%2031%2C%202022%20and%20March%2031%2C%202021) This statement outlines the changes in the company's net assets over time, including income, distributions, and stock transactions Consolidated Statements of Changes in Net Assets (Selected Data) | Metric (in thousands) | Three Months Ended March 31, 2022 | Nine Months Ended March 31, 2022 | | :-------------------- | :-------------------------------- | :------------------------------- | | Balance as of Dec 31, 2021 / June 30, 2021 | $4,140,128 | $3,945,517 | | Net investment income | $87,005 | $253,931 | | Net realized losses | $(3,195) | $(22,231) | | Net change in unrealized gains | $80,486 | $398,340 | | Distributions from earnings | $(77,578) | $(223,775) | | Shares issued through reinvestment of dividends | $9,050 | $25,982 | | Conversion of preferred stock to common stock | $115 | $259 | | Total increase / (decrease) for the period | $95,883 | $290,494 | | Balance as of March 31, 2022 | $4,236,011 | $4,236,011 | - During the nine months ended March 31, 2022, the company reclassified **$144,914 thousand** of preferred stock to temporary equity[18](index=18&type=chunk)[19](index=19&type=chunk) [Consolidated Statements of Cash Flows](index=8&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows%20for%20the%20nine%20months%20ended%20March%2031%2C%202022%20and%20March%2031%2C%202021) This statement reports the cash generated and used by operating, investing, and financing activities over specific periods Consolidated Statements of Cash Flows (Selected Data) | Metric (in thousands) | Nine Months Ended March 31, 2022 | Nine Months Ended March 31, 2021 | | :-------------------- | :------------------------------- | :------------------------------- | | Net Cash (Used in) Provided by Operating Activities | $(589,727) | $131,003 | | Payments for purchases of investments | $(1,767,402) | $(701,768) | | Proceeds from sale of investments and collection of investment principal | $940,539 | $673,329 | | Net Cash Provided by (Used in) Financing Activities | $562,519 | $(74,575) | | Borrowings under Revolving Credit Facility | $1,627,051 | $668,000 | | Proceeds from issuance of preferred stock, net of underwriting costs | $429,433 | $61,823 | | Dividends paid and distributions to stockholders | $(199,697) | $(132,671) | | Net (Decrease) Increase in Cash | $(27,208) | $56,428 | | Cash at End of Period | $36,402 | $100,989 | - Cash paid for interest decreased from $106,454 thousand in 2021 to **$86,505 thousand** in 2022 for the nine months ended March 31[23](index=23&type=chunk) [Consolidated Schedules of Investments](index=9&type=section&id=Consolidated%20Schedules%20of%20Investments%20as%20of%20March%2031%2C%202022%20(unaudited)%20and%20June%2030%2C%202021) This schedule provides a detailed breakdown of the company's investment portfolio, categorized by control designation and investment type Total Investments at Fair Value by Control Designation | Control Designation | March 31, 2022 (Fair Value in thousands) | % of Net Assets | June 30, 2021 (Fair Value in thousands) | % of Net Assets | | :------------------ | :--------------------------------------- | :-------------- | :-------------------------------------- | :-------------- | | Control Investments | $3,378,505 | 79.8% | $2,919,717 | 74.0% | | Affiliate Investments | $417,652 | 9.9% | $356,734 | 9.0% | | Non-Control/Non-Affiliate Investments | $3,633,774 | 85.7% | $2,925,327 | 74.2% | | **Total Investments** | **$7,429,931** | **175.4%** | **$6,201,778** | **157.2%** | Investment Portfolio by Type (Fair Value) | Type of Investment | March 31, 2022 (Fair Value in thousands) | % of Portfolio | June 30, 2021 (Fair Value in thousands) | % of Portfolio | | :----------------- | :--------------------------------------- | :------------- | :-------------------------------------- | :------------- | | First Lien Debt | $3,561,170 | 47.9% | $3,128,845 | 50.4% | | Second Lien Debt | $1,373,240 | 18.5% | $959,311 | 15.5% | | Subordinated Structured Notes | $728,833 | 9.8% | $756,109 | 12.2% | | Equity | $1,724,755 | 23.2% | $1,304,181 | 21.0% | - As of March 31, 2022, the largest industry concentration in the portfolio by fair value is Equity Real Estate Investment Trusts (REITs) at **18.2%**, followed by Consumer Finance at **11.1%**[119](index=119&type=chunk) - As of March 31, 2022, **87.20%** of interest-earning investments bore interest at floating rates, and **0.4%** of total assets at fair value were on non-accrual status[235](index=235&type=chunk)[718](index=718&type=chunk) [Notes to Consolidated Financial Statements](index=45&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements%20(unaudited)) These notes provide detailed explanations and additional information supporting the consolidated financial statements [Note 1. Organization](index=45&type=section&id=Note%201.%20Organization) This note describes the company's business, legal structure, and external management arrangements - Prospect Capital Corporation is a BDC and RIC, focused on debt and equity investments in middle-market private companies[118](index=118&type=chunk)[122](index=122&type=chunk) - The company uses wholly-owned subsidiaries like Prospect Capital Funding LLC (PCF) for collateralized loans, Prospect Small Business Lending, LLC (PSBL) for small business loans, and Prospect Yield Corporation, LLC (PYC) for CLOs[119](index=119&type=chunk) - Prospect is externally managed by Prospect Capital Management L.P., with administrative services provided by Prospect Administration LLC[121](index=121&type=chunk) [Note 2. Significant Accounting Policies](index=45&type=section&id=Note%202.