PROSPECT CAPITAL CORP 8-K

What Happened Prospect Capital Corporation (PSEC) filed an 8-K reporting an amendment, dated February 10, 2026, to its Amended and Restated Dealer Manager Agreement (originally dated February 25, 2021) with Preferred Capital Securities, LLC. The amendment increases the size of the company's preferred stock offering and updates which series are being offered. The 7.50% Series A5 and 7.50% Series M5 Preferred Stock will be offered pursuant to a prospectus dated February 10, 2026.

Key Details

• Amendment date: February 10, 2026; Dealer Manager: Preferred Capital Securities, LLC.
• Offering size increased from $2,250,000,000 to $2,646,457,550 in aggregate liquidation preference of Preferred Stock.
• Up to 90,000,000 shares (par $0.001) may be offered; aggregate shares across all series under the amended agreement capped at 105,858,302 shares.
• Company will no longer offer earlier series (5.50% Series A1/M1/M2, 6.50% Series A3/M3, Floating Rate Series A4/M4) and is offering 7.50% Series A5 and M5 under the prospectus dated February 10, 2026.
• Preferred Stock is registered on Form N-2 (File No. 333-293349); Venable LLP provided an opinion on validity of the shares (Exhibit 5.1).

Why It Matters This amendment raises the cap on Prospect Capital’s preferred stock offering, enabling the company to issue more preferred shares and thereby raise additional capital. For investors, that means potential dilution pressure on common equity and an increase in the company’s preferred dividends/obligations—preferred shares have liquidation preference ($25.00 per share) and, for the series being offered, a stated 7.50% rate. The change is a material financing update but does not itself report financial results or operational changes.