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PhenixFIN Corporation Announces Fiscal First Quarter 2024 Financial Results
NAV per share grew 23% vs. First Quarter 2023 NEW YORK, Feb. 08, 2024 (GLOBE NEWSWIRE) -- PhenixFIN Corporation (NASDAQ: PFX, PFXNZ) (the "Company"), a
About this update from Phenixfin Corporation
[{"type":"text","content":"NAV per share grew 23% vs. First Quarter 2023\nNEW YORK, Feb. 08, 2024 (GLOBE NEWSWIRE) -- PhenixFIN Corporation (NASDAQ: PFX, PFXNZ) (the \"Company\"), a publicly traded business development company, today announced its financial results for the fiscal first quarter of 2024. Highlights First quarter total investment income of $5.7 million; net investment income of $1.7 millionNet asset value (NAV) of $150.7 million, or $73.14 per share as of December 31, 2023Weighted average yield was 13.0% on debt and other income producing investmentsRepurchased 13,223 shares as of December 31, 2023 David Lorber, Chief Executive Officer of the Company, stated: “We are pleased with our continued progress in growing our NAV per share as various investments over the past couple of years have generated favorable investment income and/or capital appreciation.” Selected First Quarter 2024 Financial Results for the Quarter Ended December 31, 2023: Total investment income was $5.7 million which was attributable to portfolio interest and dividend income. Total net expenses were $4.0 million and total net investment income was $1.7 million. The Company recorded a net realized gain of $0.2 million and net unrealized gain of $2.6 million. Portfolio and Investment Activities for the Quarter Ended December 31, 2023: The fair value of the Company's investment portfolio totaled $222.2 million and consisted of 39 portfolio companies. The Company had 4 portfolio company investments on non-accrual status with a fair market value of $8.9 million. Liquidity and Capital Resources At December 31, 2023, the Company had $12.2 million in cash and cash equivalents, $57.5 million in aggregate principal amount of its 5.25% unsecured notes due 2028 and $28.4 million outstanding under the Credit Facility. ABOUT PHENIXFIN CORPORATION PhenixFIN Corporation is a non-diversified, internally managed closed-end management investment company incorporated in Delaware that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. We completed our initial public offering and commenced operations on January 20, 2011. The Company has elected, and intends to qualify annually, to be treated, for U.S. federal income tax purposes, as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended....