DEFA14A: Prospect Capital Adjourns Annual Meeting for Vote Solicitation

Prospect Capital Corporation announced the adjournment of its annual meeting of stockholders to January 15, 2026, to allow more time for vote solicitation.

Summary

• Prospect Capital Corporation held its adjourned annual meeting of stockholders on January 8, 2026.
• The meeting was further adjourned until January 15, 2026, at 4:00 p.m., Eastern Time, to be held virtually at www.virtualshareholdermeeting.com/PSEC2025.
• The purpose of the adjournment is to afford additional time to solicit stockholder votes for the proposals detailed in the definitive proxy statement filed on September 18, 2025.
• As of September 17, 2025, there were 465,087,009 shares of common stock outstanding.
• Various series of preferred stock were also outstanding as of September 17, 2025, including 26,232,644 shares of 5.50% Series A1, 163,000 shares of 5.50% Series A2, 5,251,157 shares of 5.35% Series A Fixed Rate Cumulative Perpetual, 1,062,493 shares of 5.50% Series M1, 23,857,330 shares of 6.50% Series A3, 2,154,155 shares of 6.50% Series M3, 6,961,866 shares of Floating Rate Series A4, 2,208,807 shares of Floating Rate Series M4, 2,143,366 shares of 7.50% Series A5, and 546,053 shares of 7.50% Series M5.
• Each share of common stock and preferred stock is entitled to one vote on matters presented to their respective holders at the Annual Meeting.

Sentiment

Score: 5

Explanation: The filing is largely administrative, detailing an annual meeting adjournment. While the need for additional vote solicitation could be seen as a minor negative, it does not contain new financial or operational information to significantly shift sentiment.

Negatives

• The need to adjourn the annual meeting to solicit additional votes may indicate a lack of sufficient support for certain proposals among stockholders.

Risks

• The Private Securities Litigation Reform Act of 1995's safe harbor for forward-looking statements does not apply to business development companies, potentially increasing risk associated with any future forward-looking disclosures.
• Failure to secure sufficient stockholder votes for proposals could lead to uncertainty or delays in corporate actions.

Future Outlook

The filing contains a standard disclaimer that forward-looking statements are highly likely to be affected by unknowable future events and conditions, and actual developments and results are highly likely to vary materially. No specific forward-looking guidance or estimates are provided beyond the administrative meeting details.

Management Comments

• The decision to adjourn the Annual Meeting was made to afford additional time to solicit stockholder votes for the proposals.

Industry Context

Prospect Capital Corporation operates as a Business Development Company (BDC), primarily lending to and investing in middle-market privately-held companies. Its investment objective is to generate both current income and long-term capital appreciation. This administrative update regarding an annual meeting adjournment is a routine corporate governance event for publicly traded companies, including BDCs, and does not directly reflect on broader industry trends, though the need for additional vote solicitation could imply specific challenges related to shareholder engagement or contentious proposals within the BDC sector.

Stakeholder Impact

• Shareholders are impacted by the extended timeline for voting on proposals and the need to attend the reconvened virtual meeting.

Next Steps

• The reconvened annual meeting of stockholders will be held on January 15, 2026, at 4:00 p.m. Eastern Time, at www.virtualshareholdermeeting.com/PSEC2025.

Key Dates

Recommendation

The filing is an administrative update regarding the adjournment of the annual meeting to solicit additional votes. It does not contain new financial results, strategic shifts, or material operational updates that would warrant a change in investment recommendation. Investors should await the outcome of the meeting and any subsequent disclosures.

Keywords

Prospect Capital, PSEC, Annual Meeting, Stockholders, Proxy Statement, Business Development Company, BDC, Corporate Governance, Vote Solicitation