%20Significant%20Accounting%20Policies) This note outlines the key accounting principles and methods used in preparing the financial statements - Investments are classified as Control (over 25% voting control), Affiliate (5-24.99% voting control), or Non-Control/Non-Affiliate (less than 5% voting control)[126](index=126&type=chunk) - As a BDC, at least **70%** of total assets must be "qualifying assets"; as of March 31, 2022, qualifying assets were **79.22%** of total assets[127](index=127&type=chunk) - Investment valuation follows ASC 820, categorizing inputs into Level 1 (quoted active markets), Level 2 (similar assets/inactive markets), and Level 3 (unobservable inputs); most investments are Level 3[138](index=138&type=chunk)[139](index=139&type=chunk)[140](index=140&type=chunk) - Loans are placed on non-accrual status when collectibility is doubtful; as of March 31, 2022, approximately **0.4%** of total assets at fair value were on non-accrual[150](index=150&type=chunk) - The company has elected to be treated as a RIC and intends to distribute at least **90%** of its investment company taxable income to stockholders, thus making no provision for income taxes[154](index=154&type=chunk) [Note 3. Portfolio Investments](index=52&type=section&id=Note%203.%20Portfolio%20Investments) This note provides detailed information on the company's investment portfolio, including valuation and activity Total Investments | Metric (in thousands) | March 31, 2022 | June 30, 2021 | | :-------------------- | :------------- | :------------ | | Amortized Cost | $6,887,937 | $6,058,124 | | Fair Value | $7,429,931 | $6,201,778 | Investment Activity (Nine Months Ended March 31) | Activity (in thousands) | 2022 | 2021 | | :---------------------- | :----------- | :----------- | | Total acquisitions | $1,844,869 | $781,138 | | Total dispositions | $952,621 | $665,878 | - The fair value of Level 3 investments increased by **$396,958 thousand** for the nine months ended March 31, 2022, primarily due to net unrealized gains of **$408,612 thousand**[176](index=176&type=chunk) - As of March 31, 2022, **$4,245,990 thousand** (at fair value) of loans bear interest at floating rates (with LIBOR/SOFR floors from 0.0%-3.0%), and **$730,353 thousand** bear interest at fixed rates (1.0%-22.0%)[234](index=234&type=chunk) - The COVID-19 pandemic continues to impact portfolio valuations, with aggregate increases in fair value and net unrealized depreciation driven by market multiple expansion and tightened credit spreads[181](index=181&type=chunk)[545](index=545&type=chunk) - The company has guaranteed **$2,737 thousand** in standby letters of credit and **$1,835 thousand** of equipment lease obligations for InterDent, Inc[237](index=237&type=chunk)[679](index=679&type=chunk) [Note 4. Revolving Credit Facility](index=67&type=section&id=Note%204.%20Revolving%20Credit%20Facility) This note details the terms, outstanding amounts, and collateral of the company's revolving credit facility - The Revolving Credit Facility has commitments of **$1,500,000 thousand**, matures on April 27, 2026, and has a revolving period until April 27, 2025[245](index=245&type=chunk) - Interest rate on borrowings is one-month LIBOR plus **205 basis points**[247](index=247&type=chunk) Revolving Credit Facility Outstanding and Availability (in thousands) | Metric | March 31, 2022 | June 30, 2021 | | :-------------------- | :------------- | :------------ | | Outstanding Borrowings | $699,440 | $356,937 | | Available for Borrowing | $730,410 | $640,853 | - Collateral for the facility, held by PCF, had an aggregate fair value of **$2,559,645 thousand** as of March 31, 2022, representing **34.3%** of total investments[248](index=248&type=chunk) Revolving Credit Facility Expenses (Nine Months Ended March 31) | Expense (in thousands) | 2022 | 2021 | | :--------------------- | :------ | :------ | | Interest costs, unused fees, and amortization of financing costs | $16,153 | $13,772 | [Note 5. Convertible Notes](index=68&type=section&id=Note%205.%20Convertible%20Notes) This note describes the terms, outstanding principal, and interest expenses related to the company's convertible notes - As of March 31, 2022, outstanding principal for 2022 Notes is **$60,501 thousand** and for 2025 Notes is **$156,168 thousand**[258](index=258&type=chunk)[260](index=260&type=chunk) - The 2022 Notes bear interest at **4.95%** and the 2025 Notes at **6.375%**[251](index=251&type=chunk)[259](index=259&type=chunk) - The company recognized losses from tender offers and repurchases of Convertible Notes, including **$1,584 thousand** for 2022 Notes in August 2021 and **$2,676 thousand** for 2025 Notes in December 2020[258](index=258&type=chunk)[260](index=260&type=chunk) Convertible Notes Interest Expense (Nine Months Ended March 31) | Expense (in thousands) | 2022 | 2021 | | :--------------------- | :------ | :------ | | Interest costs and amortization of financing costs | $11,333 | $17,905 | [Note 6. Public Notes](index=70&type=section&id=Note%206.%20Public%20Notes) This note provides information on the company's public notes, including issuances, redemptions, and interest expenses - As of March 31, 2022, the total outstanding aggregate principal amount of Public Notes is **$1,365,459 thousand**[288](index=288&type=chunk) - The 2024 Notes and 2028 Notes were fully redeemed in February 2021 and June 2021, respectively[275](index=275&type=chunk)[277](index=277&type=chunk) - New Public Notes issued in 2021 include 2026 Notes (**$400,000 thousand** at 3.706%), 3.364% 2026 Notes (**$300,000 thousand** at 3.364%), and 3.437% 2028 Notes (**$300,000 thousand** at 3.437%)[285](index=285&type=chunk)[286](index=286&type=chunk)[287](index=287&type=chunk) Public Notes Interest Expense (Nine Months Ended March 31) | Expense (in thousands) | 2022 | 2021 | | :--------------------- | :------ | :------ | | Interest costs and amortization of financing costs | $46,336 | $38,441 | [Note 7. Prospect Capital InterNotes®](index=74&type=section&id=Note%207.