Might be the best thing that ever happened to PSEC...
Have to sit on their hands for awhile. Now 87 cents below their NAV.....not likely to sell new shares. SEC looking over their shoulder.....might be a little more conservative on the deal making. Would be good to slow down for a bit and digest all those shares that have been offered in the last year.
Just my opinion as a spectator, not a holder.
I agree that slowing down the growth could be a good thing -- it forces them to look hard at their existing portfolio and make adjustments to get the best risk/reward returns. I'm certain that if they look hard, they could find things (e.g. loans or equity positions) that they'd be better off selling. Further, for the quality loans, it might be a good time to look into securitizing. Either of these would free up cash for any good deals that come along.
On the other hand, not being able to sell stock will make things a little more difficult. We'll find out soon enough.
From what I have read much of their income-22-25%- is derived from origination fees. New business is required to feed the divvy. Apparently slowing down is almost impossible if income is to be maintained.