v3.26.1
Transactions with Controlled Companies - Energy Solutions Holdings Inc. (Details) - USD ($)
$ in Thousands
 6 Months Ended 9 Months Ended 12 Months Ended
Dec. 31, 2025
Mar. 31, 2026
 [3],[4],[5],[6],[7]
Jun. 30, 2026
Jun. 30, 2025
 [2]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]        
Investments at fair value     $ 6,342,558 [1] $ 6,673,516
Freedom Marine Solutions, LLC | Energy Solutions Holdings Inc.        
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]        
Ownership interest     100.00%  
Yatesville Coal Company, LLC | Energy Solutions Holdings Inc.        
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]        
Ownership interest     100.00%  
Discovery MSO Holdco, LLC. | Energy Solutions Holdings Inc.        
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]        
Ownership interest     4.90%  
Discovery Point Retreat, LLC. | Discovery MSO Holdco, LLC.        
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]        
Ownership interest     100.00%  
Investments at fair value     $ 20,135  
Uncommitted funds     $ 293  
TCSPV Holdings IV, LLC | Energy Solutions Holdings Inc.        
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]        
Ownership interest     4.70%  
Healthcare Venture Partners, LLC | TCSPV Holdings IV, LLC        
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]        
Ownership interest     100.00%  
Investments at fair value     $ 11,570  
BFC-SDR, LLC | Energy Solutions Holdings Inc.        
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]        
Ownership interest     4.80%  
Investments at fair value     $ 19,252  
Safety Solutions Financing, LLC | BFC-SDR, LLC        
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]        
Ownership interest     100.00%  
Subsidiaries | Reportable Legal Entities | Energy Solutions Holdings Inc.        
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]        
Ownership interest 100.00%   100.00%  
Subsidiaries | Reportable Legal Entities | Freedom Marine Solutions, LLC        
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]        
Ownership interest   100.00% 100.00% [8],[9],[10],[11],[12]  
[1] Fair value is determined by or under the direction of our Board of Directors. Unless otherwise indicated by endnote 42 below, all of our investments are valued using significant unobservable inputs. In accordance with ASC 820, such investments are classified as Level 3 within the fair value hierarchy. See Notes 2 and 3 within the accompanying notes to consolidated financial statements for further discussion.
[2] Fair value is determined by or under the direction of our Board of Directors. Unless otherwise indicated by endnote 42 below, all of our investments are valued using significant unobservable inputs. In accordance with ASC 820, such investments are classified as Level 3 within the fair value hierarchy. See Notes 2 and 3 within the accompanying notes to consolidated financial statements for further discussion.
[3] As defined in the 1940 Act, we are deemed to “Control” these portfolio companies because we own more than 25% of the portfolio company’s outstanding voting securities. Transactions during the year ended June 30, 2025, with these controlled investments were as follows:
Controlled CompaniesFair Value at June 30, 2024Gross Additions (Cost)(A)Gross Reductions (Cost)(B)Net unrealized
gains (losses)		Fair Value at June 30, 2025Interest
income		Dividend
income		Other
income		Net realized
gains (losses)
Belnick, LLC (d/b/a The Ubique Group)$— $76,346 $— $(25,180)$51,166 (c)$2,748 $— $33 $— 
CP Energy Services Inc.70,721 15,174 — (536)85,359 12,550 — — — 
CP Energy - Spartan Energy Services, LLC39,485 10,301 — (12,956)36,830 6,013 — — — 
Credit Central Loan Company, LLC79,230 7,949 — (8,443)78,736 8,711 — — — 
Echelon Transportation, LLC66,923 1,260 (1,260)(1,270)65,653 3,343 — — — 
First Tower Finance Company LLC605,928 27,616 (437)127,411 760,518 65,954 — 421 — 
Freedom Marine Solutions, LLC12,651 975 — (1,966)11,660 — — — — 
InterDent, Inc.463,883 32,479 — (157,581)338,781 39,207 — — — 
Kickapoo Ranch Pet Resort4,742 — (800)(25)3,917 160 — — — 
MITY, Inc.85,583 4,265 — 4,570 94,418 9,336 — 107 12 
National Property REIT Corp.1,696,462 99,723 (285,386)(209,827)1,300,972 89,786 — 14,825 — 
Nationwide Loan Company LLC43,162 6,484 — (12,866)36,780 3,793 — — — 
NMMB, Inc.94,265 — — (22,058)72,207 4,039 — — 6,366 
Pacific World Corporation104,663 20,592 (4,875)(12,410)107,970 9,865 — 286 — 
QC Holdings TopCo, LLC— 77,286 — — 77,286 37 — 2,319 — 
R-V Industries, Inc.102,402 10,000 — (6,825)105,577 5,558 8,774 — — 
Universal Turbine Parts, LLC68,067 20,000 (107)14,768 102,728 4,755 — 300 — 
USES Corp.17,989 8,638 (2,300)(9,809)14,518 2,775 — — — 
Valley Electric Company, Inc.316,419 — — 34,872 351,291 12,677 — 666 — 
Total$3,872,575 $419,088 $(295,165)$(300,131)$3,696,367 $281,307 $8,774 $18,957 $6,378 
(A) Gross additions include increases in the cost basis of the investments resulting from new portfolio investments, OID accretion and PIK interest, and any transfer of investments.