%20Prospect%20Capital%20InterNotes%C2%AE) This note details the outstanding amounts, issuances, repayments, and interest expenses of Prospect Capital InterNotes® - As of March 31, 2022, **$340,774 thousand** aggregate principal amount of Prospect Capital InterNotes® were outstanding[294](index=294&type=chunk) - During the nine months ended March 31, 2022, **$155,909 thousand** in new InterNotes® were issued with weighted average interest rate of **3.48%**, maturing between 2025 and 2052[296](index=296&type=chunk)[636](index=636&type=chunk) - During the nine months ended March 31, 2022, **$323,846 thousand** of InterNotes® were repaid or redeemed, resulting in a net loss on extinguishment of **$6,403 thousand**[297](index=297&type=chunk)[638](index=638&type=chunk) Prospect Capital InterNotes® Interest Expense (Nine Months Ended March 31) | Expense (in thousands) | 2022 | 2021 | | :--------------------- | :------ | :------ | | Interest costs and amortization of financing costs | $13,130 | $30,431 | [Note 8. Fair Value and Maturity of Debt Outstanding](index=76&type=section&id=Note%208.%20Fair%20Value%20and%20Maturity%20of%20Debt%20Outstanding) This note presents the fair value, carrying value, and contractual maturities of the company's outstanding debt Outstanding Debt as of March 31, 2022 | Debt Type | Principal Outstanding (in thousands) | Net Carrying Value (in thousands) | Fair Value (in thousands) | Effective Interest Rate | | :------------------------ | :----------------------------------- | :-------------------------------- | :------------------------ | :---------------------- | | Revolving Credit Facility | $699,440 | $699,440 | $699,440 | 1ML+2.05% | | Convertible Notes | $216,669 | $213,875 | $227,760 | 5.63%-6.63% | | Public Notes | $1,365,459 | $1,341,858 | $1,286,416 | 3.60%-6.57% | | Prospect Capital InterNotes® | $340,774 | $333,578 | $361,624 | 5.73% | | **Total** | **$2,622,342** | **$2,588,751** | **$2,575,240** | | Contractual Maturities of Debt as of March 31, 2022 | Debt Type | Total (in thousands) | Less than 1 Year (in thousands) | 1 – 3 Years (in thousands) | 3 – 5 Years (in thousands) | After 5 Years (in thousands) | | :------------------------ | :------------------- | :------------------------------ | :------------------------- | :------------------------- | :--------------------------- | | Revolving Credit Facility | $699,440 | $— | $— | $699,440 | $— | | Convertible Notes | $216,669 | $60,501 | $156,168 | $— | $— | | Public Notes | $1,365,459 | $284,219 | $81,240 | $700,000 | $300,000 | | Prospect Capital InterNotes® | $340,774 | $— | $2,161 | $88,361 | $250,252 | | **Total Contractual Obligations** | **$2,622,342** | **$344,720** | **$239,569** | **$1,487,801** | **$550,252** | - As of March 31, 2022, the asset coverage ratio for indebtedness was **282.6%**, and for senior securities that are stock was **230.0%**[302](index=302&type=chunk) [Note 9. Equity Offerings, Offering Expenses, and Distributions](index=83&type=section&id=Note%209.%20Equity%20Offerings%2C%20Offering%20Expenses%2C%20and%20Distributions) This note covers details of preferred stock issuances, common stock distributions, and share repurchase plans - The company has issued multiple series of preferred stock (5.50% Series A1, M1, M2, AA1, MM1, A2, and 5.35% Series A), which rank senior to common stock and on parity with each other[320](index=320&type=chunk)[322](index=322&type=chunk)[327](index=327&type=chunk)[328](index=328&type=chunk) - Preferred stock is convertible at the holder's option (Holder Optional Conversion) or the issuer's option (Issuer Optional Conversion) under specific terms, including cash or common stock settlement[323](index=323&type=chunk)[325](index=325&type=chunk) - During the nine months ended March 31, 2022, the company issued **11,230,210 shares** of Series A1 Preferred Stock, **1,251,361 shares** of Series M1 Preferred Stock, and **6,000,000 shares** of Series A Preferred Stock, for total net proceeds of **$429,433 thousand**[344](index=344&type=chunk) Distributions to Preferred Stockholders (Nine Months Ended March 31, 2022) | Preferred Stock Type | Amount Distributed (in thousands) | | :------------------- | :-------------------------------- | | 5.50% Preferred Stock | $11,078 | | 5.35% Series A Preferred Stock | $4,302 | | **Total** | **$15,380** | - During the nine months ended March 31, 2022, common stock distributions totaled **$210,722 thousand**, and **3,268,814 shares** of common stock were issued through the dividend reinvestment plan[362](index=362&type=chunk)[364](index=364&type=chunk) - The company has a common stock repurchase plan for up to **$100,000 thousand**, with **$65,860 thousand** remaining as of March 31, 2022[354](index=354&type=chunk)[355](index=355&type=chunk) [Note 10. Other Income](index=91&type=section&id=Note%2010.%20Other%20Income) This note breaks down the components of other income, including structuring fees and royalty interests Other Income Components (Nine Months Ended March 31) | Income Type (in thousands) | 2022 | 2021 | | :------------------------- | :------ | :------ | | Structuring, advisory, and amendment fees | $38,963 | $26,293 | | Royalty and net revenue interests | $43,579 | $27,638 | | Administrative agent fees | $529 | $381 | | **Total other income** | **$83,071** | **$54,312** | - Other income increased from $54,312 thousand in 2021 to **$83,071 thousand** in 2022 for the nine months ended March 31, primarily due to higher structuring fees and royalty/net revenue interests[368](index=368&type=chunk)[651](index=651&type=chunk) [Note 11. Net Increase (Decrease) in Net Assets per Common Share](index=91&type=section&id=Note%2011.