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PhenixFIN Corporation Announces Fiscal Second Quarter 2024 Financial Results
NAV Per Share Grew 22% In Last 12 MonthsExpanded Credit Facility To $62.5 Million NEW YORK, May 10, 2024 (GLOBE NEWSWIRE) -- PhenixFIN Corporation (NASDAQ:
About this update from Phenixfin Corporation
[{"type":"text","content":"NAV Per Share Grew 22% In Last 12 MonthsExpanded Credit Facility To $62.5 Million NEW YORK, May 10, 2024 (GLOBE NEWSWIRE) -- PhenixFIN Corporation (NASDAQ: PFX, PFXNZ) (the \"Company\"), a publicly traded business development company, today announced its financial results for the fiscal second quarter of 2024. Highlights Second quarter total investment income of $4.7 million; net investment income of $0.6 millionNet asset value (NAV) of $154.3 million, or $76.35 per share as of March 31, 2024Weighted average yield was 13.6% on debt and other income producing investmentsRepurchased 40,000 shares during the second fiscal quarterOn February 21, 2024, the Credit Facility was amended to increase the principal amount available to $62.5 million.On May 9, 2024 the Board of Directors declared a special dividend of $1.31 per share. This dividend is payable on June 10, 2024 to stockholders of record as of May 27, 2024. David Lorber, Chief Executive Officer of the Company, stated: “We continue to be pleased with our progress in growing our NAV per share as various investments have generated favorable investment income and/or capital appreciation. We continue to pursue NAV per share growth over time. We are also excited for potential future investments that should provide additional growth opportunities. In addition, we are pleased to announce a special dividend of $1.31 per share for 2023 spillover income.” Selected Second Quarter 2024 Financial Results for the Quarter Ended March 31, 2024: Total investment income was $4.7 million which was attributable to portfolio interest and dividend income. Total expenses were $4.1 million and total net investment income was $0.6 million. The Company recorded total realized and unrealized gains of $4.8 million due to appreciation in various investments. Portfolio and Investment Activities for the Quarter Ended March 31, 2024: The fair value of the Company's investment portfolio totaled $220.0 million and consisted of 41 portfolio companies. Liquidity and Capital Resources At March 31, 2024, the Company had $19.1 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 inves...