NEW YORK, NY — (MARKET WIRE) — 04/21/09 — Prospect Capital Corporation (NASDAQ: PSEC)(“Prospect”) today announced updated guidance for the quarter ending March31, 2009.
Prospect’s Board of Directors determines the fair value of its portfolioinvestments on a quarterly basis in connection with the preparation ofquarterly financial statements and based on input from an independentvaluation firm, our Investment Advisor and the audit committee of our Boardof Directors. Although our Board has not completed this determination as ofour March 31, 2009 quarter end, we believe it likely our NAV per share asof that date was within a range of approximately $14.05 to $14.30,reflecting unrealized gains and losses in our portfolio and dilution ofapproximately $0.31 per share attributable to our March 19, 2009 offeringof 1,500,000 shares at $8.20 per share.
On March 24, 2009, Prospect revised its guidance for net investment incomefor the quarter ending March 31, 2009, to a range of $0.38 to $0.41 pershare for the quarter.
ABOUT PROSPECT CAPITAL CORPORATION
Prospect Capital Corporation (www.prospectstreet.com/) is a closed-endinvestment company that lends to and invests in private and microcap publicbusinesses. Our investment objective is to generate both current income andlong-term capital appreciation through debt and equity investments.
We have elected to be treated as a business development company under theInvestment Company Act of 1940 (“1940 Act”). We are required to comply witha series of regulatory requirements under the 1940 Act as well asapplicable NASDAQ, federal and state rules and regulations. We have electedto be treated as a regulated investment company under the Internal RevenueCode of 1986. Failure to comply with any of the laws and regulations thatapply to us could have an adverse effect on us and our shareholders.
This press release contains forward-looking statements within the meaningof the Private Securities Litigation Reform Act of 1995, whose safe harborfor forward-looking statements does not apply to business developmentcompanies. Any such statements, other than statements of historical fact,are highly likely to be affected by other unknowable future events andconditions, including elements of the future that are or are not under ourcontrol, and that we may or may not have considered; accordingly, suchstatements cannot be guarantees or assurances of any aspect of futureperformance. Actual developments and results are highly likely to varymaterially from these estimates and projections of the future. Suchstatements speak only as of the time when made, and we undertake noobligation to update any such statement now or in the future.
For additional information, contact:Grier EliasekPresident and Chief Operating OfficerEmail Contact(212) 448-9577