%20Net%20Increase%20(Decrease)%20in%20Net%20Assets%20per%20Common%20Share) This note provides a reconciliation of the changes in net assets per common share, including earnings and distributions Basic and Diluted Earnings Per Common Share (Nine Months Ended March 31) | Metric | 2022 | 2021 | | :----- | :---- | :---- | | Basic EPS | $1.57 | $1.89 | | Diluted EPS | $1.50 | $1.88 | - The net increase in net assets resulting from operations applicable to common stockholders for the nine months ended March 31, 2022, was **$613,292 thousand**, compared to $719,675 thousand in the prior year[370](index=370&type=chunk) [Note 12. Income Taxes](index=92&type=section&id=Note%2012.%20Income%20Taxes) This note details the company's tax status as a RIC, dividend tax character, and capital loss carryforwards Tax Character of Dividends Paid to Common Stockholders (Tax Year Ended August 31, 2021) | Tax Character | Amount (in thousands) | | :------------ | :-------------------- | | Ordinary income | $251,171 | | Return of capital | $25,784 | | **Total** | **$276,955** | - For the 2022 calendar year, **48.13%** of taxable dividends qualified as interest-related dividends (exempt from U.S. withholding tax for non-U.S. stockholders), and **69.16%** of taxable ordinary dividends qualified as section 163(j) interest dividends[375](index=375&type=chunk)[376](index=376&type=chunk) - As of March 31, 2022, the estimated net unrealized gain for tax purposes was **$527,188 thousand**, with capital loss carryforwards of **$129,669 thousand**[382](index=382&type=chunk)[380](index=380&type=chunk) [Note 13. Related Party Agreements and Transactions](index=93&type=section&id=Note%2013.%20Related%20Party%20Agreements%20and%20Transactions) This note describes agreements and transactions with related parties, including management and incentive fees - The Investment Adviser receives a base management fee of **2.00%** on total assets and an incentive fee with income and capital gains components[385](index=385&type=chunk)[386](index=386&type=chunk)[389](index=389&type=chunk) Investment Advisory Fees (Nine Months Ended March 31) | Fee Type (in thousands) | 2022 | 2021 | | :---------------------- | :------- | :------- | | Base management fee | $102,472 | $83,866 | | Income incentive fee | $59,296 | $53,354 | - Prospect Administration provides administrative services and is reimbursed for allocable overhead, totaling **$10,891 thousand** for the nine months ended March 31, 2022[391](index=391&type=chunk)[394](index=394&type=chunk) - The company has an exemptive order from the SEC for co-investment transactions with other funds managed by the Investment Adviser or affiliates[399](index=399&type=chunk) - The company provides managerial assistance to portfolio companies, remitting payments received from them to Prospect Administration; for the nine months ended March 31, 2022, **$5,946 thousand** was received and remitted[396](index=396&type=chunk)[398](index=398&type=chunk) [Note 14. Transactions with Controlled Companies](index=97&type=section&id=Note%2014.%20Transactions%20with%20Controlled%20Companies) This note provides details on significant transactions and income generated from controlled portfolio companies - CP Energy Services Inc. (including Spartan Energy Services, LLC) generated **$5,185 thousand** in interest income for the nine months ended March 31, 2022, and saw **$9,681 thousand** in additions[406](index=406&type=chunk) - First Tower Finance Company LLC generated **$54,959 thousand** in interest income and **$7,898 thousand** in structuring fees for the nine months ended March 31, 2022, with **$22,123 thousand** in additions[424](index=424&type=chunk)[425](index=425&type=chunk) - National Property REIT Corp. (NPRC) generated **$46,441 thousand** in interest income and **$45,867 thousand** in other income (including royalty/net interest) for the nine months ended March 31, 2022; it also had **$280,167 thousand** in additions and **$289,882 thousand** in repayments[449](index=449&type=chunk)[450](index=450&type=chunk) - NMMB, Inc. generated **$394 thousand** in interest income and **$7,034 thousand** in dividend income for the nine months ended March 31, 2022, with **$25,000 thousand** in additions and **$12,983 thousand** in repayments[459](index=459&type=chunk)[462](index=462&type=chunk) [Note 15. Litigation](index=109&type=section&id=Note%2015.%20Litigation) This note addresses any material legal proceedings the company may be involved in - The company is not aware of any material legal proceedings as of March 31, 2022[494](index=494&type=chunk)[730](index=730&type=chunk) [Note 16. Financial Highlights](index=110&type=section&id=Note%2016.%20Financial%20Highlights) This note presents key financial performance metrics and ratios on a per-share basis Per Share Data (Nine Months Ended March 31) | Metric | 2022 | 2021 | | :----- | :---- | :---- | | Net asset value per common share at beginning of period | $9.81 | $8.18 | | Net investment income | $0.65 | $0.56 | | Net realized and change in unrealized gains | $0.96 | $1.33 | | Net increase from operations | $1.61 | $1.89 | | Distributions of net investment income to preferred stockholders | $(0.04) | $— | | Net increase from operations applicable to common stockholders | $1.57 | $1.89 | | Distributions of net investment income to common stockholders | $(0.53) | $(0.48) | | Net asset value per common share at end of period | $10.81 | $9.38 | | Total return based on net asset value | 17.92% | 26.70% | - The annualized ratio of operating expenses to average net assets applicable to common shares was **9.01%** for the nine months ended March 31, 2022[496](index=496&type=chunk) [Note 17. Selected Quarterly Financial Data (Unaudited)](index=112&type=section&id=Note%2017.%20Selected%20Quarterly%20Financial%20Data%20(Unaudited)) This note provides a summary of key financial data for the most recent quarter Selected Quarterly Financial Data (Quarter Ended March 31, 2022) | Metric (in thousands, except per share) | Quarter Ended March 31, 2022 | | :------------------------------------ | :--------------------------- | | Total Investment Income | $181,431 | | Net Investment Income | $87,005 | | Net Realized and Unrealized (Losses) Gains | $77,291 | | Net Increase in Net Assets from Operations Applicable to Common Stockholders | $157,157 | | Per Share (Basic) | $0.40 | [Note 18. Subsequent Events](index=112&type=section&id=Note%2018.