(B) Gross reductions include decreases in the cost basis of investments resulting from principal collections related to investments repayments or sales, impairments, and any transfer of investments.
(C) Belnick, LLC (d/b/a The Ubique Group) was transferred to a control investment effective March 31, 2025 (see endnote 48). Income recognized prior to the reclassification date is reflected as income from non-control/non-affiliate investments on our Consolidated Statement of Operations.
[4] Energy Solutions Holdings Inc., a consolidated entity in which we own 100% of the equity, owns 100% of Freedom Marine Solutions, LLC (“Freedom Marine”), which owns Vessel Company, LLC, Vessel Company II, LLC and Vessel Company III, LLC. We report Freedom Marine as a separate controlled company.
[5] Represents non-income producing security that has not paid a dividend or other income in the year preceding the reporting date.
[6] The following shows the composition of our investment portfolio at amortized cost by control designation, investment type and by industry as of June 30, 2025:
Industry(43)1st Lien
Term Loan		2nd Lien
Term Loan		Subordinated Structured NotesUnsecured Debt
Equity (B)
Amortized Cost Total
Control Investments
Aerospace & Defense$55,028 $— $— $— $32,500 $87,528 
Commercial Services & Supplies146,539 — — 7,200 27,349 181,088 
Construction & Engineering83,859 — — — 12,053 95,912 
Consumer Finance552,713 54,997 — — 134,222 741,932 
Diversified Consumer Services700 — — — 2,378 3,078 
Energy Equipment & Services148,663 — — — 175,658 324,321 
Residential Real Estate Investment Trusts (REITs)902,617 — — — 20,030 922,647 
Health Care Providers & Services348,907 — — — 45,118 394,025 
Household Durables84,852 — — — 3,400 88,252 
Machinery47,322 — — — 6,866 54,188 
Marine Transport— — — — 47,117 47,117 
Media29,723 — — — — 29,723 
Personal Care Products114,318 — — — 221,795 336,113 
Trading Companies & Distributors54,739 — — — 55,581 110,320 
Total Control Investments$2,569,980 $54,997 $— $7,200 $784,067 $3,416,244 
Affiliate Investments
Commercial Services & Supplies$— $— $— $— $11,735 $11,735 
 Total Affiliate Investments $— $— $— $— $11,735 $11,735 
Non-Control/Non-Affiliate Investments
Air Freight & Logistics$109,924 $95,000 $— $— $— $204,924 
Automobile Components21,906 67,023 — — 25,802 114,731 
Capital Markets— 21,500 — — — 21,500 
Commercial Services & Supplies201,827 153,366 — — 5,000 360,193 
Distributors277,714 86,309 — — 33,382 397,405 
Diversified Consumer Services101,078 — — — — 101,078 
Diversified Telecommunication Services195,805 59,071 — — — 254,876 
Electrical Equipment61,367 — — — — 61,367 
Financial Services67,830 — — — — 67,830 
Food Products18,560 131,653 — — — 150,213 
Health Care Providers & Services252,272 76,377 — — 45,319 373,968 
Health Care Technology132,153 — — — — 132,153 
Hotels, Restaurants & Leisure28,485 — — — — 28,485 
Household Durables2,406 19,206 — — — 21,612 
Interactive Media & Services75,076 — — — — 75,076 
IT Services34,038 69,188 — — — 103,226 
Leisure Products102,148 — — — 1 102,149 
Machinery47,172 — — — — 47,172 
Media88,749 — — — — 88,749 
Personal Care Products10,689 — — — 2,111 12,800 
Pharmaceuticals125,918 — — — — 125,918 
Professional Services71,752 — — — 13,779 85,531 
Software48,478 132,022 — — — 180,500 
Specialty Retail8,178 — — — 23,898 32,076 
Textiles, Apparel & Luxury Goods67,011 — — — 17,139 84,150 
