Prospect Capital (PSEC) Prices 35M Common Offering

Prospect Capital Corporation (NASDAQ: PSEC) ("Prospect") announced today the pricing of an underwritten public offering of 35,000,000 shares of its common stock. The public offering is expected to close on or about November 7, 2012, subject to customary closing conditions. The last reported sales price of Prospect's common stock on November 1, 2012 was $11.92 per share. Prospect has also granted the underwriters a 30-day option to purchase up to 5,250,000 additional shares.

The securities described above are being offered by Prospect pursuant to a shelf registration statement previously filed with and declared effective by the Securities and Exchange Commission (the "SEC") on October 29, 2012.

Citigroup, Barclays, Deutsche Bank Securities and UBS Investment Bank are acting as joint book-running managers for this offering.

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