%20Subsequent%20Events) This note discloses significant events that occurred after the reporting period but before the financial statements were issued - On April 26, 2022, the company made a new **$18,500 thousand** First Lien Term Loan and a **$75,000 thousand** Second Lien Term Loan investment in DTI Holdco, Inc[503](index=503&type=chunk)[710](index=710&type=chunk) - Monthly dividends of **$0.114583 per share** for 5.50% Preferred Stock and **$0.0600 per share** for common stock were declared for June, July, and August 2022[504](index=504&type=chunk)[505](index=505&type=chunk)[712](index=712&type=chunk) - Quarterly dividends of **$0.334375 per share** for 5.35% Preferred Stock were declared for May-July 2022[505](index=505&type=chunk)[712](index=712&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=114&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) This section discusses the company's financial condition, operational results, and liquidity, focusing on investment activities and performance [Third Quarter Highlights](index=116&type=section&id=Third%20Quarter%20Highlights) This section summarizes key financial and operational achievements during the third quarter Investment Originations and Repayments (Three Months Ended March 31, 2022) | Metric (in thousands) | Amount | | :-------------------- | :-------- | | Gross investment originations | $564,827 | | Net repayments | $184,561 | - The company redeemed **$35,084 thousand** of Prospect Capital InterNotes®, incurring a net loss of **$941 thousand** on extinguishment[523](index=523&type=chunk) - Revolving Credit Facility commitments increased by **$202,500 thousand** to **$1,500,000 thousand**[524](index=524&type=chunk) - **$125,355 thousand** in net proceeds were generated from the issuance of Series A1 and M1 Preferred Stock[526](index=526&type=chunk) [Investment Holdings](index=116&type=section&id=Investment%20Holdings) This section provides an overview of the company's investment portfolio, including its composition and fair value - As of March 31, 2022, the company held **127 long-term portfolio investments** and CLOs with a fair value of **$7,429,931 thousand**[528](index=528&type=chunk) - The annualized current yield was **10.6%** for performing interest-bearing investments and **8.1%** for all investments as of March 31, 2022[529](index=529&type=chunk) Investment Portfolio Composition by Control Level (Fair Value) | Level of Control | March 31, 2022 (Fair Value in thousands) | % of Portfolio | | :--------------- | :--------------------------------------- | :------------- | | Control Investments | $3,378,505 | 45.5% | | Affiliate Investments | $417,652 | 5.6% | | Non-Control/Non-Affiliate Investments | $3,633,774 | 48.9% | | **Total Investments** | **$7,429,931** | **100.0%** | Investment Portfolio Composition by Type (Fair Value) | Type of Investment | March 31, 2022 (Fair Value in thousands) | % of Portfolio | | :----------------- | :--------------------------------------- | :------------- | | First Lien Debt | $3,561,170 | 47.9% | | Second Lien Debt | $1,373,240 | 18.5% | | Subordinated Structured Notes | $728,833 | 9.8% | | Preferred Stock | $62,826 | 0.8% | | Common Stock | $1,223,201 | 16.5% | | Membership Interest | $373,551 | 5.0% | [Portfolio Investment Activity](index=120&type=section&id=Portfolio%20Investment%20Activity) This section details the company's investment acquisitions, dispositions, and related activities Investment Acquisitions and Dispositions (Nine Months Ended March 31) | Activity (in thousands) | 2022 | 2021 | | :---------------------- | :----------- | :----------- | | Investments made in new portfolio companies | $997,817 | $459,277 | | Follow-on investments made in existing portfolio companies | $777,022 | $259,111 | | PIK interest | $61,030 | $58,750 | | **Total acquisitions** | **$1,844,869** | **$781,138** | | Investments sold | $4,451 | $— | | Partial repayments | $401,201 | $148,951 | | Full repayments | $545,333 | $513,636 | | **Total dispositions** | **$952,621** | **$665,878** | Weighted Average Interest Rates for New Investments (Nine Months Ended March 31, 2022) | Investment Type | Weighted Average Interest Rate | | :-------------- | :----------------------------- | | First Lien Debt | 8.30% | | Second Lien Debt | 9.54% | [Investment Valuation](index=121&type=section&id=Investment%20Valuation) This section explains the methodologies used to value the company's investments and discusses significant changes in fair value - Investment valuation primarily uses discounted cash flow, enterprise value, net asset value, and asset recovery techniques, with most investments classified as Level 3[540](index=540&type=chunk) - The fair value of the investment in National Property REIT Corp. (NPRC) increased to **$1,528,576 thousand** as of March 31, 2022, a premium of **$784,580 thousand** over amortized cost, driven by compression of capitalization rates and growth in net operating income[566](index=566&type=chunk) - The fair value of the investment in NMMB, Inc. increased to **$80,268 thousand** as of March 31, 2022, a premium of **$50,508 thousand** over amortized cost, due to strong financial performance[568](index=568&type=chunk) - Affiliate investments, including Progrexion, had a total fair value of **$417,652 thousand** as of March 31, 2022, representing a premium of **$179,807 thousand** over combined amortized cost, primarily due to Progrexion's strong financial performance[572](index=572&type=chunk) - The CLO investment portfolio is valued at a **$287,447 thousand** discount to amortized cost as of March 31, 