Business
SLR Investment Corp. Announces Quarter Ended September 30, 2021 Financial Results; Strong Q3 Origination Pace Continues into Fourth Quarter; Declares Quarterly Distribution of $0.41 Per Share for Q4, 2021
NEW YORK, Nov. 03, 2021 (GLOBE NEWSWIRE) -- SLR Investment Corp. (NASDAQ: SLRC) (the “Company” or “SLRC”), today reported net investment income of $15.0
About this update from Slr Investment Corp.
[{"type":"text","content":"NEW YORK, Nov. 03, 2021 (GLOBE NEWSWIRE) -- SLR Investment Corp. (NASDAQ: SLRC) (the “Company” or “SLRC”), today reported net investment income of $15.0 million, or $0.36 per share, for the third quarter of 2021. At September 30, 2021, net asset value (NAV) was $20.20 per share. The Board declared a fourth quarter distribution of $0.41 per share payable on January 5, 2022 to stockholders of record as of December 16, 2021. The specific tax characteristics will be reported to stockholders on Form 1099 after the end of the calendar year. HIGHLIGHTS: At September 30, 2021: Comprehensive Investment portfolio* fair value: $2.01 billion Number of portfolio companies: >600* Net assets: $853.5 million Net asset value per share: $20.20 Net debt-to-equity: 0.79x Comprehensive Investment Portfolio Activity** for the Quarter Ended September 30, 2021: Investments made during the quarter: $358.0 million Investments prepaid and sold during the quarter: $260.5 million Operating Results for the Quarter Ended September 30, 2021: Net investment income: $15.0 million Net investment income per share: $0.36 Net realized and unrealized losses: $1.6 million Net increase in net assets from operations: $13.4 million Earnings per share: $0.32 * The Comprehensive Investment Portfolio for the quarter ended September 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. ** Comprehensive Portfolio Activity for the quarter ended September 30, 2021 includes gross originations through SLR-CS, SLR-EF and KBH. “SLRC achieved meaningful portfolio growth during the third quarter, fueled by an attractive sponsor finance environment for cash flow senior secured loans across the healthcare, software and financial services sectors,” said Michael Gross, Co-CEO of SLR Investment Corp. “As a result of our portfolio’s strong foundation and sizable investment pipeline, we expect to achieve further growth in Q4, positioning us for future increases to investment income.” “Elevated levels of investment activity across our investment verticals have continued in the fourth quarter, driving SLRC’s net leve...