UPDATE: Prospect Capital to Acquire Nicholas Financial in $340M Transaction(

Nicholas Financial NICK announced today that it has signed an arrangement agreement dated December 17, 2013 whereby the Company has agreed to sell all of its issued and outstanding Common shares to an indirect wholly-owned subsidiary of Prospect Capital Corporation ("Prospect"), pursuant to a plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia). Prospect PSEC (www.prospectstreet.com) is a closed-end investment company that lends to and invests in private and public middle market businesses. Prospect's investment objective is to generate both current income and long-term capital appreciation through debt and equity investments. See full press release