2022[573](index=573&type=chunk) [Capitalization](index=125&type=section&id=Capitalization) This section describes the company's capital structure, including debt and equity components, and asset coverage ratios - The company capitalizes its business with a combination of debt (Revolving Credit Facility, Convertible Notes, Public Notes, Prospect Capital InterNotes®) and equity (common and preferred)[575](index=575&type=chunk) Outstanding Debt as of March 31, 2022 | Debt Type | Principal Outstanding (in thousands) | | :------------------------ | :----------------------------------- | | Revolving Credit Facility | $699,440 | | Convertible Notes | $216,669 | | Public Notes | $1,365,459 | | Prospect Capital InterNotes® | $340,774 | | **Total** | **$2,622,342** | - The company's asset coverage ratio under the 1940 Act is **150%**, allowing it to borrow $2 for every $1 of investor equity[746](index=746&type=chunk) Contractual Maturities of Debt as of March 31, 2022 | Debt Type | Total (in thousands) | Less than 1 Year (in thousands) | 1 – 3 Years (in thousands) | 3 – 5 Years (in thousands) | After 5 Years (in thousands) | | :------------------------ | :------------------- | :------------------------------ | :------------------------- | :------------------------- | :--------------------------- | | Revolving Credit Facility | $699,440 | $— | $— | $699,440 | $— | | Convertible Notes | $216,669 | $60,501 | $156,168 | $— | $— | | Public Notes | $1,365,459 | $284,219 | $81,240 | $700,000 | $300,000 | | Prospect Capital InterNotes® | $340,774 | $— | $2,161 | $88,361 | $250,252 | | **Total Contractual Obligations** | **$2,622,342** | **$344,720** | **$239,569** | **$1,487,801** | **$550,252** | [Net Asset Value Applicable to Common Stockholders](index=136&type=section&id=Net%20Asset%20Value%20Applicable%20to%20Common%20Stockholders) This section analyzes the changes in net asset value per common share and its contributing factors - Net asset value per common share increased by **$1.00**, from $9.81 at June 30, 2021, to **$10.81** at March 31, 2022[643](index=643&type=chunk)[644](index=644&type=chunk) Net Asset Value Calculation (in thousands) | Metric | March 31, 2022 | June 30, 2021 | | :----- | :------------- | :------------ | | Net assets available to common stockholders | $4,236,011 | $3,808,477 | | Shares of common stock issued and outstanding | 391,718,136 | 388,419,573 | | Net asset value per common share | $10.81 | $9.81 | [Results of Operations](index=136&type=section&id=Results%20of%20Operations) This section provides a detailed analysis of the company's revenues, expenses, and net income for the reporting period Consolidated Statements of Operations (Selected Data) | Metric (in thousands) | Nine Months Ended March 31, 2022 | Nine Months Ended March 31, 2021 | | :-------------------- | :------------------------------- | :------------------------------- | | Total Investment Income | $526,281 | $474,628 | | Total Operating Expenses | $272,350 | $262,120 | | Net Investment Income | $253,931 | $212,508 | | Net Realized (Losses) Gains from Investments | $(12,082) | $7,451 | | Net Change in Unrealized Gains from Investments | $398,340 | $518,577 | | Net Increase in Net Assets Resulting from Operations | $630,040 | $720,121 | - The average interest rate earned on performing interest-bearing investments decreased from **10.08%** to **9.35%** for the nine months ended March 31, 2022, primarily due to reduced returns from structured credit investments[649](index=649&type=chunk) Other Income Components (Nine Months Ended March 31) | Income Type (in thousands) | 2022 | 2021 | | :------------------------- | :------ | :------ | | Structuring, advisory and amendment fees | $38,963 | $26,293 | | Royalty and net revenue interests | $43,579 | $27,638 | | Administrative agent fees | $529 | $381 | | **Total other income** | **$83,071** | **$54,312** | Operating Expenses (Nine Months Ended March 31) | Expense Type (in thousands) | 2022 | 2021 | | :-------------------------- | :------- | :------- | | Base management fee | $102,472 | $83,866 | | Income incentive fee | $59,296 | $53,354 | | Interest and credit facility expenses | $86,952 | $100,549 | | Allocation of overhead from Prospect Administration | $10,891 | $10,768 | | Total operating expenses | $272,350 | $262,120 | - Net realized losses from investments were **$12,082 thousand** for the nine months ended March 31, 2022, compared to net realized gains of $7,451 thousand in the prior year[666](index=666&type=chunk) - Net change in unrealized gains from investments decreased to **$398,340 thousand** for the nine months ended March 31, 2022, from $518,577 thousand in the prior year[668](index=668&type=chunk) [Financial Condition, Liquidity and Capital Resources](index=143&type=section&id=Financial%20Condition%2C%20Liquidity%20and%20Capital%20Resources) This section assesses the company's overall financial health, cash flow, and ability to meet its financial obligations - Global uncertainties, including the COVID-19 pandemic and the Russia-Ukraine conflict, continue to impact financial markets and the company's operations[181](index=181&type=chunk)[732](index=732&type=chunk) - The transition from LIBOR to alternative reference rates like SOFR introduces uncertainty regarding its impact on LIBOR-linked securities, loans, and financial obligations[672](index=672&type=chunk)[674](index=674&type=chunk)[738](index=738&type=chunk)[740](index=740&type=chunk)[741](index=741&type=chunk)[742](index=742&type=chunk)[743](index=743&type=chunk)[744](index=744&type=chunk) Cash Flow Summary (Nine Months Ended March 31) | Activity (in thousands) | 2022 | 2021 | | :---------------------- | :----------- | :----------- | | Net cash (used in) provided by operating activities | $(589,727) | $131,003 | | Net cash provided by (used in) financing activities | $562,519 | $(74,575) | - The company