Structured Finance(A)— — 37,840 — — 37,840 
 Total Non-Control/Non-Affiliate $2,150,536 $910,715 $37,840 $— $166,431 $3,265,522 
Total Portfolio Investment Cost$4,720,516 $965,712 $37,840 $7,200 $962,233 $6,693,501 
The following table shows the composition of our investment portfolio at fair value by control designation, investment type and by industry as of June 30, 2025:
Industry(43)1st Lien
Term Loan		2nd Lien
Term Loan		Subordinated Structured NotesUnsecured Debt
Equity (B)
Fair Value TotalFair Value % of Net Assets Applicable to Common Stock
Control Investments
Aerospace & Defense$55,028$—$—$—$47,700$102,7283.4 %
Commercial Services & Supplies74,281——5,40329,252108,9363.7 %
Construction & Engineering83,859———267,432351,29111.8 %
Consumer Finance540,87154,997——357,452953,32031.8 %
Diversified Consumer Services700———3,2173,9170.1 %
Energy Equipment & Services122,189————122,1894.1 %
Residential Real Estate Investment Trusts(REITs)902,617———398,3551,300,97243.6 %
Health Care Providers & Services338,781————338,78111.4 %
Household Durables51,166————51,1661.7 %
Machinery47,322———58,255105,5773.5 %
Marine Transport————11,66011,6600.4 %
Media29,723———42,48472,2072.4 %
Personal Care Products107,970————107,9703.6 %
Trading Companies & Distributors54,739———10,91465,6532.2 %
Total Control Investments$2,409,246$54,997$— $5,403$1,226,721$3,696,367123.7 %
Fair Value % of Net Assets80.6 %1.8 %— %0.2 %41.1 %123.7 %
Affiliate Investments
Commercial Services & Supplies$—$—$—$—$27,057$27,0570.9 %
Total Affiliate Investments$—$—$—$—$27,057$27,0570.9 %
Fair Value % of Net Assets— %— %— %— %0.9 %0.9 %
Non-Control/Non-Affiliate Investments
Air Freight & Logistics$89,641$95,000$—$—$—$184,6416.1 %
Automobile Components20,69560,965——61282,2722.7 %
Capital Markets—21,500———21,5000.7 %
Commercial Services & Supplies201,870153,500——12,950368,32012.3 %
Distributors255,55512,897——1,255269,7079.1 %
Diversified Consumer Services40,152————40,1521.3 %
Diversified Telecommunication Services191,1627,387———198,5496.6 %
Electrical Equipment61,367————61,3672.1 %
Financial Services67,830————67,8302.3 %
Food Products15,071130,895———145,9664.9 %
Health Care Providers & Services266,43744,720——81,589392,74613.2 %
Health Care Technology130,246————130,2464.3 %
Hotels, Restaurants & Leisure26,249————26,2490.9 %
Household Durables2,40617,934———20,3400.7 %
Interactive Media & Services75,076————75,0762.5 %
IT Services33,87341,746———75,6192.5 %
Leisure Products102,373————102,3733.5 %
Machinery46,337————46,3371.5 %
Media88,405————88,4053.0 %
Personal Care Products10,689———6,69717,3860.6 %
Pharmaceuticals133,576————133,5764.5 %
Professional Services70,716———17,34388,0593.0 %
Software48,490124,265———172,7555.7 %
Industry(43)1st Lien
Term Loan		2nd Lien
Term Loan		Subordinated Structured NotesUnsecured Debt
Equity (B)
Fair Value TotalFair Value % of Net Assets Applicable to Common Stock
Specialty Retail5,914————5,9140.2 %
Textiles, Apparel & Luxury Goods69,402———30,30399,7053.3 %
Structured Finance (A)——35,002——35,0021.1 %
Total Non-Control/Non-Affiliate$2,053,532$710,809$35,002$—$150,749$2,950,09298.7 %
Fair Value % of Net Assets68.7 %23.8 %1.2 %— %5.0 %98.7 %
Total Portfolio$4,462,778$765,806$35,002$5,403$1,404,527$6,673,516223.3 %
Fair Value % of Net Assets149.3 %25.6 %1.2 %0.2 %47.0 %223.3 %
(A) Our SSN investments do not have industry concentrations and as such have been separated in the tables above.

