PCAP Patriot Capital Funding, Inc. featured news, full reports, and detailed charts
Patriot Capital Funding, Inc. (PCAP) Wrap Up:
We are a specialty finance company that provides customized financing solutions to small- to mid-sized companies. Our ability to invest across a company’s capital structure, from senior secured loans to equity securities, allows us to offer a comprehensive suite of financing solutions, including “one-stop” financings. Our “one-stop” financing typically includes a revolving line of credit, one or more senior secured term loans and a subordinated debt investment. We also make equity co-investments which we generally expect to be less than $2.0 million. We primarily finance privately-held companies in transactions initiated by private equity sponsors. Our investment objective is to generate both current cash income and capital appreciation. ... More..."http://secfilings.nasdaq.com/edgar_conv_html%2f2008%2f03%2f04%2f0000950133-08-000941.html#FIS_BUSINESS"Patriot Capital Funding, Inc. (PCAP:NASDAQ)
Snapshot of Patriot Capital Funding, Inc. (PCAP)
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OPEN
$3.83
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PREVIOUS CLOSE
$3.88
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DAY HIGH
$3.92
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DAY LOW
$3.83
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52 WEEK HIGH
11/18/09 - $4.00
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52 WEEK LOW
03/9/09 - $0.81
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MARKET CAP
81.5M
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AVERAGE VOLUME 3 mo
201.3K
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DILUTED EPS TTM
$-1.87
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SHARES OUTSTANDING
21.0M
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EX-DATE
11/4/09
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P/E TTM
NM
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DIVIDEND
$0.14
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DIVIDEND YIELD
3.59%
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| K = Thousands M = Millions B = Billions | ||
PCAP Top Compensated Officers
Executives, Board Directors
Key developments for Patriot Capital Funding, Inc. (PCAP)
Patriot Capital Funding, Inc. expected to Report Fiscal Year 2009 Results on March 15, 2010. This event was calculated by Capital IQ (Created on November 13, 2009).
Patriot Capital Funding, Inc. expected to Report Q3 2009 Results on November 9, 2009. This event was calculated by Capital IQ (Created on November 6, 2009).
Patriot Capital Funding, Inc. announced that its board of directors declared a final dividend in an amount equal to all of Patriot Capital Funding's undistributed net ordinary income and capital gains through the closing date of its proposed merger with Prospect Capital Corporation. It is currently estimated that the amount of the final dividend will be $0.38 per share assuming that the merger closes on November 25, 2009. The actual amount of the final dividend may be more or less than the estimated amount and will be determined immediately prior to the closing of the merger. In accordance with a recent IRS revenue procedure, the dividend will be payable up to 10% in cash and at least 90% in newly issued shares of Patriot Capital Funding's common stock. Each shareholder will have the right to elect to receive such dividend in cash or common stock through an election form which will be subsequently distributed to shareholders of Patriot Capital Funding, although no more than 10% of the total dividend paid to all shareholders will be paid in cash. If the total portion of the dividend to be paid to shareholders electing to receive cash exceeds 10% of the total dividend, each such shareholder electing to receive cash will receive an allocable portion of the total cash to be distributed and the remaining portion of the distribution to be paid to each such shareholder will be paid in common stock. The final dividend will be paid immediately prior to the consummation of the merger with Prospect Capital (which is anticipated to be on or around November 25, 2009) to shareholders of record of Patriot Capital Funding at the close of business on November 2, 2009. The shares received in connection with the final dividend will be converted into the merger consideration in accordance with the merger agreement with Prospect Capital. In the event that Patriot Capital Funding's merger with Prospect Capital is not consummated, Patriot Capital Funding will not pay the final dividend and its 2009 tax year will continue.
