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Silver Spike Investment Corp. Reports Second Quarter Fiscal 2023 Financial Results
NEW YORK, Nov. 10, 2022 (GLOBE NEWSWIRE) -- Silver Spike Investment Corp. (“Silver Spike” or the “Company”), a specialty finance company that was formed to
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[{"type":"text","content":"NEW YORK, Nov. 10, 2022 (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 in the form of direct loans to, and equity ownership of, privately held cannabis companies, today announced its financial results for the quarter ended September 30, 2022. Second Quarter 2023 Highlights Total investment income of $1.2 millionNet investment income of $0.6 million, or $0.09 per shareInvestment portfolio of $24.5 million at fair valueNet asset value (“NAV”) per share increased to $13.73 on September 30, 2022 from $13.64 on June 30, 2022 Scott Gordon, Chairman and Chief Executive Officer of Silver Spike, commented, “We continue leveraging our platform’s direct origination engine to build a robust pipeline of attractive lending opportunities. Our rigorous underwriting standards and time-tested specialized structuring skills position Silver Spike as one of the leading providers of credit to a regulatorily complex and rapidly-growing industry with little access to traditional sources of capital. Throughout the quarter, our investment adviser diligenced several potential private and public company borrowers. In the month of October, we made three investments that were largely a result of these diligence efforts.” Conference Call Silver Spike will host a conference call and webcast to discuss the Company's second quarter 2023 financial results at 4:30 p.m. Eastern Time on Thursday, November 10, 2022. 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 is available at ssic.silverspikecap.com. A replay of the call will be available at ssic.silverspikecap.com by end of day November 11, 2022. 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 managed by Silver Spike Capital, LLC, an inve...