(B)     Equity, unless specifically stated otherwise, includes our investments in preferred stock, common stock, membership interests, net profits interests, net operating income interests, net revenue interests, overriding royalty interests, escrows receivable, and warrants.
[7] The terms “Prospect,” “the Company,” “we,” “us” and “our” mean Prospect Capital Corporation and its subsidiaries unless the context specifically requires otherwise. The securities in which Prospect has invested were acquired in transactions that were exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”). These securities may be resold only in transactions that are exempt from registration under the Securities Act.
[8] As defined in the 1940 Act, we are deemed to “Control” these portfolio companies because we own more than 25% of the portfolio company’s outstanding voting securities. Transactions during the year ended June 30, 2026 with these controlled investments were as follows:
Controlled CompaniesFair Value at June 30, 2025Gross Additions (Cost)(A)Gross Reductions (Cost) (B)Net unrealized
gains (losses)		Fair Value at June 30, 2026Interest
income		Dividend
income		Other
income		Net realized
gains (losses)
Belnick, LLC (d/b/a The Ubique Group)$51,166 $11,505 $— $45,894 $108,565 $11,508 $— $50 $— 
CP Energy Services Inc.85,359 10,853 — (13,389)82,823 13,355 — — — 
CP Energy - Spartan Energy Services, LLC36,830 9,952 — 11,674 58,456 6,898 — — — 
Credit Central Loan Company, LLC78,736 2,714 — (24,913)56,537 6,355 — — — 
Echelon Transportation, LLC65,653 — (110,320)44,667 — 1,297 — — (52,334)
First Tower Finance Company LLC760,518 10,959 (2,867)192,168 960,778 71,975 — 328 — 
Freedom Marine Solutions, LLC11,660 850 — (433)12,077 — — — — 
InterDent, Inc.338,781 35,916 — (34,246)340,451 42,685 — — — 
Kickapoo Ranch Pet Resort3,917 — — (89)3,828 81 — — — 
MITY, Inc.94,418 7,123 — (19,105)82,436 9,590 — 178 19 
National Property REIT Corp.1,300,972 47,564 (73,323)(193,617)1,081,596 60,395 — — — 
Nationwide Loan Company LLC36,780 1,049 — (6,097)31,732 1,049 — — — 
NMMB, Inc.72,207 — — 7,597 79,804 3,820 2,112 — 2,108 
Pacific World Corporation107,970 24,826 — (20,384)112,412 9,775 — 418 — 
QC Holdings TopCo, LLC77,286 6,805 — 16,015 100,106 13,767 — — — 
R-V Industries, Inc.105,577 14,000 — (21,102)98,475 6,333 13,288 — — 
Strategic Chemical Solutions Corp. (f/k/a USES Corp.)14,518 1,405 (66,219)59,671 9,375 2,826 — 6 (66,219)
Universal Turbine Parts, LLC102,728 6,179 (248)15,600 124,259 6,043 6,179 — — 
Valley Electric Company, Inc.351,291 — — (57,437)293,854 12,538 10,924 666 — 
Victor Technology, LLC (C)— 12,950 (300)(5,940)6,710 
(C)
619 — 13 — 
Total$3,696,367 $204,650 $(253,277)$(3,466)$3,644,274 $280,909 $32,503 $1,659 $(116,426)
(A) Gross additions include increases in the cost basis of the investments resulting from new portfolio investments, OID accretion and PIK interest, and any transfer of investments.
