Prospect Capital books $328 million exit, gives PSEC stock a new driver
Prospect Capital shares rose 2.1% to $2.37 after announcing the sale of Valley Electric to MYR Group for about $328 million. Prospect expects net exit proceeds of $280 million, or 9.5% of its March 31 net asset value. The stock remains below NAV, reflecting investor concerns despite the sale. MYR plans to fund the purchase with cash and credit.
