Welcome to our dedicated page for MidCap Financial Investment Corporation news (Ticker: MFIC), a resource for investors and traders seeking the latest updates and insights on MidCap Financial Investment Corporation stock.
MidCap Financial Investment Corporation Common Stock (MFIC) is a publicly traded, diversified management investment company focused on generating current income and long-term capital appreciation. Managed externally, MidCap Financial primarily invests in directly originated and privately negotiated first lien senior secured loans to U.S. middle-market companies. Their portfolio also includes first lien unitranche, second lien senior secured, unsecured, subordinated, and mezzanine loans, as well as equity investments in both private and public middle-market firms.
MidCap Financial is dedicated to supporting the growth of middle-market companies through customized financing solutions. By leveraging their deep industry knowledge and strong relationships, they provide tailored financial solutions to their clients. The company also engages in other investment activities to diversify and optimize their returns.
Recent financial highlights reflect MidCap Financial's robust activity within the corporate lending market. As of the quarter ended March 31, 2024, corporate lending revolver fundings totaled $24 million, while repayments amounted to $37 million, and the company received a $4 million revolver paydown from Merx Aviation Finance, LLC. The net leverage ratio, calculated as debt outstanding plus payable for investments purchased, less receivable for investments sold, less cash and cash equivalents, less foreign currencies, divided by net assets, remains within the company’s target range, showcasing disciplined financial management.
MidCap Financial continues to enhance shareholder value through regular dividends, with the most recent dividend payable on June 27, 2024, to stockholders of record as of June 11, 2024. The company’s investment strategy has consistently aimed at risk-adjusted returns, prioritizing capital preservation and sustainable income generation.
With a clear focus on the U.S. middle-market sector, MidCap Financial is well-positioned to capitalize on growth opportunities while maintaining a disciplined investment approach. Their commitment to transparency and strategic market positioning makes them a reliable choice for investors seeking stable income and potential capital appreciation.
MidCap Financial Investment (MFIC) reported financial results for Q3 2024. Net investment income was $0.44 per share, down from $0.45 in Q2 2024. Net asset value per share decreased 0.5% to $15.10. The company made $371 million in new investment commitments and completed mergers with AFT and AIF, acquiring investments totaling $596 million. The Board declared a dividend of $0.38 per share payable December 26, 2024. The company also amended and extended its senior secured credit facility, increasing total lender commitments to $1.815 billion.
MidCap Financial Investment (NASDAQ: MFIC) has announced the amendment and extension of its senior secured, multi-currency, revolving credit facility. Key points include:
- Total lender commitments increased by $110 million to $1.660 billion, excluding non-extending lender commitments
- Including non-extending lender commitments, total commitments are $1.815 billion
- Final maturity date extended from April 19, 2028, to October 17, 2029, for extending lenders
- $155 million in commitments from non-extending lenders set to terminate on December 22, 2024
- Material business terms remain substantially the same
JPMorgan Chase Bank, N.A., Truist Securities, Inc., BMO Capital Markets Corp., and MUFG Bank, are Joint Bookrunners and Joint Lead Arrangers. JPMorgan Chase Bank, N.A is the Administrative Agent.
MidCap Financial Investment (NASDAQ: MFIC) has announced its schedule for reporting Q3 2024 results. The company will release its earnings report for the quarter ended September 30, 2024, before the Nasdaq Global Select Market opens on Thursday, November 7, 2024. Following the release, MFIC will host a conference call at 8:30 a.m. Eastern Time on the same day.
Interested parties can join the call by dialing (800) 343-4136 (US) or (203) 518-9843 (international), referencing MidCap Financial Investment Earnings or Conference ID: MFIC1107. A simultaneous webcast will be available on the company's website. After the call, a replay will be accessible via phone until November 28, 2024, and via audio webcast on the company's website.
MidCap Financial Investment (NASDAQ: MFIC) reported financial results for Q2 2024. Key highlights include:
- Net investment income of $0.45 per share, up from $0.44 in Q1 2024
- Net asset value of $15.38 per share, down slightly from $15.42 in Q1
- New investment commitments of $285 million
- Net fundings of $90 million
- Net leverage ratio of 1.45x
- Declared dividend of $0.38 per share
The company also completed mergers with Apollo Senior Floating Rate Fund and Apollo Tactical Income Fund, increasing net assets by 43.7% to $1.45 billion and portfolio size to $3.07 billion. This reduced the net leverage ratio to 1.13x and created more investment capacity.
MidCap Financial Investment (NASDAQ: MFIC) has completed its mergers with Apollo Senior Floating Rate Fund Inc. (NYSE: AFT) and Apollo Tactical Income Fund Inc. (NYSE: AIF). The combined company will operate as MFIC and continue trading on Nasdaq. Former AFT stockholders will receive 0.9547 MFIC shares per AFT share, while former AIF stockholders will receive 0.9441 MFIC shares per AIF share.
Post-merger, legacy MFIC stockholders own 69.6%, former AFT 15.8%, and former AIF 14.6% of the combined company. Key financial highlights include $3.07 billion in investments at fair value, $1.45 billion in net assets, and a 1.13x net leverage ratio. MFIC's Board declared a special distribution of $0.20 per share, payable on August 15, 2024, to stockholders of record as of August 5, 2024.
MidCap Financial Investment (NASDAQ: MFIC) has announced its schedule for reporting Q2 2024 earnings. The company will release its results for the quarter ended June 30, 2024, after the Nasdaq Global Select Market closes on Wednesday, August 7, 2024. A conference call is scheduled for Thursday, August 8, 2024, at 8:30 a.m. Eastern Time.
Interested parties can join the call by dialing (800) 343-5172 (US) or (203) 518-9856 (international). The call's reference is MidCap Financial Investment Earnings or Conference ID: MFIC0808. A simultaneous webcast will be available on the company's website. A replay of the call will be accessible via phone until August 29, 2024, and via audio webcast on the company's website.
Apollo Senior Floating Rate Fund and Apollo Tactical Income Fund have announced stockholder approval for their mergers with MidCap Financial Investment
At the special meetings on June 21, 2024, approximately 88% of AFT and 87% of AIF shares represented voted in favor, which is about 53% of each fund's outstanding shares.
MidCap Financial Investment 's stockholders had already approved the merger on May 28, 2024.
The mergers are set to close in late July 2024, pending customary conditions. Post-merger, the surviving entity will trade on the Nasdaq under the ticker 'MFIC'.
Stockholders of AFT and AIF will receive MFIC shares equal to their current NAV, adjusted for any undistributed income and gains.
MidCap Financial Investment (NASDAQ: MFIC) announced stockholder approval for proposed mergers with Apollo Senior Floating Rate Fund (NYSE: AFT) and Apollo Tactical Income Fund (NYSE: AIF). These mergers were previously announced, and further approval is needed. Both AFT and AIF have adjourned their Special Meetings to June 21, 2024, to allow more time for stockholder voting. Currently, 47.08% of AFT and 46.02% of AIF stockholders have voted in favor. Institutional Shareholder Services (ISS) and Glass Lewis recommend voting 'FOR' the proposals. Broadridge Financial Solutions is assisting in vote solicitation.
MidCap Financial Investment (MFIC) reported financial results for the quarter ended March 31, 2024. Net investment income per share was $0.44, compared to $0.46 in the previous quarter. Net asset value per share was $15.42 at the end of the quarter. New investment commitments totaled $149 million. The company declared a dividend of $0.38 per share. Filed a joint proxy statement for proposed mergers with Apollo funds. CEO highlighted stable credit performance and de-risking. Conference call scheduled for May 8, 2024.
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