(B) Gross reductions include decreases in the cost basis of investments resulting from principal collections related to investments repayments or sales, impairments, and any transfer of investments.
(C) Victor Technology LLC, was transferred to a control investment during the quarter-ended March 31, 2026 (see Note 14). Income recognized prior to the reclassification date is reflected as income from non-control/non-affiliate investments on our Consolidated Statement of Operations.
[9] Equity is held through Energy Solutions Holdings Inc., a consolidated entity in which we own 100% of the equity.
[10] Represents non-income producing security that has not paid a dividend or other income in the year preceding the reporting date.
[11] The following shows the composition of our investment portfolio at amortized cost by control designation, investment type and by industry as of June 30, 2026:
Industry1st Lien
Term Loan		2nd Lien
Term Loan		Subordinated Structured NotesUnsecured Debt
Equity (B)
Amortized Cost Total
Control Investments
Aerospace & Defense$54,780 $— $— $— $38,679 $93,459 
Commercial Services & Supplies87,424 — — 7,200 28,773 123,397 
Construction & Engineering83,859 — — — 12,053 95,912 
Consumer Finance564,568 61,802 — — 134,222 760,592 
Distributors10,650 — — — 2,000 12,650 
Diversified Consumer Services700 — — — 2,378 3,078 
Energy Equipment & Services169,468 — — — 175,658 345,126 
Residential Real Estate Investment Trusts (REITs)876,859 — — — 20,030 896,889 
Health Care Providers & Services384,823 — — — 45,118 429,941 
Household Durables96,357 — — — 3,400 99,757 
Machinery61,322 — — — 6,866 68,188 
Marine Transport— — — — 47,967 47,967 
Media29,723 — — — — 29,723 
Online Lending— — — — — — 
Personal Care Products122,445 — — — 238,494 360,939 
Trading Companies & Distributors— — — — — — 
Total Control Investments$2,542,978 $61,802 $— $7,200 $755,638 $3,367,618 
Affiliate Investments
Commercial Services & Supplies$— $— $— $— $12,835 $12,835 
Textiles, Apparel & Luxury Goods— — — — — — 
 Total Affiliate Investments $— $— $— $— $12,835 $12,835 
Non-Control/Non-Affiliate Investments
Air Freight & Logistics$121,447 $95,000 $— $— $— $216,447 
Automobile Components33,512 67,000 — — 25,802 126,314 
Commercial Services & Supplies147,365 153,400 — — 5,000 305,765 
Construction & Engineering19,252 — — — 3,343 22,595 
Distributors310,501 8,351 — — 59,328 378,180 
Diversified Consumer Services103,214 — — — — 103,214 
Diversified Telecommunication Services186,687 59,071 — — — 245,758 
Financial Services77,832 — — — — 77,832 
Food Products18,457 69,063 — — — 87,520 
Health Care Providers & Services207,226 85,129 — — 54,621 346,976 
Health Care Technology126,176 — — — — 126,176 
Hotels, Restaurants & Leisure30,681 — — — — 30,681 
Interactive Media & Services87,850 — — — — 87,850 
IT Services51,818 19,690 — — 2,500 74,008 
Leisure Products70,188 — — — 1 70,189 
Machinery13,608 — — — — 13,608 
Media86,205 — — — — 86,205 
Personal Care Products10,577 — — — 2,111 12,688 
Pharmaceuticals122,789 — — — — 122,789 
Professional Services80,377 — — — 13,779 94,156 
Software47,982 136,006 — — — 183,988 
Specialty Retail10,791 — — — 23,898 34,689 
Textiles, Apparel & Luxury Goods66,071 — — — 19,109 85,180 
Structured Finance(A)— — 2,108 — — 2,108 
 Total Non-Control/Non-Affiliate $2,030,606 $692,710 $2,108 $— $209,492 $2,934,916 
Total Portfolio Investment Cost$4,573,584 $754,512 $2,108 $7,200 $977,965 $6,315,369 
The following table shows the composition of our investment portfolio at fair value by control designation, investment type and by industry as of June 30, 2026:
Industry1st Lien
Term Loan		2nd Lien
Term Loan		Subordinated Structured NotesUnsecured Debt
