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Globe and Mail
01-07-2025
- Business
- Globe and Mail
Prospect Capital Corporation Acquires QC Holdings, Inc.
NEW YORK, July 01, 2025 (GLOBE NEWSWIRE) -- Prospect Capital Corporation ('Prospect') (NASDAQ: PSEC) has announced the closing of the acquisition of QC Holdings, Inc. ('QC Holdings'), a provider of consumer credit, by Prospect on June 30, 2025. In accordance with the previously announced definitive merger agreement, Prospect has acquired QC Holdings in an all-cash transaction for a total enterprise value of approximately $115 million. The common stock for QC Holdings is no longer listed on a stock exchange. QC Holdings, as a portfolio company of Prospect, will remain headquartered in Lenexa, Kansas. The QC Holdings management team members, led by Darrin Andersen, President and Chief Executive Officer, will continue to lead QC Holdings post-acquisition in their current roles. QC Holdings has been advised that stockholders of record on June 30, 2025 (i) with certificated shares will be mailed a letter of transmittal for submission of stock certificates within 3-5 business days and (ii) holding shares through direct registration with Computershare, the stock transfer agent for QC Holdings, should receive payment of the merger price per share held by each such stockholder from Computershare, as Paying Agent, within 3-5 business days. Investors holding shares through brokerage accounts should contact their broker regarding timing of receipt of payment. Blank Rome LLP served as legal advisor to Prospect. Stinson LLP served as legal advisor to QC Holdings. About Prospect Capital Corporation Prospect is a business development company lending to and investing in private businesses. Prospect's investment objective is to generate both current income and long-term capital appreciation through debt and equity investments. Prospect has elected to be treated as a business development company under the Investment Company Act of 1940. Prospect has elected to be treated as a regulated investment company under the Internal Revenue Code of 1986. About QC Holdings, Inc. QC Holdings specializes in consumer-focused alternative financial services and credit solutions and, for more than 40 years, has been providing credit options for people underserved by traditional banking institutions. Its core products include a variety of short-term loans and financial services. In the United States, QC Holdings operates as 'LendNation' through more than 325 retail locations in 12 states. In Canada, QC Holdings offers loans through 19 retail locations and online. For further information, contact:
Business Insider
26-06-2025
- Business
- Business Insider
Prospect Capital CEO buys $1.01M in common stock
In a regulatory filing, Prospect Capital (PSEC) CEO John Barry disclosed the purchase of 319,000 common shares of the company on June 23 at a price of $3.16 per share. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Business Insider
25-06-2025
- Business
- Business Insider
Prospect Capital CEO Barry buys 623,000 common shares
In a regulatory filing, Prospect Capital (PSEC) CEO John Barry disclosed the purchase of 623,000 common shares of the company on June 20 at a price of $3.1907 per share. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
