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Prospect Capital (PSEC) takes advantage of its nice run, announcing a secondary offering of 21M...

Prospect Capital (PSEC) takes advantage of its nice run, announcing a secondary offering of 21M shares, and granting the underwriter an option for up to an additional 3.15M. Shares -5% AH. (PR)
Comments (10)
  • Brian Bobbitt
    , contributor
    Comments (1890) | Send Message
     
    Watch your back..
    10 Jul 2012, 08:41 PM Reply Like
  • peter doyle
    , contributor
    Comments (20) | Send Message
     
    Thanks for the dilution.
    10 Jul 2012, 11:11 PM Reply Like
  • U Mass baseball
    , contributor
    Comments (25) | Send Message
     
    Just when you thought you had a winner, they add water to the orange juice.
    11 Jul 2012, 01:05 AM Reply Like
  • Jimmy Grisham
    , contributor
    Comments (34) | Send Message
     
    A prime example of dirty management. They couldn't get capital for less than 11% ??? and they just HAD to have the money ??? No amount of management's lies is likely to cover this up... Something really corrupt and rotten here.
    11 Jul 2012, 01:21 AM Reply Like
  • coolsoupy
    , contributor
    Comments (217) | Send Message
     
    Jimmy;

     

    Debt is borrowing money! Stock issuance is dilution!

     

    They use the money to make more money without going in debt!

     

    Did you understand what you were buying?
    11 Jul 2012, 02:53 PM Reply Like
  • Jimmy Grisham
    , contributor
    Comments (34) | Send Message
     
    Soupy, I certainly don't need a salesman to explain the stock market or corporate shenanigans to me. You obviously have no idea what I was talking about so I will leave you to your naive rose-colored views.
    12 Jul 2012, 10:13 AM Reply Like
  • coolsoupy
    , contributor
    Comments (217) | Send Message
     
    Stock issuance costs 11%?
    You really need to visit a social ste!
    12 Jul 2012, 10:28 AM Reply Like
  • Color Me Skeptical
    , contributor
    Comments (5) | Send Message
     
    Jimmy, I just started following this company and don't understand where your 11% figure comes from. Is this from some past management statement about their cost of capital?
    12 Jul 2012, 01:48 PM Reply Like
  • coolsoupy
    , contributor
    Comments (217) | Send Message
     
    Jeesh guys! They wouldn't raise capital if they didn't think they could put it to work?
    Management has been stellar and you don't trust them because they want to grow the company?

     

    Put your money in Treasuries and watch it disappear - then you can see real dilution caused by Helicopter Ben and Tax cheat Timmy!
    11 Jul 2012, 08:29 AM Reply Like
  • ngru
    , contributor
    Comments (5) | Send Message
     
    Good time to add PSEC to your holdings. I expect to recover in 3-6months with div. each month. winner/winner.
    11 Jul 2012, 03:01 PM Reply Like
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