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Silver Spike Investment Corp. Reports Fiscal Year End 2022 Financial Results
NEW YORK, March 30, 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, March 30, 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 fiscal year ended December 31, 2022. Quarter Ended 12/31/22 Highlights Total investment income of $2.0 millionNet investment income of $1.4 million, or $0.23 per shareInvestment portfolio of $50.3 million at fair valueNet asset value (“NAV”) per share increased to $13.91 on December 31, 2022 from $13.73 on September 30, 2022 Scott Gordon, Chairman and Chief Executive Officer of Silver Spike, commented, “We continue to build a robust portfolio of loans to the cannabis industry's top operators, leveraging the platform's deep industry network and knowledge base. As the cannabis industry moves through a challenging phase, we remain bullish on the long-term growth prospects of the industry and continue to see an abundant number of attractive loan opportunities. In January, we co-led and participated in a $35 million senior secured credit facility for MariMed,Inc. (“MariMed”), a premier seed-to-consumer vertically integrated multi-state cannabis operator, which will enable MariMed to fund its growth plans and be opportunistic in today's environment.” Conference Call Silver Spike will host a conference call and webcast to discuss the Company's fiscal year end 2022 financial results at 8:00 a.m. Eastern Time on Friday, March 31, 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 March 31, 2023. BackgroundSilver 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 man...