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WhiteHorse Finance, Inc. Announces Fourth Quarter and Full Year 2021 Earnings Results and Declares Quarterly Distribution of $0.355 Per Share
NEW YORK, March 3, 2022 /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":"NEW YORK, March 3, 2022 /PRNewswire/ -- WhiteHorse Finance, Inc. (\"WhiteHorse Finance\" or the \"Company\") (Nasdaq: WHF) today announced its financial results for the year ended December 31, 2021. In addition, the Company's board of directors has declared a distribution of $0.355 per share with respect to the quarter ending March 31, 2022. The distribution will be payable on April 4, 2022 to stockholders of record as of March 25, 2022.\n\n \n \n \n \n \n \n\n \nFourth Quarter 2021 Summary Highlights\nNet Asset Value of $349.8 million, or $15.10 per share, compared to $15.23 per share in 2020 Investment portfolio(1) totaling $819.2 million STRS JV investment portfolio totaling $259.5 million Gross investment deployments(2) of $199.2 million for the fourth quarter, including new originations of $181.3 million and $17.9 million of fundings for add-ons to existing investments Gross investment deployments (2) of $483.2 million for the year, including new originations of $371.4 million and $111.8 million of fundings for refinancing and add-ons to existing investments Net investment income of $7.5 million, or $0.331 per share, for the fourth quarter Core net investment income of $7.3 million, or $0.322 per share(3) , for the fourth quarter Annual net investment income of $28.8 million, or $1.361 per share Annual core net investment income of $29.7 million, or $1.405 per share (3) Annual distributions of $1.555 per share, including special distribution of $0.135 per shareRecent Developments \nIn February 2022, the Company increased its capital commitment to the STRS JV in the amount of an additional $25 million, which brings the Company's total capital commitment to the STRS JV to $100 million, comprised of $80 million of subordinated notes and $20 million of LLC equity interests. In connection with this increase in the Company's capital commitment, the Company and STRS Ohio's amended economic ownership in the STRS JV is approximately 66.67% and 33.33%, respectively.\nStuart Aronson, WhiteHorse Finance's Chief Executive Officer, commented, \"This past quarter was a record-setting period for capital deployments with WhiteHorse successfully originating 18 new loans deploying a total of $199.2 million. During the fourth quarter, we successfully completed a primary offering resulting in net proceeds of approximately $33.7 million. The pro...