Business
SLR Investment Corp. Announces Quarter Ended June 30, 2021 Financial Results
Stable Net Asset Value Robust Q3 Pipeline Should Drive Meaningful Portfolio Growth Declares Quarterly Distribution of $0.41 Per Share for Q3, 2021 NEW YORK,
About this update from Slr Investment Corp.
[{"type":"text","content":"Stable Net Asset Value Robust Q3 Pipeline Should Drive Meaningful Portfolio Growth Declares Quarterly Distribution of $0.41 Per Share for Q3, 2021 NEW YORK, Aug. 03, 2021 (GLOBE NEWSWIRE) -- SLR Investment Corp. (NASDAQ: SLRC) (the “Company” or “SLRC”), today reported net investment income of $15.5 million, or $0.37 per share, for the second quarter 2021. At June 30, 2021, net asset value (NAV) was $20.29 per share, an increase of $0.03 per share from March 31, 2021. As of June 30, 2021, the Company’s portfolio was 100% performing. The Board declared a third quarter distribution of $0.41 per share payable on October 5, 2021 to stockholders of record as of September 23, 2021. The specific tax characteristics will be reported to stockholders on Form 1099 after the end of the calendar year. HIGHLIGHTS: At June 30, 2021: Comprehensive Investment portfolio* fair value: $1.92 billion Number of portfolio companies: >600* Net assets: $857.4 million Net asset value per share: $20.29 Net debt-to-equity: 0.73x Available capital**: $744 million, subject to borrowing base availability Comprehensive Investment Portfolio Activity*** for the Quarter Ended June 30, 2021: Investments made during the quarter: $173.2 million Investments prepaid and sold during the quarter: $301.5 million Operating Results for the Quarter Ended June 30, 2021: Net investment income: $15.5 million Net investment income per share: $0.37 Net realized and unrealized gain: $3.0 million Net increase in net assets from operations: $18.6 million Earnings per share: $0.44 * The Comprehensive Investment Portfolio for the quarter ended June 30, 2021 is comprised of SLRC’s investment portfolio, SLR Credit Solutions’ (“SLR-CS”) full portfolio, SLR Equipment Finance’s (“SLR-EF”) full portfolio and Kingsbridge Holdings, LLC’s (“KBH”) full portfolio, and excludes the Company’s fair value of the equity interests in SLR-CS, SLR-EF and KBH and also excludes SLRC’s loan to KBH. ** Please see Liquidity and Capital Resources. *** Comprehensive Portfolio Activity for the quarter ended June 30, 2021 includes gross originations through SLR-CS, SLR-EF and KBH. “SLRC’s portfolio continued to perform well during the second quarter, driven by our conservative underwriting and focus on investing in upper middle-market companies and our specialty finance strategies,” said Michael Gross, Co-CEO of ...