Filed under: Raising money, Private equity industry

Prospect Capital Corporation (NASDAQ: PSEC) has announced it will raise funds in a public offering of 3 million shares of common stock, and Prospect will allow the underwriters a 30-day option to purchase up to an additional 450,000 shares of its common stock to cover over-allotments from underwriters.

The private equity and mezzanine finance company stated that it expects to use the net proceeds from this secondary offering to repay outstanding debt, to fund investments in portfolio companies, and for general corporate purposes.

Citi and Wachovia are the lead underwriters, and Oppenheimer, and RBC Capital Markets are listed the co-managers of this offering.

Continue reading at 247WallSt.com to hear about the implications and how this compares to the overall size of the company.

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Filed under: Raising money, Private equity industry

Prospect Capital Corporation (NASDAQ: PSEC) has announced it will raise funds in a public offering of 3 million shares of common stock, and Prospect will grant the underwriters a 30-day option to buy up to an additional 450,000 shares of its common stock to cover over-allotments from underwriters.

The private equity and mezzanine finance company said that it expects to use the net proceeds from this secondary offering to repay outstanding debt, to fund investments in portfolio companies, and for general corporate purposes.

Citi and Wachovia are the lead underwriters, and Oppenheimer, and RBC Capital Markets are listed the co-managers of this offering.

Continue reading at 247WallSt.com to hear about the implications and how this compares to the overall size of the company.

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Filed under: Deals, Movers and shakers, The Blackstone Group, Rumors, Apollo Management, Private equity industry, Public or private?

Shares of Chemtura Corporation (NYSE: CEM) are seeing some love early Tuesday. A report out of the WSJ from last night is putting the stock in play as a potential takeover target. The report notes that Blackstone Group LP (NYSE: BX) and Apollo Management LP are in talks to acquire the specialty chemical maker.

The company’s market cap is almost $1.9 billion, so it would seem within the realm of deal sizes even in an environment where private equity types haven’t been able to do many deals. Whether or not the deal is made, that’s yet to be seen.

Chemtura products are used in flame retardants, polymer additives, PVC additives, agriculture, plastics, and more.

Even on a deal this size, do we need club deals in a private equity environment in need of simplification? Either way, until we’ve an announcement. this should be treated as just a rumor.

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