Filed Pursuant to Rule 497(a)(1)
File No. 333-143819
Rule 482ad
Prospect
Capital Corporation Announces Commencement of Public Offering of 3,000,000 Shares of
Common Stock
NEW YORK,
NY – (MARKET WIRE) – April 21, 2009 – Prospect Capital Corporation
(NASDAQ: PSEC, “Prospect”) today announced the commencement
of a public offering of 3,000,000 shares of its common stock, par value $0.001 per share. Prospect also plans to grant the
underwriters a 30-day option to purchase up to an additional 450,000 shares of its common stock
to cover over-allotments, if any.
Prospect expects to use the net proceeds of this offering to maintain balance sheet liquidity,
involving repayment of all or a portion of amounts outstanding under its credit facility,
investments in high quality short-term debt instruments or a combination thereof, and thereafter to
make long-term investments in accordance with its investment objective. Fox-Pitt Kelton Cochran
Coronia Waller and SunTrust Robinson Humphrey are the joint bookrunning managers for the offering.
The offering will be made under a shelf registration statement filed under the Securities Act of
1933, as amended, and previously declared effective by the Securities and Exchange Commission. The
offering of common shares of Prospect is being made solely by means of a prospectus supplement.
This press release does not constitute an offer to sell or the solicitation of an offer to buy nor
will there be any sale of the shares referred to in this press release in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of such state or jurisdiction. A copy of the prospectus for
the offering may be obtained from: Fox-Pitt Kelton Cochran Caronia Waller, 420 Fifth Ave., 5th
Floor, New York, NY 10018, Fax: (212)-849-0582, Email:
prospectus@fpk.com; and SunTrust Robinson Humphrey, 303 Peachtree St.
NE, Atlanta, GA 30308 Fax: (404) 926-5464, Email: prospectus@rhco.com.
Investors are advised to carefully consider the investment objectives, risks and charges and
expenses of Prospect before investing. The prospectus supplement and prospectus contain this and
other information about Prospect and should be read carefully before investing.
ABOUT PROSPECT CAPITAL CORPORATION
Prospect Capital Corporation (www.prospectstreet.com) is a closed-end investment company that lends
to and invests in private and microcap public businesses. Prospect Capital’s investment objective
is to generate both current income and capital appreciation through debt and equity investments.
Prospect Capital has elected to be treated as a business development company under the Investment
Company Act of 1940 (“1940 Act”). We are required to comply with a series of regulatory
requirements under the 1940 Act as well as applicable NASDAQ, federal and state laws and
regulations. We have elected to be treated as a regulated investment company under the Internal
Revenue Code of 1986. Failure to comply with any of the laws and regulations that apply to Prospect
Capital could have a material adverse effect on Prospect Capital and its shareholders.
This press release contains forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Any such statements, other than statements of historical fact, are
likely to be affected by other unknowable future events and conditions, including elements of the
future that are or are not under the Company’s control, and that the Company may or may not have
considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future
performance. Actual developments and results are highly likely to vary materially from these
estimates and projections of the future. Such statements speak only as of the time when made, and
the Company undertakes no obligation to update any such statement now or in the future.
Please send investment proposals to:
Grier Eliasek, President and Chief Operating Officer
grier@prospectstreet.com
(212) 448-9577