Tender Offer - Prospect Floating Rate & Alternative Income Fund, Inc.
Form Type: SC TO-I
Filing Date: 2025-03-24
Corporate Action: Tender-offer
Type: New
Accession Number: 000152194525000028
Filing Summary: On March 24, 2025, Prospect Floating Rate and Alternative Income Fund, Inc. filed a Tender Offer Statement to repurchase shares of its common stock, including Class A, Class S, Class D, and Class I shares, using cash retained from its distribution reinvestment plan. The offer is contingent on the cash available and will apply to shares outstanding as of the filing date. The Purchase Price will be based on the net asset value (NAV) per share as of April 30, 2025. Notably, the report states that there are currently no Class S or Class D shares outstanding, with Class A and Class I shares totaling 8,913,089 issued. The NAV per share for Class A and Class I, as of January 31, 2025, was recorded at $4.61. The document specifies various terms of the offer including procedures for tendering shares and the rights pertaining to withdrawal.
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Additional details:
Title Of Class Of Securities: Class A, Class S, Class D, and Class I Common Stock
Cusip Number: 89678V105
Number Of Shares Outstanding: 8913089
Number Of Holders Of Record: 962
Purchase Price: NAV per share as of April 30, 2025
Nav Class A And I: $4.61 as of January 31, 2025
Form Type: SC TO-I/A
Filing Date: 2025-02-21
Corporate Action: Tender-offer
Type: Update
Accession Number: 000152194525000022
Filing Summary: This document is an Amendment No. 1 to the Tender Offer Statement on Schedule TO filed by Prospect Floating Rate and Alternative Income Fund, Inc. on February 21, 2025. The amendment provides updates regarding the company's offer to repurchase its common stock, specifically for Class A, Class S, Class D, and Class I shares, with the underlying funds resulting from a distribution reinvestment plan. The original tender offer was filed on December 30, 2024, allowing the company to repurchase shares using retained cash. The tender offer period concluded on January 30, 2025, with a total of 151,172 shares validly tendered at a price of $4.61 per share, totaling approximately $696,901. This filing certifies that all information presented is true and correct, as per the statement dated February 21, 2025, from M. Grier Eliasek, Chairman, Chief Executive Officer and President.
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Additional details:
Title Of Class Of Securities: Class A, Class S, Class D, and Class I Common Stock
Cusip Number: 89678V 10589678V 20489678V 30389678V 402
Authorized Contact Name: Kristin Van Dask
Authorized Contact Address: 10 East 40th Street, 42nd Floor, New York, New York 10016
Authorized Contact Phone Number: (212) 448-0702
Tender Offer Expiration Date: 2025-01-30
Total Shares Tendered: 151,172
Purchase Price Per Share: $4.61
Aggregate Purchase Price: $696,901
Service Resolution Date: 2025-01-31
Form Type: SC TO-I
Filing Date: 2024-12-30
Corporate Action: Tender-offer
Type: New
Accession Number: 000152194524000174
Filing Summary: On December 30, 2024, Prospect Floating Rate and Alternative Income Fund, Inc. filed a Tender Offer Statement under the Securities Exchange Act of 1934. The company is looking to purchase up to the number of shares of its common stock that it can repurchase with retained cash generated during the quarter ending September 30, 2024. This offer includes Class A, Class S, Class D, and Class I Common Stock, with the Purchase Price set at the net asset value (NAV) per share as of January 31, 2025. As of the filing date, approximately 8,900,320 Shares of Class A and Class I are reported as issued and outstanding. The filing contains references to various terms of the transaction, including the process for tendering shares and withdrawal rights. The NAV per share for Class A and I on October 31, 2024, was noted as $4.56, although the Purchase Price may fluctuate. The document does not indicate any current plans for extraordinary transactions such as mergers or acquisitions.
Document Link: View Document
Additional details:
Issuer Name: Prospect Floating Rate and Alternative Income Fund, Inc.
Issuer Address: 10 East 40th Street, 42nd Floor, New York, New York 10016
Cusip Numbers: 89678V 105, 89678V 204, 89678V 303, 89678V 402
Number Of Holders: 1062
Total Shares Outstanding: 8900320
Nav Class A Class I: 4.56
Offer Expiration Date: January 31, 2025
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