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PhenixFIN Corporation Announces Fiscal Third Quarter 2024 Financial Results
NAV Per Share Grew 14% In Last 12 Months (taking into account the distribution of the Special Dividend)Expanded Credit Facility To $87.5 Million NEW YORK,
About this update from Phenixfin Corporation
[{"type":"text","content":"NAV Per Share Grew 14% In Last 12 Months (taking into account the distribution of the Special Dividend)Expanded Credit Facility To $87.5 Million NEW YORK, Aug. 06, 2024 (GLOBE NEWSWIRE) -- PhenixFIN Corporation (NASDAQ: PFX, PFXNZ) (the \"Company\"), a publicly traded business development company, today announced its financial results for the fiscal third quarter of 2024. Highlights Third quarter total investment income of $6.2 million; net investment income of $2.0 millionNet asset value (NAV) of $154.2 million, or $76.35 per share as of June 30, 2024, taking into account the distribution of the special dividendWeighted average yield is 13.8% on debt and other income producing investmentsOn August 5, 2024, the Credit Facility was amended to increase the principal amount available to $87.5 millionOn May 9, 2024 the Board of Directors declared a special dividend of $1.31 per share which was paid on June 10, 2024 to stockholders of record as of May 27, 2024 David Lorber, Chief Executive Officer of the Company, stated: “We had a strong quarter with increased investment activity, continued strong credit fundamentals, and a robust weighted average yield for income producing investments. Our flexible capital solutions continue to provide opportunities for our portfolio companies while we diligently seek to grow our investment portfolio. This approach allows for a unique portfolio of investments which we believe is well-positioned to grow our NAV per share.” Selected Third Quarter 2024 Financial Results for the Quarter Ended June 30, 2024: Total investment income was $6.2 million which was attributable to portfolio interest and dividend income. Total expenses were $4.2 million and total net investment income was $2.0 million. The Company recorded total realized and unrealized gains of $0.5 million due to the sale of Kemmerer Holdings, LLC. Portfolio and Investment Activities for the Quarter Ended June 30, 2024: The fair value of the Company's investment portfolio totaled $233.7 million and consisted of 43 portfolio companies. Liquidity and Capital Resources At June 30, 2024, the Company had $8.9 million in cash and cash equivalents, $59.1 million in aggregate principal amount of its 5.25% unsecured notes due 2028 and $27.6 million outstanding under the Credit Facility. ABOUT PHENIXFIN CORPORATION PhenixFIN Corporation is a non-diversif...