PCAP Competitors
| Company | Last | Change |
| Gladstone Capital Corp | $7.85 USD | +0.03 |
| Gladstone Investment Corp | $4.56 USD | +0.03 |
| NGP Capital Resources Co | $7.49 USD | -0.16 |
| TICC Capital Corp | $5.56 USD | +0.01 |
| Triangle Capital Corp | $12.64 USD | +0.12 |
| Market data is delayed at least 20 minutes. | ||
Industry Analysis
| Valuation | PCAP | Industry Range |
| Price/Earnings | NM | Not Meaningful |
| Price/Sales | 2.3x |
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| Price/Book | 0.5x |
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| Price/Cash Flow | NM | Not Meaningful |
| TEV/Sales | NM | Not Meaningful |
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PCAP |
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PCAP transactions
| Type Date |
Target |
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Merger/Acquisition
August 3, 2009 |
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More Recent News About Patriot Capital Funding, Inc.
More news for PCAP
Prospect Capital Announces 31% Year-Over-Year Increase in Net Investment Income for Fiscal Year Ended June 30, 2009
NEW YORK, NY--(Marketwire - 09/14/09) - Prospect Capital Corporation (NASDAQ:PSEC - News) ("Company" or "Prospect") today announced financial results for its fourth fiscal quarter and fiscal year ended June 30, 2009. For the year ended June 30, 2009, our net investment income was $59.2 million, or $1.87 per weighted average number of shares for the year, an increase of 31% from the prior year on a dollars basis, and comparable to the prior year per weighted average share amount of $1.91. Our net asset value per share on June 30, 2009 stood at $12.40 per share.For the quarter ended June 30, 2009, our net investment income was $12.0 million, or 32 cents per weighted average number of shares for the quarter. We estimate that our net investment income for the current first fiscal quarter ended September 30, 2009 will be 25 to 30 cents per share. These temporary per share changes from prior quarters are primarily due to the raising of additional capital to fund the acquisition of Patriot Capital Funding, Inc. (NASDAQ:PCAP - News) ("Patriot"), the benefits of which will be reflected in our future financial results after the Patriot closing projected in the fourth quarter. We expect the Patriot acquisition to be signific...Click here to read the whole Article (external link)
PATRIOT CAPITAL FUNDING, INC. Financials
PERIOD ENDING30-Jun-0931-Mar-0931-Dec-0830-Sep-08Total Revenue8,057 8,535 10,171 10,229 Cost of Revenue(329)329 1,636 - Gross Profit8,386 8,206 8,535 10,229 Operating ExpensesResearch Development - - - - Selling General and Administrative3,106 1,502 (5,586)7,656 Non Recurring - - - - Others - - - - Total Operating Expenses - - - - Operating Income or Loss5,280 6,704 14,121 2,573 Income from Continuing OperationsTotal Other Income/Expenses Net(12,448)(15,574)(22,900)(6,609)Earnings Before Interest And Taxes(22,742)6,704 34,432 (4,036)Interest Expense2,777 1,586 8,158 (3,720)Income Before Tax(25,519)5,118 26,273 (316)Income Tax Expense - - - - Minority Interest - - - - Net Income From Continuing Ops(9,945)(10,457)(16,937)(316)Non-recurring EventsDiscontinued Operations - - - - Extraordinary Items - - - - Effect Of Accounting Changes - - ...Click here to read the whole Article (external link)
PATRIOT CAPITAL FUNDING, INC. Files SEC form 10-Q, Quarterly Report
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations The information contained in this section should be read in conjunction with our consolidated financial statements and notes thereto appearing elsewhere in this quarterly report on Form 10-Q. Some of the statements in this quarterly report on Form 10-Q constitute forward-looking statements because they relate to future events or our future performance or financial condition. The forward-looking statements contained in this quarterly report on Form 10-Q may include statements as to: • Our ability to negotiate an arrangement with the lenders of our Amended Securitization Facility for repayment terms that do not require us to use all principal and interest collected from the debt investments secured by the facility to pay down amounts outstanding thereunder; • Our ability to negotiate other financing and/or strategic alternatives, including possible debt or equity financing, acquisition or disposition of assets, and other strategic transactions; • Our ability to maintain our status as a RIC under the Code; • Our ability to continue as a going concern; • Our future operating results; • Our business prospects and the prospects of our portfolio companies; • The ability of our portfolio companies to achieve their objectives; • Our expected financings and investments; • Future changes in laws or regulations (including the interpretation of these laws and regulations by regulatory authorities) and conditions in our operating areas, particularly with respect to business development companies and RIC's; • The adequacy of our cash resources and working capital; and • The timing of cash flows, if any, from the operations of our portfolio companies. In addition, words such as "anticipate," "believe," "expect" and "intend" indicate a forward-looking stat...Click here to read the whole Article (external link)
