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Prospect Capital Corporation Message Board

  • criminalmindscraft criminalmindscraft Feb 11, 2013 11:57 PM Flag

    Sales under the ATM program

    Guys please stop with the nonsense of some secret deal with Key Bank, LOL. PLEASE!!!

    During the period from January 7, 2013 to February 5, 2013, we sold 10,248,051 shares of our common stock at an average price of $11.25
    per share, and raised $115.3 million of gross proceeds, under our at-the-market offering program (the "ATM Program"). Net proceeds were
    $114.0 million net of commissions to the broker-dealer on shares sold and offering costs.

    On December 21, 2012, we entered into a third ATM Program with KeyBanc through which we could sell, by means of at-the-market offerings
    from time to time, of up to 17,500,000 shares of our common stock. (See Recent Developments.) No sales were made under this program prior to
    December 31, 2012.

    On June 1, 2012, we entered into an ATM program with KeyBanc through which we could sell, by means of at-the-market offerings from time to
    time, of up to 9,500,000 shares of our common stock. During the period from July 2, 2012 to July 12, 2012, we sold 2,247,275 shares of our common
    stock at an average price of $11.59 per share, and raised $26,040 of gross proceeds, under the ATM Program. Net proceeds were $25,779 net of
    commissions to KeyBanc on shares sold.

    september 10, 2012, we entered into a second ATM Program with KeyBanc through which we could sell, by means of at-the-market
    offerings from time to time, of up to 9,750,000 shares of our common stock. During the period from October 1, 2012 to October 9, 2012, we sold
    1,245,655 shares of our common stock at an average price of $11.53 per share, and raised $14,361 of gross proceeds, under this program. Net
    proceeds were $14,217 net of commissions to the broker-dealer on shares sold and offering costs.

    On June 1, 2012, we and KeyBanc Capital Markets Inc. entered into an equity distribution agreement relating to sales by us through KeyBanc
    Capital Markets, by means of at-the-market offerings from time to time, of up to 9,500,000 shares of our common stock (the "ATM Program").
    Through the ATM Program, we anticipate generating an aggregate of approximately $100,000 in net proceeds after deducting the estimated
    commissions and estimated offering expenses. We expect to use proceeds from the ATM Program initially to maintain balance sheet liquidity,
    involving repayment of all or a portion of the amounts outstanding under the our credit facility, if any, investment in high quality short-term debt
    instruments or a combination thereof, and thereafter to make long-term investments in accordance with our investment objective. During the period
    from June 7, 2012 to June 30, 2012, we sold 2,952,489 shares of our common stock at an average price of $11.22 per share, and raised $33,130 of gross
    proceeds, under the ATM Program. Net proceeds were $32,799 after 1% commission to the broker-dealer on shares sold.

    Not sure why this would stir any LONG TERM holder up and make them sell the stock? It is a vital part of the business model.

    Sentiment: Strong Buy

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