Orlando, FL -- (SBWIRE) -- 08/26/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On Omnicare, Inc. (NYSE:OCR), Prospect Capital Corporation (NASDAQ:PSEC).
Omnicare, Inc. (NYSE:OCR) shares gained 0.39% to $56.21. The company on August 22 announced today that it has entered into separate, privately negotiated exchange agreements under which it will retire approximately $180.46 million in aggregate principal amount of its outstanding 3.75% Convertible Senior Subordinated Notes due 2025 in exchange for its issuance of $424.25 million in aggregate principal amount of new 3.50% Convertible Senior Subordinated Notes due 2044, with an original issue price of approximately $388.83 million (which issue price will accrete on a semi-annual basis).
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The Company also entered into separate, privately negotiated purchase agreements to repurchase approximately $5.15 million in aggregate principal amount of its outstanding 3.75% Notes due 2025 and $150 million in aggregate principal amount of its outstanding 7.75% Senior Subordinated Notes due 2020 (the "7.75% Notes").
Prospect Capital Corporation (NASDAQ:PSEC) stock fell 0.18% to $11.36. Equities research analysts at Keefe, Bruyette & Woods increased their price objective on shares of Prospect Capital Corp. (NASDAQ:PSEC) from $11.50 to $11.75 in a research note issued to investors on August 26. The firm currently has a “market perform” rating on the stock.
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Additionally, the company announced its earnings results on Wednesday, August 21st. The company reported $0.38 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.30 by $0.08. The company had revenue of $166.47 million for the quarter, compared to the consensus estimate of $141.38 million.
Additionally, the company on August 12 announced that Prospect has provided $80.0 million of floating-rate first-lien senior-secured loans and a senior-secured revolving credit facility for the recapitalization of Matrixx Initiatives, Inc. ("Matrixx"), owner of Zicam, a leading developer and marketer of over-the-counter ("OTC") cold remedy products under the Zicam brand. H.I.G. Capital, L.L.C. ("H.I.G."), a leading private equity firm, owns a controlling position in Matrixx.
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