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Silver Spike Investment Corp. Reports Second Quarter 2023 Financial Results
NEW YORK, Aug. 10, 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, Aug. 10, 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 June 30, 2023. Quarter Ended 6/30/23 Highlights Total investment income of $2.9 millionNet investment income of $1.9 million, or $0.31 per shareInvestment portfolio of $57.7 million at fair valueNet asset value (“NAV”) per share increased to $14.49 on June 30, 2023 from $14.29 on March 31, 2023A cash dividend of $0.63 per share was declared, consisting of a regular quarterly dividend of $0.23 per share and a special dividend of $0.40 per share. The dividend is payable on September 29, 2023 to stockholders of record on September 15, 2023. Scott Gordon, Chairman and Chief Executive Officer of Silver Spike, commented “We have built a robust portfolio of loans over the past year and are excited to announce our inaugural regular quarterly dividend and special dividend. Our ability to announce our first dividends, after commencing operations as a “blind pool” with no investments, is a testament to Silver Spike's rigorous underwriting standards, specialized structuring skills and cannabis expertise. The cannabis market remains challenging for operators and investors, but we continue to see attractive investment opportunities and will seek to add investments to the portfolio in a disciplined manner.” Conference Call Silver Spike will host a conference call and webcast to discuss the Company's second quarter 2023 financial results at 8:00 a.m. Eastern Time on Friday, August 11, 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 August 11, 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...