WhiteHorse Finance, Inc. Announces Second Quarter 2024 Earnings Results and Declares Quarterly Distribution of $0.385 Per Share

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[{"type":"text","content":"NEW YORK, Aug. 8, 2024 /PRNewswire/ -- WhiteHorse Finance, Inc. (\"WhiteHorse Finance\" or the \"Company\") (Nasdaq: WHF) today announced its financial results for the quarter ended June 30, 2024. In addition, the Company's board of directors has declared a distribution of $0.385 per share with respect to the quarter ended June 30, 2024. The distributions will be payable on October 2, 2024 to stockholders of record as of September 18, 2024. \n\nStuart Aronson, WhiteHorse Finance's Chief Executive Officer, commented, \"Despite some challenges with specific credits and elevated repayment activity, I am pleased to report that WhiteHorse generated another quarter of core net investment income well in excess of our regular dividend. We are generally seeing balanced activity across our portfolio in terms of credit performance and stability with markdowns partially offset by various net markups during the quarter. Based on current market terms and conditions, we are taking a cautious stance and are focused on credits with positive free cash flow, limited cyclicality, and strong owners. This is consistent with the rigorous underwriting standards that we adhere to regardless of market conditions. The broader lending market remains aggressive, favoring borrowers, but we continue to see opportunities in areas of the market where these is less competition. Our pipeline level remains high due in part to our sourcing model, which allows us to source deals in areas of the market where there is less competition.\"\nSummary Information as of June 30, 2024 and March 31, 2024 (unaudited):\nThree Months Ended \nThree Months Ended \nChange\n($ in thousands except per share data)\nJune 30, 2024\nMarch 31, 2024\n$\n%\nTotal investment income\n$\n23,482\n$\n25,475\n(1,993)\n(7.8)\nTotal expenses, including excise tax\n14,190\n14,660\n(470)\n(3.2)\nNet investment income and core net investment income(1)\n9,292\n10,815\n(1,523)\n(14.1)\nNet investment income and core net investment income(1) per share\n0.400\n0.465\n(0.065)\n(14.0)\nDistributions per share\n0.385\n0.385\n-\n-\nNet realized gains (losses)\n(93)\n(5,634)\n5,541\n(98.3)\nNet unrealized appreciation (depreciation)\n(1,360)\n788\n(2,148)\n(272.6)\nNet increase in net assets resulting from operations\n7,839\n5,969\n1,870\n31.3\n($ in thousands except per share data)\nAs of June 30, 2024\nAs of...

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