Patriot Capital Funding Declares Final Dividend
WESTPORT, Conn.--(BUSINESS WIRE)--Patriot Capital Funding, Inc. (NasdaqGS: PCAP - News) today announced that its board of directors declared a final dividend in an amount equal to all of Patriot Capital Funding’s undistributed net ordinary income and capital gains through the closing date of its proposed merger with Prospect Capital Corporation. It is currently estimated that the amount of the final dividend will be $0.38 per share assuming that the merger closes on November 25, 2009. The actual amount of the final dividend may be more or less than the estimated amount and will be determined immediately prior to the closing of the merger. The final dividend is necessary to preserve Patriot Capital Funding’s favorable regulated investment company tax treatment. Specifically, Patriot Capital Funding generally must distribute to its shareholders annually at least 90% of its “investment company taxable income,†which is generally its net ordinary income plus the excess, if any, of realized net short-term capital gains over realized net long-term capital losses, in order to maintain its qualification as a regulated investment company for U.S. federal income tax purposes. As a result, because Patriot Capital Funding’s existence will terminate upon the closing of the merger, Patriot Capital Funding is required to declare a final dividend to its shareholders, which together with all P...Click here to read the whole Article (external link)
Patriot Capital Funding Sets November 18, 2009 for Special Meeting of Shareholders to Vote on Proposed Prospect Capital Merger
WESTPORT, Conn.--(BUSINESS WIRE)--Patriot Capital Funding, Inc. (NasdaqGS: PCAP - News) today announced that a special meeting of shareholders will be held on November 18, 2009 to vote on the proposed merger with Prospect Capital Corporation (NasdaqGS: PSEC - News). Patriot Capital Funding, Inc. shareholders at the close of business on October 21, 2009 will be eligible to vote by proxy or at the special meeting on the proposed merger. “The board of directors of Patriot Capital Funding believes that the proposed Prospect Capital merger is the best alternative for Patriot Capital Funding shareholders and, as a result, strongly recommends that shareholders vote in favor of this transaction,†said Richard P. Buckanavage, president and chief executive officer of Patriot Capital Funding. “In this regard, each of Patriot Capital Funding’s directors and executive officers has indicated that he intends to vote his shares in favor of the merger.â€Completion of the transaction is subject to certain conditions, including approval by the shareholders of Patriot Capital Funding, the receipt of payoff ...Click here to read the whole Article (external link)
Prospect Capital Announces Results for Quarter Ended September 30, 2009
NEW YORK, NY--(Marketwire - 11/09/09) - Prospect Capital Corporation (NASDAQ:PSEC - News) ("Company," "Prospect" or "we") today announced financial results for its first fiscal quarter ended September 30, 2009. For the quarter ended September 30, 2009, our net investment income was $12.3 million, or 25 cents per weighted average number of shares for the quarter. We estimate that our net investment income for the current second fiscal quarter ended December 31, 2009 will be 22 to 30 cents per share. These temporary per share changes from prior quarters are primarily due to the issuance of additional shares to fund the acquisition of Patriot Capital Funding, Inc. (NASDAQ:PCAP - News) ("Patriot"). The full quarterly benefits of the Patriot acquisition are expected to be reflected in the March 31, 2010 quarterly financial results. We have also raised additional equity capital that can be deployed into other accretive investments beyond the Patriot acquisition.We anticipate that the merger with Patriot will close on or about December 2, 2009. We expect the Patriot acquisition to be accretive to net investment income per quarter in an amount approximating 9 cents or more per share, which could be greater with early repa...Click here to read the whole Article (external link)
Patriot Capital Funding Modifies Previously Declared Final Dividend and Sets New Record Date
