Business
WhiteHorse Finance, Inc. Announces Second Quarter 2021 Earnings Results and Declares Quarterly Distribution of $0.355 Per Share
NEW YORK, Aug. 9, 2021 /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, Aug. 9, 2021 /PRNewswire/ -- WhiteHorse Finance, Inc. (\"WhiteHorse Finance\" or the \"Company\") (Nasdaq: WHF) today announced its financial results for the quarter ended June 30, 2021. In addition, the Company's board of directors has declared a distribution of $0.355 per share with respect to the quarter ending September 30, 2021. The distribution will be payable on October 4, 2021 to stockholders of record as of September 20, 2021.\nSecond Quarter 2021 Summary Highlights\nNet Asset Value of $319.6 million, or $15.42 per share Investment portfolio(1) totaling $670.5 million STRS JV investment portfolio totaling $209.5 million Gross investment deployments(2) of $103.8 million for the second quarter, including new originations of $96.3 million and $7.5 million of fundings for add-ons to existing investments Net investment income of $6.1 million, or $0.296 per share Core net investment income of $7.0 million, or $0.338 per share(3) Second quarter distribution of $0.355 per share(1) Includes investments in WHF STRS Ohio Senior Loan Fund LLC (\"STRS JV\"), an unconsolidated joint venture, totaling $61.9 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 Aronson, WhiteHorse Finance's Chief Executive Officer, commented, \"During the second quarter, we successfully originated seven first lien loans and one second lien deal, contributing $96.3 million of gross deployment. T...