Prospect Capital Corporation Announces Launch Of Cash Tender Offer For All Of Its 5,882,351 Shares Of Outstanding 5.35% Series A Fixed Rate Cumulative Perpetual Preferred Stock
Portfolio Pulse from Benzinga Newsdesk
Prospect Capital Corporation has announced a cash tender offer for all of its 5,882,351 outstanding shares of 5.35% Series A Fixed Rate Cumulative Perpetual Preferred Stock. The company is looking to buy back these shares from the market.
October 30, 2023 | 9:09 pm
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Prospect Capital Corporation's cash tender offer for its 5.35% Series A Preferred Stock could potentially lead to a short-term increase in the company's stock price due to the reduced number of shares in circulation.
A cash tender offer often leads to a short-term increase in the company's stock price. This is because the company is buying back its shares from the market, reducing the number of shares in circulation. This can increase the demand for the remaining shares, leading to a price increase. However, the long-term impact will depend on the company's future performance and market conditions.
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