PROSPECT CAPITAL CORP 8-K

What Happened
Prospect Capital Corp (PSEC) filed an 8-K reporting that at a virtual Special Meeting of Stockholders held July 7, 2026 (5:00 p.m. ET), shareholders approved a proposal to renew the company's authorization to sell common stock at prices below its then-current net asset value (NAV) for the next 12 months, subject to certain conditions. The record date was March 11, 2026, and 556,508,215 shares were eligible to vote (including 134,072,811 affiliated shares). Final vote totals were: For 277,640,199; Against 63,873,735; Abstained 7,460,523. Adjusted to exclude affiliated shares, the vote was For 145,994,733; Against 63,873,735; Abstained 7,460,523.

Key Details

• Special Meeting date/time: July 7, 2026 at 5:00 p.m. Eastern (virtual).
• Record date and eligible shares: March 11, 2026; 556,508,215 shares (134,072,811 affiliated).
• Vote result (final): For 277,640,199; Against 63,873,735; Abstained 7,460,523. Proposal approved.
• Authorization specifics: Renewed ability to sell common stock below NAV during the next 12 months, with any sale on a given date capped at 25% of outstanding common stock immediately prior to such sale.

Why It Matters
This approval gives Prospect Capital’s board and management the flexibility to raise capital by selling shares at a discount to NAV for up to a year, subject to the stated limits. For investors, such offerings can lead to dilution of existing shares and may put downward pressure on NAV per share or market price if and when discounted issuances occur. Shareholders should watch for any subsequent filings (prospectuses or transaction notices) that disclose the terms and timing of future share offerings.