Friday, November 14, 2008 11:04:09 AM
COMPANY NAME(s) - [PROSPECT CAPITAL CORP (CIK - 1287032 /SIC - Unspecified)]
The net realized gain of $1, 645 for the three months ended September 30, 2008 was due primarily to the sale of the warrants related to Deep Down, Inc. while the $(11) realized loss registered for the three months ended September 30, 2007 is attributable to the sale of U.S. Treasury Bills...
Net Realized Gains (Loss)
"Net realized gains (losses) were $1,645 and $(11) for the three months ended September 30, 2008 and September 30, 2007, respectively. The net realized gain of $1,645 for the three months ended September 30, 2008 was due primarily to the sale of the warrants related to Deep Down, Inc. while the $(11) realized loss registered for the three months ended September 30, 2007 is attributable to the sale of U.S. Treasury Bills."
Increase (Decrease) in Net Assets from Net Changes in Unrealized Appreciation/Depreciation
"Increase (decrease) in net assets from changes in unrealized appreciation/depreciation was $(11,149) and $696 for the three months ended September 30, 2008 and September 30, 2007, respectively. For the three months ended September 30, 2008, the $11,149 decrease in net assets from the net change in unrealized appreciation/depreciation was driven by significant write-downs in our investments in WEPI, Deb Shop, Inc., Iron Horse Coiled Tubing, Inc. and by the disposition of Deep Down, Inc. which had been previously valued above cost. These instances of unrealized depreciation were partially offset by unrealized appreciation in C&J, GSHI, and Yatesville. For"
Investment Activity
"During the three months ended September 30, 2008, we closed-out 2 positions which are briefly described below.
On July 3, 2008, we exercised our warrant for 4,960,585 shares of common stock in Deep Down, Inc. As permitted by the terms of the warrant, we elected to make this exercise on a cashless basis entitling us to 2,618,129 common shares. On August 1, 2008, we sold all the shares acquired receiving $1,649 of net proceeds.
On August 27, 2008, R-V Industries repaid the $7,526 debt outstanding to us."
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