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.
Brightwood Capital Advisors and PhenixFIN Corporation (NASDAQ: PFX) announced financing for CCP Capital Strategies’ acquisition of Wireless Maritime Services (WMS) from AT&T and Anuvu. WMS, based in Miramar, Florida, specializes in maritime cellular networks. The existing management will continue leading WMS as it operates independently. Brightwood emphasizes growth potential in the technology sector, while PhenixFIN expresses excitement over WMS’s customer growth opportunities. Together, they aim to support WMS’s expansion in maritime connectivity.
PhenixFIN Corporation (NASDAQ: PFX) reported its fiscal Q3 2022 results, showing total investment income of $3.7 million and net investment income of $0.2 million. As of June 30, 2022, net asset value (NAV) stood at $129.1 million, or $58.74 per share, up from $57.08 per share a year earlier. The company noted a weighted average yield to maturity of 9.09% on debt investments. Market volatility led to a net unrealized depreciation of $9.2 million, yet the company maintains confidence in its investments and continues to grow FlexFIN, which has received over $40 million in allocations.
PhenixFIN Corporation (NASDAQ: PFX) reported its fiscal Q2 2022 financial results, highlighting total investment income of $3.7 million and net investment income of $1.2 million. The net asset value (NAV) rose to $138.9 million or $62.94 per share, up 18.9% since September 2021. Operating expenses decreased by 44% since internalization. The company executed a stock buyback, repurchasing 309,427 shares for $12.5 million. As of March 31, 2022, the investment portfolio's fair value was $188.8 million, including six investments on non-accrual status worth $12.8 million.
PhenixFIN Corporation (PFX) announced its financial results for Q1 2022, reporting total investment income of $3.1 million and net investment income of $0.2 million. The net asset value (NAV) increased to $148.5 million, or $58.99 per share, reflecting an 11.4% rise compared to the previous year. Operating expenses significantly declined by 44%, totaling $6.9 million. The company also approved an expansion of its share repurchase program from $15 million to $25 million. Additionally, the fair value of the investment portfolio stood at $175.4 million, with 42 portfolio companies as of December 31, 2021.
PhenixFIN Corporation (NASDAQ: PFX) reported its financial results for Q4 and FY ending September 30, 2021. Total investment income reached $4.4 million, with net investment income of $1.1 million. As of September 30, 2021, the company held $69.4 million in cash and had a net asset value of $143.7 million ($57.08 per share). The company repurchased 141,700 shares for $5.9 million and launched FlexFIN, LLC to provide financing in the jewelry industry. The firm also reported a net capital loss carryforward of $490 million.
PhenixFIN Corporation (NASDAQ: PFX) has announced the pricing of a public offering of $50 million in 5.25% Notes due 2028, with interest payable quarterly starting February 1, 2022. The offering includes an option for underwriters to purchase an additional $7.5 million of Notes for overallotments. The funds will primarily be used to redeem a portion of existing 6.125% Notes due 2023. The Notes are expected to be listed on Nasdaq under the symbol 'PFXNZ' within 30 days following issuance, with the transaction's closing set for around November 15, 2021.
PhenixFIN Corporation (NASDAQ: PFX) announced a public offering of Notes due 2028, expected to list on Nasdaq under the symbol PFXNZ. The offering will be managed by Oppenheimer & Co. and other firms. Proceeds will be used to redeem part of the 6.125% Notes due 2023. Investors should review the preliminary prospectus for details on risks and objectives before investing. The company has registered this offering under SEC's effective shelf registration.
PhenixFIN Corporation (NASDAQ: PFX) announced its Q3 2021 financial results, highlighting a total investment income of $8.7 million and net investment income of $5.4 million. The net asset value (NAV) increased to $156.7 million or $58.49 per share, up from $55.30 per share year-over-year. The company has also executed a share repurchase program, buying back 64,788 shares at an average price of $32.74/share. As of June 30, 2021, PhenixFIN's cash position stood at $52.9 million.
PhenixFIN Corporation (NASDAQ: PFX) reported its fiscal second quarter 2021 results, showing total investment income of $6.5 million and net investment income of $3.7 million. The company had $59.1 million in cash on March 31, 2021, and a net asset value of $151.2 million, equating to $55.91 per share. The period marked the first quarter under an internalized management structure, with a share repurchase program underway, repurchasing 43,988 shares at an average price of $32.52. Significant improvements were noted from the previous fiscal year, including a decrease in net expenses.
PhenixFIN Corporation (NASDAQ: PFX) announced a 10b5-1 Purchase Plan, allowing it to repurchase shares under specific guidelines. An independent broker will execute stock purchases on the open market, particularly increasing buy volume as stock prices decline. The Plan, effective until May 14, 2022, helps the Company navigate insider trading laws while potentially enhancing shareholder value. However, there is no guarantee of stock repurchase amounts, and the Plan can be modified or terminated at any time.
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