普罗斯佩克特资本：2024年度报告

ANNUAL REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGEACT OF 1934 Floating Rate Series A4 Preferred Stock, par value $0.001Floating Rate Series M4 Preferred Stock, par value $0.001 Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule405 of the Securities Act.YesýNooIndicate by check mark if the Registrant is not required to file reports pursuant to Section13 or Section15(d) of the Act. Yeso NoýIndicate by check mark whether the Registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of 1934 duringthe preceding 12months (or for such shorter period that the Registrant was required to file such reports), and (2)has been subject to such filing requirementsfor the past 90days.YesýNooIndicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405 ofRegulationS-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period that the Registrant was required to submit such files).YesýNoo Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or anemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company”, and “emerging growth company”in Rule12b-2 of the Exchange Act. Accelerated fileroNon-accelerated fileroSmallerreportingcompanyoEmerging growth companyo If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new orrevised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.o Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal controlover financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued itsaudit report.☒ Indicate by check mark whether any of those error corrections are restatements that required recovery analysis of incentive-based compensation received byany of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).o Indicate by check mark whether the Registrant is a shell company (as defined in Rule12b-2 of the Act).Yeso No☒ The aggregate market value of the common equity held by non-affiliates of the Registrant as of December31, 2024 was $1.349billion (based on the closingprice on that date of $4.31 on the NASDAQ Global Select Market). For the purposes of calculating this amount only, all executive officers and Directors are“affiliates” of the Registrant. As of August25, 2025, there were462,343,452shares of the Registrant’s common stock outstanding. Documents Incorporated by Reference Portions of the Registrant’s definitive Proxy Statement relating to the 2025 Annual Meeting of Stockholders, to be filed with the Securities and ExchangeCommission, are incorporated by reference in PartIII of this Annual Report on Form10-K to the extent described therein. Table of Contents PageForward-Looking Statements1PART IItem 1.Business3Item 1A.Risk Factors31Item 1B.Unresolved Staff Comments73Item 1C.Cybersecurity73Item 2.Properties74Item 3.Legal Proceedings74Item 4.Mine Safety Disclosures74PART IIItem 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities75Item 6.[Reserved]87Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations88Item 7A.Quantitative and Qualitative Disclosures About Market Risk123Item 8.Financial Statements and Supplementary Data124Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure252Item 9A.Controls and Procedures252Item 9B.Other Information254Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections255PART IIIItem 10.Directors, Executive Officers and Corporate Governance255Item 11.Executive Compensation256Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters256Item 13.Certain Relationships and Related Transactions, and Director Independence256Item 14.Principal Accountant Fees and Services256PART IVItem 15.Exhibits and Financial Statement Schedules257Item 16.Form 10-K Summary298Signatures299 FORWARD-LOOKING STATEMENTS This report contains information that may constitute “forward-looking statements.” Generally, the words “believe,” “expect,” “intend,”“estimate,” “anticipate,” “project,” “will,” “should,” “could,” “may,” “plan” and similar expressions identify forward-looking statements, whichgenerally are not historical in nature. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. All statements