has a universal shelf registration statement for flexible capital raising through debt securities, common stock, preferred stock, subscription rights, warrants, and units[680](index=680&type=chunk) - The company's asset coverage ratio under the 1940 Act decreased to **150%** from 200% effective May 6, 2020, allowing for increased leverage[746](index=746&type=chunk) [Recent Developments](index=148&type=section&id=Recent%20Developments) This section highlights significant events and transactions that occurred after the reporting period - On April 26, 2022, the company made a new **$18,500 thousand** First Lien Term Loan and a **$75,000 thousand** Second Lien Term Loan investment in DTI Holdco, Inc[710](index=710&type=chunk) - Monthly dividends of **$0.114583 per share** for 5.50% Preferred Stock and **$0.0600 per share** for common stock were declared for June, July, and August 2022[712](index=712&type=chunk) - Quarterly dividends of **$0.334375 per share** for 5.35% Preferred Stock were declared for May-July 2022[712](index=712&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=149&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section discusses the company's exposure to market risks, primarily interest rate fluctuations and the LIBOR transition - The company is subject to interest rate risk, with **87.20%** of interest-earning investments bearing floating rates as of March 31, 2022[715](index=715&type=chunk)[718](index=718&type=chunk) - The Revolving Credit Facility is also based on floating LIBOR rates (one-month LIBOR plus **205 basis points**)[719](index=719&type=chunk) - The discontinuation of LIBOR and transition to SOFR introduces significant uncertainty and potential adverse impacts on the value of LIBOR-indexed securities and net investment income[720](index=720&type=chunk)[738](index=738&type=chunk) Annual Impact on Net Investment Income from Interest Rate Changes (as of March 31, 2022) | Basis Point Change | Interest Income (in thousands) | Interest Expense (in thousands) | Net Investment Income (in thousands) | Net Investment Income (after incentive fees) (in thousands) | | :----------------- | :----------------------------- | :------------------------------ | :----------------------------------- | :------------------------------------------ | | Up 300 | $103,049 | $20,983 | $82,066 | $65,653 | | Up 200 | $60,529 | $13,989 | $46,540 | $37,232 | | Up 100 | $25,411 | $6,994 | $18,417 | $14,734 | | Down 100 | $(3,047) | $(3,161) | $114 | $91 | [Item 4. Controls and Procedures](index=151&type=section&id=Item%204.%20Controls%20and%20Procedures) This section assesses the effectiveness of the company's disclosure controls and internal control over financial reporting - Disclosure controls and procedures were deemed **effective** as of March 31, 2022[725](index=725&type=chunk) - No material changes in internal control over financial reporting occurred during the quarter ended March 31, 2022[726](index=726&type=chunk) PART II OTHER INFORMATION [Item 1. Legal Proceedings](index=152&type=section&id=Item%201.%20Legal%20Proceedings) This section discloses any material legal proceedings the company is involved in - The company is not aware of any material legal proceedings as of March 31, 2022[730](index=730&type=chunk) [Item 1A. Risk Factors](index=152&type=section&id=Item%201A.%20Risk%20Factors) This section outlines significant risks, including geopolitical events, ESG, inflation, LIBOR transition, and leverage - The Russian invasion of Ukraine and associated sanctions could materially impact global financial markets, supply chains, and the value/liquidity of investments, potentially leading to an economic downturn[732](index=732&type=chunk)[733](index=733&type=chunk) - Risks related to corporate social responsibility (ESG) include potential damage to brand/reputation and adverse effects from new regulatory initiatives[734](index=734&type=chunk) - Inflation can adversely impact the cost of capital and the value of portfolio investments, potentially reducing returns to common stockholders and decreasing asset coverage[735](index=735&type=chunk)[736](index=736&type=chunk) - The discontinuation of LIBOR and transition to SOFR creates significant uncertainties, potentially impacting the value of LIBOR-indexed securities, increasing market volatility, and leading to interest rate mismatches in CLOs[737](index=737&type=chunk)[738](index=738&type=chunk)[739](index=739&type=chunk)[740](index=740&type=chunk)[741](index=741&type=chunk)[742](index=742&type=chunk)[743](index=743&type=chunk)[744](index=744&type=chunk) - The use of senior securities and leverage (asset coverage ratio of **150%**) exposes the company to increased volatility in net asset value, diminished operating flexibility, and potential forced liquidation of investments[745](index=745&type=chunk)[746](index=746&type=chunk)[748](index=748&type=chunk)[749](index=749&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=156&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section addresses unregistered sales of equity securities and the use of their proceeds - This section is not applicable[756](index=756&type=chunk) [Item 3. Defaults Upon Senior Securities](index=156&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) This section reports any defaults on senior securities - This section is not applicable[757](index=757&type=chunk) [Item 4. Mine Safety Disclosures](index=156&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This section provides disclosures related to mine safety - This section is not applicable[758](index=758&type=chunk) [Item 5. Other Information](index=157&type=section&id=Item%205.