Prospect Capital adjourns special meeting to June 23, 2026
Prospect Capital Corporation adjourned its special meeting to June 23, 2026, to gather more votes on proposals outlined in its March 11, 2026 proxy statement. The company reported over 486 million common shares and various preferred stock series outstanding as of the record date.
*this image is generated using AI for illustrative purposes only.
Prospect Capital Corporation has adjourned its special meeting of stockholders to June 23, 2026, at 5:00 p.m., Eastern Time. The adjournment aims to afford additional time to solicit stockholder votes for the proposal found in the company's definitive proxy statement. The meeting was initially held on June 9, 2026, and will reconvene virtually at www.virtualshareholdermeeting.com/PSEC2026SM .
The proposals considered at the special meeting are detailed in the company's definitive proxy statement, which was filed with the Securities and Exchange Commission on March 11, 2026. As of the record date, Prospect Capital reported significant outstanding shares across its common and preferred stock classes.
The following table details the outstanding shares as of March 11, 2026:
| Stock Class | Outstanding Shares |
|---|---|
| Common Stock | 486,484,945 |
| 5.50% Series A1 Preferred Stock | 25,394,532 |
| 5.50% Series A2 Preferred Stock | 163,000 |
| 5.35% Series A Fixed Rate Cumulative Perpetual Preferred Stock | 5,251,157 |
| 5.50% Series M1 Preferred Stock | 908,259 |
| 6.50% Series A3 Preferred Stock | 23,376,070 |
| 6.50% Series M3 Preferred Stock | 1,794,312 |
| Floating Rate Series A4 Preferred Stock | 6,920,261 |
| Floating Rate Series M4 Preferred Stock | 1,995,546 |
| 7.50% Series A5 Preferred Stock | 3,341,380 |
| 7.50% Series M5 Preferred Stock | 878,753 |
Each share of common or preferred stock is entitled to one vote. Prospect Capital is a business development company that primarily lends to and invests in middle market privately-held companies. The company has elected to be treated as a business development company under the Investment Company Act of 1940 and as a regulated investment company under the Internal Revenue Code of 1986. Its investment objective is to generate both current income and long-term capital appreciation.
What specific proposals are being voted on that require additional time for solicitation?
How might the outcome of the special meeting impact Prospect Capital's capital allocation strategy?
What market conditions or investor concerns could be contributing to the need for an extended voting period?
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