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SLR Investment Corp. Announces Quarter Ended June 30, 2022 Financial Results; Reports Net Investment Income of $0.37 Per Share
NEW YORK, Aug. 02, 2022 (GLOBE NEWSWIRE) -- SLR Investment Corp. (NASDAQ: SLRC) (the “Company” or “SLRC”), today reported net investment income of $20.3
About this update from Slr Investment Corp.
[{"type":"text","content":"NEW YORK, Aug. 02, 2022 (GLOBE NEWSWIRE) -- SLR Investment Corp. (NASDAQ: SLRC) (the “Company” or “SLRC”), today reported net investment income of $20.3 million, or $0.37 per share, for the second fiscal quarter of 2022 compared to net investment income, pre-merger related expenses, of $14.8 million, or $0.35 per share, in Q1, 2022. The Company completed its acquisition of SLR Senior Investment Corp. (“SUNS”) on April 1, 2022. At June 30, 2022, net asset value (NAV) was $18.53 per share compared to $19.56 per share at March 31, 2022. Approximately one-third of the decline in NAV is the result of merger accounting of the purchase price discount. In April 2022, after the closing of the merger with SUNS, SLRC modified the frequency of its distributions from quarterly to monthly. For the quarter ended June 30, 2022, the Company paid monthly distributions totaling $0.41 per share. On August 2, 2022, the Company’s Board of Directors (the “Board”) declared a monthly distribution of $0.136667 per share payable on September 1, 2022 to stockholders of record as of August 18, 2022. The specific tax characteristics of the distribution will be reported to stockholders on Form 1099 after the end of the calendar year. HIGHLIGHTS: At June 30, 2022:Comprehensive Investment Portfolio* fair value: $2.7 billionNumber of portfolio companies: >780Net assets: $1.0 billionNet asset value per share: $18.53Net debt-to-equity: 0.96xAvailable capital**: approximately $850 million, subject to borrowing base availability Comprehensive Investment Portfolio Activity*** for the Quarter Ended June 30, 2022:Investments made during the quarter: $274.8 millionInvestments prepaid and sold during the quarter: $199.3 million Operating Results for the Quarter Ended June 30, 2022:Net investment income: $20.3 millionNet investment income per share: $0.37Net realized and unrealized loss: $35.9 millionNet decrease in net assets from operations: $15.6 millionLoss per share: $0.29 * The Comprehensive Investment Portfolio for the quarter ended June 30, 2022 is comprised of SLRC’s investment portfolio and the full portfolios of SLR Credit Solutions (“SLR-CS”), SLR Equipment Finance (“SLR-EF”), Kingsbridge Holdings, LLC (“KBH”), SLR Business Credit (“SLR-BC”) and SLR Healthcare ABL (“SLR-HC ABL”) owned by the Company (collectively, the Company’s “Commercial Finance Portfolio Co...