Slr Investment Corp Stock Price, News & Analysis

SLR Investment Corp. (NASDAQ: SLRC) announced that its wholly-owned portfolio company, SLR Business Credit (SLR-BC), acquired an asset-based factoring portfolio and operations from Webster Bank's Commercial Services Division on September 27, 2024. The acquisition includes a team of professionals and a seasoned portfolio of approximately $115 million, diversified with loans to long-standing customers.

This marks SLR-BC's fourth acquisition under SLRC's ownership, expanding its portfolio and product offering. The acquisition aligns with SLRC's strategy to capitalize on the shifting commercial bank landscape and expand its specialty finance platform. SLR-BC specializes in making senior secured asset-based loans and factoring to small and medium-sized companies with borrowing needs of $100,000 up to $100 million.

SLR Investment Corp. (NASDAQ: SLRC) reported a net investment income (NII) of $24.3 million, or $0.45 per share, for Q2 2024. The company declared a quarterly distribution of $0.41 per share, payable on September 27, 2024, to holders of record as of September 13, 2024. As of June 30, 2024, the company's net asset value (NAV) was $18.20 per share, stable from $18.19 as of March 31, 2024.

SLRC's investment portfolio had a fair value of $2.1 billion. The company reported net realized and unrealized losses of $1.1 million, or $0.02 per share. The net increase in net assets from operations was $23.2 million, or $0.43 per share. The portfolio is diversified across approximately 800 issuers, with a fair value of $3.1 billion, predominantly invested in senior secured loans.

For the quarter, SLRC had originations of $355.8 million and repayments of $292.7 million. The company's leverage ratio stood at 1.16x net debt-to-equity. Gross investment income totaled $59.0 million, a 4.7% increase YoY, while net expenses were $34.7 million, up by 3.0% YoY.

SLR Capital Partners, a private credit platform specializing in direct lending to U.S. middle market companies, has appointed Scottie Bevill as Senior Advisor. Bevill brings over 30 years of institutional investment experience across public and private markets. He previously led Global Income Strategies for the Teachers' Retirement System of the State of Illinois, overseeing debt and fixed income portfolios for the $65 billion pension plan.

In his new role, Bevill will advise on strategic planning, growth initiatives, and new investment strategies. He will also represent the firm, leveraging his extensive experience and insights. SLR's Co-Founders, Michael Gross and Bruce Spohler, expressed enthusiasm about Bevill's addition to the team, highlighting his potential contribution to SLR's multi-strategy platform expansion.

SLR Investment Corp. (NASDAQ: SLRC) has announced that it will release its financial results for the quarter ended June 30, 2024, on August 7, 2024, after market close.

An earnings conference call and audio webcast will be held on August 8, 2024, at 10:00 a.m. Eastern Time.

Participants can join the call by dialing (800) 267-6316, or (203) 518-9783 for international callers, using Conference ID: SLRC2Q24.

A replay will be available until August 22, 2024, at (800) 839-2418 or (402) 220-7210 for international callers.

The webcast will be accessible from the Event Calendar under the Investors tab on the company's website.

SLR Investment Corp. announced its financial results for the quarter ended March 31, 2024, reporting a net investment income of $0.44 per share and a declared quarterly distribution of $0.41 per share. The Company's NAV increased to $18.19 per share, showcasing solid portfolio credit quality. The investment portfolio fair value stood at $2.1 billion, with net assets of $992.1 million and leverage at 1.16x net debt-to-equity. SLRC's operating results for the quarter included net investment income of $23.9 million, net realized and unrealized gains of $4.0 million, and a net increase in net assets from operations of $27.9 million. The Comprehensive Investment Portfolio, totaling $3.1 billion, spans approximately 800 unique issuers, reflecting a diversified asset composition across various industries. 99.3% of the portfolio was invested in senior secured loans, with a weighted average asset yield of 11.8%. SLR Investment Corp. emphasized a strong asset quality, with 99.4% of the portfolio performing on a fair value basis. The Company's investment income contribution by asset class for the quarter ended March 31, 2024, included sponsor finance, asset-based lending, equipment finance, and life science finance. SLR Investment Corp. also provided insights into its SLR Senior Lending Program , highlighting portfolio growth and quarterly earnings. The Company's financial statements for the quarter ended March 31, 2024, revealed a positive year-over-year increase in gross investment income and net investment income. SLRC maintained a healthy liquidity position, with unsecured debt comprising 40% of funded debt and approximately $800 million in available capital. Leverage stood at 1.16x net debt-to-equity, within the Company's target range. SLR Investment Corp. declared a quarterly distribution of $0.41 per share on May 8, 2024, payable on June 27, 2024. The Company will host an earnings conference call and webcast on May 9, 2024, to discuss its financial results.