Prospect Capital Announces up to $100M Share Repurchase Plan

Prospect Capital Corporation PSEC announced today that it has adopted a plan for the purpose of repurchasing up to $100,000,000 of its common stock. Prospect's Board has authorized the repurchase plan because it believes the recent market turmoil may cause Prospect's common stock to be undervalued from time to time. Under this plan, Prospect may in its discretion repurchase up to $100,000,000 of its common stock at prices below its net asset value as reported in its then most recently published financial statements.