PROSPECT CAPITAL CORP

Prospect Capital Corporation is a closed-end investment company operating as a business development company. It primarily lends to and invests in middle-market privately held enterprises. Its core activities involve senior and secured first lien loans, selective second lien debt, and equity-related securities such as convertible debt, preferred stock, common equity, and warrants with capital appreciation potential. Additionally, it allocates capital to senior and secured debt and controlling equity stakes in real estate investment trusts. The firm serves private middle-market companies requiring financing for acquisitions, growth, refinancings, recapitalizations, or capital expenditures, engaging with private equity sponsors, founders, and management teams.

The company operates without direct employees, depending on an external investment adviser and administrator to execute daily operations and monitor portfolio investments. Its portfolio spans 31 distinct industry categories, with primary exposure concentrated across the United States alongside selective allowances for international and public investments. The principal executive offices of its investment adviser are situated in West Palm Beach, Florida.

Summary of the business section of Prospect Capital's latest annual report, written by StockData.