%20Other%20Information) This section provides additional information, including common stock trading, NAV performance, and expense details - Common stock (PSEC) trades on NASDAQ Global Select Market and historically trades at prices both above and below its net asset value[760](index=760&type=chunk) Stock Price vs. NAV (Third Quarter Ending March 31, 2022) | Metric | NAV | High Stock Price | Low Stock Price | Premium (Discount) of High to NAV | Premium (Discount) of Low to NAV | | :----- | :------ | :--------------- | :-------------- | :-------------------------------- | :------------------------------- | | Value | $10.81 | $8.89 | $7.86 | (17.8)% | (27.3)% | - Stockholders have authorized the company to sell common stock below NAV, and the company is seeking re-authorization for the next 12 months[763](index=763&type=chunk)[765](index=765&type=chunk) - The total annual expenses (after preferred stock dividends) are estimated at **12.03%** of net assets attributable to common stock, assuming certain leverage and dividend payments[769](index=769&type=chunk) [Item 6. Exhibits](index=161&type=section&id=Item%206.%20Exhibits) This section lists all exhibits accompanying the report, including corporate documents and certifications - The exhibits include various corporate governance documents (Articles of Amendment, Bylaws), debt-related documents (Supplemental Indentures for InterNotes®), and certifications (CEO/CFO)[787](index=787&type=chunk)[788](index=788&type=chunk)[790](index=790&type=chunk)[793](index=793&type=chunk)[795](index=795&type=chunk) [SIGNATURES](index=168&type=section&id=SIGNATURES) This section contains the official signatures of the company's principal executive and financial officers - The report was signed by John F. Barry III (Chairman & CEO) and Kristin L. Van Dask (CFO) on May 9, 2022[803](index=803&type=chunk)

Financial Data and Key Metrics Changes - In the December quarter, the company's Net Investment Income (NII) was $85.6 million or $0.22 per common share, exceeding the distribution rate by $0.04 [3] - Basic net income attributable to common stockholders was $246.4 million or $0.63 per common share, with the net asset value (NAV) increasing to $10.60 per common share, up $0.48 or 4.7% from the prior quarter [3][4] - The net debt-to-equity ratio was 51.3%, down 22.8 percentage points from March 2020, but up 3.1 percentage points from the September quarter [4] Business Line Data and Key Metrics Changes - The portfolio at fair value comprised 46.7% secured first-lien debt, 19.5% other senior secured debt, and 10.6% subordinated structured notes, with 76.8% of investments backed by secured debt [17][19] - Originations in December totaled $855 million, with net originations of $411 million after $444 million in repayments [23] - The company held 127 portfolio companies, an increase of three from the prior quarter, with a fair value of $7.0 billion, up $572 million [20] Market Data and Key Metrics Changes - The company's asset concentration in the energy industry was 1.3%, with 0.3% in the hotel, restaurant, and leisure sector, and 0% in retail [21] - Non-accruals as a percentage of total assets stood at approximately 0.4%, down 0.1% from the prior quarter [21] Company Strategy and Development Direction - The company focuses on a diversified investment strategy, including third-party private equity sponsor-related lending, direct non-sponsor lending, and structured credit [14] - The management emphasized maintaining a conservative leverage strategy, with no plans to increase drawn debt leverage beyond the historical target of 0.70 to 0.85 debt-to-equity [6][4] - The company aims to provide low volatility stability to shareholders amidst a volatile macro market backdrop [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in capitalizing on attractive opportunities during the next downturn, expecting an increase in secondary opportunities [15] - The company highlighted its strong liquidity position, with zero debt maturing until July 2022 and a total unfunded eligible commitment of approximately $38 million [33] Other Important Information - The company declared monthly cash common shareholder distributions of $0.06 per share for February, March, and April, marking nearly five years of stable monthly distributions [8][9] - The management team owns approximately 28% of shares outstanding, demonstrating alignment with shareholders [13] Q&A Session Summary - The call concluded without any questions being raised, indicating a smooth presentation of the financial results and strategic outlook [46]

(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 10 East 40th Street, 42nd Floor New York, New York 10016 Maryland 43-2048643 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2021 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Numb ...

Prospect Capital Corporation (NASDAQ:PSEC) Q3 2021 Earnings Conference Call November 8, 2021 11:00 AM ET Company Participants John Barry - Chairman and CEO Grier Eliasek - President and Chief Operating Officer Kristin Van Dask - Chief Financial Officer Conference Call Participants Matt Tjaden - Raymond James Operator Good morning and welcome to the Prospect Capital First Fiscal Quarter Earnings Releasing Conference Call. All participants will be in listen-only mode. [Operator instructions]. After today's pr ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 814-00659 PROSPECT CAPITAL CORPORATION (Exact name of registrant as specified in its charter) Maryland 43-2048643 (State or other jurisdiction of incorporation or organizat ...

Prospect Capital Corporation (NASDAQ:PSEC) Q4 2021 Earnings Conference Call August 25, 2021 11:00 AM ET Company Participants John Barry - Chairman and Chief Executive Officer Grier Eliasek - President and Chief Operating Officer Kristin Van Dask - Chief Financial Officer Conference Call Participants Finian O’Shea - Wells Fargo Robert Dodd - Raymond James Operator Good day and welcome to the Prospect Capital Fourth Quarter Fiscal Earnings Release and Conference Call. [Operator Instructions] Please note this ...