2.43%XLF 15.10 
10.30%QQQQ 31.32 0.63%
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NEW YORK - Prospect Capital Corp., which invests in private and microcap public businesses, said Tuesday it will begin a public offering of 3 million shares.
| PSEC | 10.76 |  4.47 |
The company will also give underwriters a 30-day option to buy up to another 450,000 shares to cover over-allotments, if any.
Prospect Capital will use the proceeds to repay outstanding debt, fund investments in portfolio companies and for general corporate purposes.
Prospect Capital had 26.3 million shares outstanding as of May 6.
Citi and Wachovia Securities are lead underwriters.
Shares fell $1.04, or 6.5 percent, to $14.88 in after-hours trading. In the regular session, shares slipped 3 cents to close at $15.92.
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