Welcome to our dedicated page for PhenixFIN Corporation news (Ticker: PFX), a resource for investors and traders seeking the latest updates and insights on PhenixFIN Corporation stock.
PhenixFIN Corporation Common Stock (symbol: PFX) represents shares in PhenixFIN Corporation, a non-diversified, closed-end management investment company based in the United States. Formerly known as Medley Capital Corp, the company has its headquarters at 375 Park Avenue, New York, New York.
The primary mission of PhenixFIN is to generate current income and achieve capital appreciation. This is accomplished by providing direct loans to privately held middle-market companies to support their growth, refinancing, and acquisition activities. The company's investment portfolio includes a broad range of financial instruments such as senior secured first lien term loans, senior secured second lien term loans, unitranche loans, senior secured first lien notes, subordinated notes, warrants, and minority equity securities.
PhenixFIN also holds the capability to invest in the securities of foreign companies, diversifying its investment strategy beyond domestic borders. The revenue generated by the company primarily comprises interest income, dividends, and other earnings derived from its various investments.
Recent achievements highlight a robust financial condition. For the fiscal year ending 2023, PhenixFIN reported a significant 23% year-over-year growth in its Net Asset Value (NAV) per share. Moreover, the Net Investment Income (NII) per share more than doubled, showcasing the company's effective investment strategies and financial management.
In terms of latest developments, NAV per share also saw a 23% increase compared to the first quarter of 2023, reflecting the company's consistent performance and commitment to its investment objectives.
The company's operations span all sectors, ensuring a well-rounded and diversified investment portfolio. This approach not only mitigates risk but also maximizes potential returns for shareholders. PhenixFIN's strategic partnerships and investments continue to drive its mission of supporting middle-market companies while delivering value to its stakeholders.
PhenixFIN (PFX) reported strong fiscal year 2024 results, highlighting a 12% year-over-year growth in NAV per share from $70.75 to $79.37. The fourth quarter showed total investment income of $5.6 million and net investment income of $0.5 million. The company's investment portfolio reached $227.9 million across 41 companies, with a weighted average yield of 12.3% on debt investments.
A significant milestone was achieved with the acquisition of approximately 80% equity in The National Security Group (NSG), an Alabama-based insurance holding company, completed on October 1, 2024. The company's financial position includes $67.6 million in cash, $59.2 million in unsecured notes due 2028, and $78.1 million outstanding under the Credit Facility.
Brightwood Capital Advisors and PhenixFIN (NASDAQ: PFX) have partnered with Insight Equity to provide senior secured credit and preferred equity facilities for refinancing MB Precision Investment Holdings The company, operating as Midstate Machine, is a provider of high-precision components for aerospace, defense, and industrial sectors, with facilities in Maine, Ohio, and Arizona. Jim Ashton, former CEO of Precision Partners, will join the company's board. The refinancing aims to support Precision's growth initiatives and enhance its service offerings, though financial terms were not disclosed.
PhenixFIN (NASDAQ: PFX) announced its fiscal third quarter 2024 financial results, highlighting strong performance. Key points include:
- Total investment income of $6.2 million
- Net investment income of $2.0 million
- NAV of $154.2 million, or $76.35 per share
- Weighted average yield of 13.8% on debt and income-producing investments
- Credit Facility expanded to $87.5 million
- Special dividend of $1.31 per share paid on June 10, 2024
The company reported a 14% growth in NAV per share over the last 12 months, accounting for the special dividend distribution. CEO David Lorber noted strong credit fundamentals and increased investment activity, positioning the company for potential NAV per share growth.
PhenixFIN (NASDAQ: PFX, PFXNZ) reported a strong fiscal second quarter of 2024 with a net asset value (NAV) growth of 22% over the last 12 months. The company's total investment income was $4.7 million, with a net investment income of $0.6 million. They repurchased 40,000 shares and increased their Credit Facility to $62.5 million. The Board of Directors declared a special dividend of $1.31 per share. The fair value of the investment portfolio was $220.0 million, consisting of 41 portfolio companies.
PhenixFIN Corporation (NASDAQ: PFX) announced an Investor Call scheduled for March 8, 2023, at 10:00 AM Eastern Time. Investors can access a live webcast and supporting materials on the company's Investor Relations website. A replay of the call will be available for 90 days following the event. PhenixFIN operates under an internalized management structure as a business development company and has been publicly traded since its IPO on January 20, 2011. The company aims to qualify as a regulated investment company for federal income tax purposes annually.
PhenixFIN Corporation (NASDAQ: PFX) reported its fiscal first quarter 2023 results, highlighting a total investment income of $4.7 million and net investment income of $1.7 million. As of December 31, 2022, the company's net asset value (NAV) was $124.7 million, translating to $59.38 per share. The firm secured a $50 million credit facility with Woodforest National Bank at SOFR + 2.90% and demonstrated a weighted average yield of 11.3% on debt investments. Subsequent events included redeeming $22.5 million in unsecured notes and expanding the share repurchase program to $35 million, reflecting a commitment to enhancing shareholder value.
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