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Silver Spike Investment Corp. Reports First Quarter 2023 Financial Results
NEW YORK, May 11, 2023 (GLOBE NEWSWIRE) -- Silver Spike Investment Corp. (“Silver Spike” or the “Company”), a specialty finance company that was formed to
About this update from Chicago Atlantic Bdc, Inc.
[{"type":"text","content":"NEW YORK, May 11, 2023 (GLOBE NEWSWIRE) -- Silver Spike Investment Corp. (“Silver Spike” or the “Company”), a specialty finance company that was formed to invest across the cannabis ecosystem through investments primarily in the form of direct loans to privately held cannabis companies, today announced its financial results for the quarter ended March 31, 2023. Quarter Ended 3/31/23 Highlights Total investment income of $2.5 millionNet investment income of $1.4 million, or $0.22 per shareInvestment portfolio of $55.6 million at fair valueNet asset value (“NAV”) per share increased to $14.29 on March 31, 2023 from $13.91 on December 31, 2022 Scott Gordon, Chairman and Chief Executive Officer of Silver Spike, commented “As the cannabis industry continues to move through a challenging phase, we remain focused on methodically underwriting new loans to premier operators and brands in the industry. Lending to cannabis companies is as limited as we have seen in recent years, which puts us in a unique position to continue capturing attractive risk adjusted returns for our investors. Earlier this month, we led and participated in the $35 million initial close of a senior secured credit facility for DreamFields Brands Inc., a leading multi-state cannabis operator, and one of the fastest growing companies in the cannabis industry, through its Jeeter brand.” Conference Call Silver Spike will host a conference call and webcast to discuss the Company's first quarter 2023 financial results at 8:00 a.m. Eastern Time on Friday, May 12, 2023. Participants may register for the call here. A live webcast of the call will also be available on the Company’s website at ssic.silverspikecap.com. The presentation to be used in connection with the conference call and webcast will be available at ssic.silverspikecap.com. A replay of the call will be available at ssic.silverspikecap.com by end of day May 12, 2023. Background Silver Spike Investment Corp. is a closed-end, non-diversified management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended, and has elected to be treated as a regulated investment company for U.S. federal income tax purposes. On February 8, 2022, Silver Spike completed its initial public offering. Silver Spike is managed by Silver Spike Capital, LLC...