Filed under: Raising money, Private equity industry
Prospect Capital Corporation (NASDAQ: PSEC) has announced it will raise funds in a public offering of 3 million shares of common stock, and Prospect will grant the underwriters a 30-day option to buy up to an additional 450,000 shares of its common stock to cover over-allotments from underwriters.
The private equity and mezzanine finance company said that it anticipates to use the net proceeds from this secondary offering to repay outstanding debt, to fund investments in portfolio companies, and for general corporate purposes.
Citi and Wachovia are the lead underwriters, and Oppenheimer, and RBC Capital Markets are listed the co-managers of this offering.
Continue reading at 247WallSt.com to hear about the implications and how this compares to the overall size of the company.
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