Equity (B)
Fair Value TotalFair Value % of Net Assets Applicable to Common Stock
Control Investments
Aerospace & Defense$54,780$—$—$—$69,479$124,2594.2 %
Commercial Services & Supplies74,837——5,19511,77991,8113.2 %
Construction & Engineering83,859———209,995293,85410.1 %
Consumer Finance527,81361,802——559,5381,149,15339.2 %
Distributors6,710————6,7100.2 %
Diversified Consumer Services700———3,1283,8280.1 %
Energy Equipment & Services141,279————141,2794.8 %
Residential Real Estate Investment Trusts (REITs)876,859———204,7371,081,59636.9 %
Health Care Providers & Services340,451————340,45111.7 %
Household Durables96,357———12,208108,5653.7 %
Machinery61,322———37,15398,4753.4 %
Marine Transport————12,07712,0770.4 %
Media29,723———50,08179,8042.7 %
Personal Care Products112,412————112,4123.8 %
Trading Companies & Distributors——————— %
Structured Finance(A)——— ———— %
Total Control Investments$2,407,102$61,802$— $5,195$1,170,175$3,644,274124.4 %
Fair Value % of Net Assets82.1 %2.1 %— %0.2 %40.0 %124.4 %
Affiliate Investments
Commercial Services & Supplies$—$—$—$—$30,447$30,4471.0 %
Textiles, Apparel & Luxury Goods——————— %
Total Affiliate Investments$—$—$—$—$30,447$30,4471.0 %
Fair Value % of Net Assets— %— %— %— %1.0 %1.0 %
Non-Control/Non-Affiliate Investments
Air Freight & Logistics$72,633$95,000$—$—$—$167,6335.7 %
Automobile Components1,19228,578——43930,2091.0 %
Commercial Services & Supplies147,877153,500——22,257323,63411.2 %
Construction & Engineering
19,252———3,34322,5950.8 %
Distributors316,7077,416——23,796347,91911.9 %
Diversified Consumer Services9,611————9,6110.3 %
Diversified Telecommunication Services182,0068,429———190,4356.5 %
Financial Services77,832————77,8322.6 %
Food Products14,87769,380———84,2572.9 %
Health Care Providers & Services219,88247,487——150,868418,23714.3 %
Health Care Technology123,898————123,8984.3 %
Hotels, Restaurants & Leisure28,097————28,0971.0 %
Household Durables——————— %
Interactive Media & Services87,850————87,8503.0 %
IT Services49,6787,126——76957,5732.0 %
Leisure Products70,188————70,1882.4 %
Machinery13,608————13,6080.5 %
Media84,908————84,9082.9 %
Personal Care Products10,577———1,02811,6050.4 %
Pharmaceuticals141,316————141,3164.8 %
Professional Services79,581———12,59192,1723.1 %
Software47,982100,490———148,4725.0 %
Industry1st Lien
Term Loan		2nd Lien
Term Loan		Subordinated Structured NotesUnsecured Debt
Equity (B)
Fair Value TotalFair Value % of Net Assets Applicable to Common Stock
Specialty Retail7,829————7,8290.3 %
Textiles, Apparel & Luxury Goods74,451———50,714125,1654.2 %
Structured Finance (A)——2,794——2,7940.1 %
Total Non-Control/Non-Affiliate$1,881,832$517,406$2,794$—$265,805$2,667,83791.1 %
Fair Value % of Net Assets64.3 %17.7 %0.1 %— %9.1 %91.1 %
Total Portfolio$4,288,934$579,208$2,794$5,195$1,466,427$6,342,558216.5 %
Fair Value % of Net Assets146.4 %19.8 %0.1 %0.2 %50.1 %216.5 %
(A) Our SSN investments do not have industry concentrations and as such have been separated in the tables above.

(B)     Equity, unless specifically stated otherwise, includes our investments in preferred stock, common stock, membership interests, net profits interests, net operating income interests, net revenue interests, overriding royalty interests, escrows receivable, and warrants.
[12] The terms “Prospect,” “the Company,” “we,” “us” and “our” mean Prospect Capital Corporation and its subsidiaries unless the context specifically requires otherwise. The securities in which Prospect has invested were acquired in transactions that were exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”). These securities may be resold only in transactions that are exempt from registration under the Securities Act.