WESTPORT, Conn.--(BUSINESS WIRE)--Patriot Capital Funding, Inc. (NasdaqGS: PCAP - News) today announced that its board of directors has modified the previously declared final dividend by determining that payment of the final dividend will not be contingent upon the closing of Patriot Capital Funding’s merger with Prospect Capital Corporation. In connection with this determination, the board of directors also set a new record date of November 6, 2009 for the final dividend. Patriot Capital Funding shareholders of record at the close of business on November 6, 2009 will be paid the final dividend upon the earlier to occur of (i) the date of the consummation of Patriot Capital Funding’s merger with Prospect Capital (which is anticipated to be on or around December 2, 2009) or (ii) December 28, 2009. Assuming all conditions to closing of the merger are satisfied and the merger occurs, the shares received in connection with the final dividend will be converted into the merger consideration in accordance with the merger agreement with Prospect Capital. The final dividend will be in an amount equal to Patriot Capital Funding’s undistributed net ordinary income and capital gains through the date on which the final dividend is paid to Patriot Capital Funding shareholders. It is currently estimated that the amount of the final dividend will be $0.38 per share assuming that the payment date is ...Click here to read the whole Article (external link)
Patriot Capital Funding Files Form 10-Q For 2009 Third Quarter
Copyright © 2009 Yahoo! All rights reserved. Privacy Policy - Terms of Service - Copyright Policy - Report Problems Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quote data delayed 15 minutes for Nasdaq, NYSE and Amex. Real-Time continuous streaming quotes are available through our premium service. You may turn streaming quotes on or off. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Yahoo! is not an investment adviser and does not provide, endorse or review any information or data contained herein....Click here to read the whole Article (external link)
PATRIOT CAPITAL FUNDING, INC. Files SEC form 10-Q, Quarterly Report
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations The information contained in this section should be read in conjunction with our consolidated financial statements and notes thereto appearing elsewhere in this quarterly report on Form 10-Q. Some of the statements in this quarterly report on Form 10-Q constitute forward-looking statements because they relate to future events or our future performance or financial condition. The forward-looking statements contained in this quarterly report on Form 10-Q may include statements as to: • The likelihood that the proposed merger with Prospect Capital Corporation is completed and the anticipated timing of the completion of the proposed merger; • Our future operating results and business prospects if the proposed merger is not completed; • Our ability to negotiate an arrangement with the lenders of our Amended Securitization Facility for repayment terms that do not require us to use all principal and interest collected from the debt investments secured by the facility to pay down amounts outstanding thereunder; • Our ability to negotiate other financing and/or strategic alternatives, including possible debt or equity financing, acquisition or disposition of assets, and other strategic transactions; • Our ability to maintain our status as a RIC under the Code; • Our ability to continue as a going concern; • Our future operating results; • Our business prospects and the prospects of our portfolio companies; • The ability of our portfolio companies to achieve their objectives; • Our expected financings and investments; • Future changes in laws or regulations (including the interpretation of these laws and regulations by regulatory authorities) and conditions in our operating areas, particularly with respect to business development companies and RIC's; • The adequacy of our cash resour...Click here to read the whole Article (external link)
New Star Analyst Rankings for Patriot Capital Funding, Inc.
Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback Quotes delayed, except where indicated otherwise.Delay times are 15 mins for NASDAQ, 20 mins for NYSE and Amex. See also delay times for other exchanges.Copyright © 1999-2003, StarMine Corp. All rights reserved.StarMine Corp. derives analyst ratings from estimate and recommendation data supplied by Thomson Financial.Historical chart data and daily updates provided by Commodity Systems, Inc. (CSI). International historical chart data, daily updates, fund summary, fund performance, dividend data and...Click here to read the whole Article (external link)
