Seeking Alpha

Prospect adds another lender and $20M to credit facility

  • When the going gets tough, the tough boost their credit lines. Prospect Capital (PSEC) announces an increase in total commitments to its 5-year revolving credit facility of $20M to $857.5M.
  • An accordion feature allows Prospect to raise the size to $1B, a target the company expects to reach at some point.
  • Source: Press Release
Comments (15)
  • mahgni
    , contributor
    Comments (30) | Send Message
     
    O.K.. In the interest of fair play, those who know me from other posts should know that I sold my 66,000 shares of PSEC a couple of days before the X-date this month because I think the stock will drop far more than a months dividend in the coming weeks as these law-firms "investigations" turn into actual class action lawsuits against the company.

     

    Don't get me wrong. I will buy even more PSEC stock at far below my original investment once the SEC and Russell questions are resolved ... because I have absolute faith in the outstanding management team PSEC provides us and I'm just greedy enough to seek a huge gain from all this turmoil.

     

    My purpose in posting here is twofold. (1) To disclose my sell action to anyone who has been influenced by my previous posts supporting the company. and (2) Now that I have a loss (temporary) from the premature actions of these law firms, I'd like to know if enough people who have lost money by selling at this time would be interested in exploring our own class action suit against those law firms once PSEC has resolved SEC and Russell challengesm and defeats those suits.

     

    I believe our losses stem from short's propaganda on these boards coupled with these ambulance chasers adding fuel to the fire with their class actions, and I will be seeking a firm to follow up on that belief if it turns out to be correct.

     

    I think there is money to be made from this crazy situation, plus a little pay-back from the buzzards for a change!
    30 May 2014, 09:37 PM Reply Like
  • Interesting Times
    , contributor
    Comments (12948) | Send Message
     
    The only winners in a class action suit are the lawyers.

     

    I am long PSEC and will continue to add on a monthly basis while the dividend buys more shares.

     

    Personally I could care less about timing the purchases , and you had no influence on my decision....

     

    Good Luck !
    31 May 2014, 05:17 PM Reply Like
  • William Packer
    , contributor
    Comments (636) | Send Message
     
    yeah, waiting for the stock to drop down to $9.00 before loading up.
    31 May 2014, 09:41 PM Reply Like
  • timsabin
    , contributor
    Comments (12) | Send Message
     
    I watch the news all the time. I have found nothing to dissuade me from holding PSEC stock. I have made mistakes trying to time things before, and have failed. I don't want this to happen with PSEC. I'll keep holding, and will collect the dividends monthly. I expect that the stock price at the end of the year will be in the $11-$12 range, as stated by analysts.
    3 Jun 2014, 12:23 PM Reply Like
  • Dividends#1
    , contributor
    Comments (3128) | Send Message
     
    I just bought at $9.57, about an hour ago.
    3 Jun 2014, 12:50 PM Reply Like
  • Rob1492
    , contributor
    Comments (467) | Send Message
     
    so are you still out?
    11 Jun 2014, 10:13 AM Reply Like
  • thales23
    , contributor
    Comments (7) | Send Message
     
    Good.Long.
    31 May 2014, 06:12 AM Reply Like
  • Matthew Davis
    , contributor
    Comments (4350) | Send Message
     
    My drip shares will just add more than I even thought at lower levels. My divi's will still out pay my losses so far.
    3 Jun 2014, 12:41 PM Reply Like
  • Rob1492
    , contributor
    Comments (467) | Send Message
     
    Dividends... with you.. bought more...
    3 Jun 2014, 01:20 PM Reply Like
  • Dividends#1
    , contributor
    Comments (3128) | Send Message
     
    Hi Rob,

     

    We are reaping good news.

     

    Thanks for having my back on the other thread.
    11 Jun 2014, 10:39 AM Reply Like
  • Rob1492
    , contributor
    Comments (467) | Send Message
     
    Been a great year for you Dividends! I was too early on PSEC ! Still not back to my basis but still all good news!
    11 Jun 2014, 01:38 PM Reply Like
  • a.e. smith
    , contributor
    Comments (17) | Send Message
     
    keeping my shares too...
    3 Jun 2014, 02:22 PM Reply Like
  • a.e. smith
    , contributor
    Comments (17) | Send Message
     
    Same as you guys...will keep my 20000 shares and let divies keep piling up.
    3 Jun 2014, 02:23 PM Reply Like
  • Matthew Davis
    , contributor
    Comments (4350) | Send Message
     
    Great time to drip catch even more in that snowball effect.
    4 Jun 2014, 12:20 AM Reply Like
  • Javelina
    , contributor
    Comments (208) | Send Message
     
    I am confident this gale will be over VERY soon and MOST investors will wish they had bought a lot more at these prices. As I raise more capital, I am buying all I can afford. I HOLD 45k shares at this time.
    6 Jun 2014, 07:00 AM Reply Like
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