Business Context and Reporting Period
Company: Prospect Capital Corporation
Filing Type: Form 8-K (Current Report)
Date of Report: April 10, 2012
Reporting Period: Third fiscal quarter ended March 31, 2012
Key Financial Metrics
This filing does not report actual revenue, profit, cash flow, margins, debt, or liquidity figures. It specifically addresses an update to the estimated net investment income per share.
- Updated Net Investment Income Per Share Estimate (Q3 2012): $0.50 to $0.55
- Previous Net Investment Income Per Share Estimate (Q3 2012): $0.53 to $0.58
Material Changes
The company reduced its net investment income per share estimate by 3 cents per share. This reduction is primarily attributed to an increase in the average number of shares outstanding resulting from the issuance of 12,000,000 shares of common stock in February 2012.
Guidance, Outlook, and Management Commentary
Management provided an updated estimate for the third fiscal quarter. The filing notes that the information disclosed under Item 7.01 is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be incorporated by reference into any registration statement except as expressly set forth.
Investor Verification Checklist
- Verify the impact of the 12,000,000 shares issued in February 2012 on total share count and dilution.
- Confirm the final actual net investment income per share once the Q3 2012 results are officially reported.
- Review the company's capital raising activities to understand the use of proceeds from the February issuance.