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PhenixFIN Corporation Announces Fiscal First Quarter 2025 Financial Results
NAV per share $80.59 NEW YORK, Feb. 07, 2025 (GLOBE NEWSWIRE) -- PhenixFIN Corporation (NASDAQ: PFX, PFXNZ) (the "Company"), a publicly traded business
About this update from Phenixfin Corporation
[{"type":"text","content":"NAV per share $80.59 NEW YORK, Feb. 07, 2025 (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 for its year ending September 30, 2025. Highlights First quarter total investment income of $6.2 million; net investment income of $1.6 millionNet asset value (NAV) of $162.8 million, or $80.59 per share as of December 31, 2024Weighted average yield was 13.3% on debt and other income producing investmentsOn October 1, 2024, the Company completed the merger and reorganization of The National Security Group, Inc. (“NSG”) an Alabama based insurance holding companyOn February 6, 2025, the Board declared a special dividend of $1.43 per share to be paid on February 18, 2025, to stockholders of record as of February 17, 2025. David Lorber, Chief Executive Officer of the Company, stated: “We have had a great start to fiscal year 2025 as we continue to remain focused on executing our strategic priorities which include growing our platforms, pursuing compelling investment opportunities and increasing NAV per share.” Selected First Quarter 2025 Financial Results for the Quarter Ended December 31, 2024: Total investment income was $6.2 million of which $5.9 million was attributable to portfolio interest and dividend income, and $0.3 million was attributable to fee and other income. Total net expenses were $4.6 million and total net investment income was $1.6 million. The Company recorded a net realized gain of $1.2 million and a net unrealized loss of $0.3 million. Portfolio and Investment Activities for the Quarter Ended December 31, 2024: The fair value of the Company's investment portfolio totaled $300.1 million and consisted of 43 portfolio companies. The Company had certain investments in 3 portfolio companies on non-accrual status with a fair market value of $1.5 million. Liquidity and Capital Resources As of December 31, 2024, the Company had $7.2 million in cash and cash equivalents, $59.2 million in aggregate principal amount of its 5.25% unsecured notes due 2028 and $84.0 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 b...