Business
WhiteHorse Finance, Inc. Announces Fourth Quarter and Full Year 2019 Earnings Results
NEW YORK, March 2, 2020 /PRNewswire/ -- WhiteHorse Finance, Inc. ("WhiteHorse Finance" or the "Company") (NASDAQ: WHF) today announced its financial results
About this update from Whitehorse Finance, Inc.
[{"type":"text","content":"\n \n NEW YORK, March 2, 2020 /PRNewswire/ -- WhiteHorse Finance, Inc. (\"WhiteHorse Finance\" or the \"Company\") (NASDAQ: WHF) today announced its financial results for the year ended December 31, 2019. \nFourth Quarter 2019 Summary Highlights\nNet Asset Value of $313.0 million, or $15.23 per share, compared to $15.35 per share in 2018 Investment portfolio(1) totaling $589.7 million STRS JV investment portfolio totaling $97.3 million Gross investment deployments(2) of $150.6 million for the fourth quarter, including new originations of $137.8 million and $12.8 million of fundings for add-ons to existing investments Gross investment deployments(2) of $358.2 million for the year, including new originations of $288.6 million and $69.6 million of fundings for refinancings and add-ons to existing investments Net investment income of $7.7 million, or $0.375 per share, for the fourth quarter Core net investment income of $7.9 million, or $0.385 per share(3), for the fourth quarter Annual net investment income of $31.2 million, or $1.518 per share Annual core net investment income of $31.1 million, or $1.515 per share(3) Annual distributions of $1.615 per share, including special distributions of $0.195 per share(1) Includes investments in WHF STRS Ohio Senior Loan Fund LLC (\"STRS JV\"), an unconsolidated joint venture, totaling $33.3 million, at fair value.\n(2) Excludes investments made in STRS JV. \n(3) Core net investment income is a non-GAAP financial measure. The Company believes that core net investment income provides useful information to investors and management because it reflects the Company's financial performance excluding (i) the net impact of costs associated with the refinancing of the Company's indebtedness, (ii) the accrual of the capital gains incentive fee attributable to net realized and unrealized gains and losses, and (iii) excise and other income taxes related to such net realized gains and losses (net of incentive fees). The presentation of this additional information is not meant to be considered in isolation or as a substitute for financial results prepared in accordance with GAAP. Additional information on core net investment income and a reconciliation of core net investment income to its most directly comparable GAAP financial measure, net investment income, are set forth in Schedule 1 hereto.\nStuart A...