Welcome to our dedicated page for WhiteHorse Finance news (Ticker: WHF), a resource for investors and traders seeking the latest updates and insights on WhiteHorse Finance stock.
WhiteHorse Finance, Inc. (Nasdaq: WHF) is a non-diversified, closed-end management investment company that focuses on making debt investments in privately held, small-cap companies across the United States. The company's investment objective is to generate attractive risk-adjusted returns for investors, primarily by originating senior secured loans to small-cap companies spanning a broad range of industries. Managed by H.I.G. WhiteHorse Advisers, LLC, an affiliate of H.I.G. Capital, LLC, WhiteHorse Finance leverages its affiliation with a leading global alternative asset manager to source high-quality investment opportunities.
As of June 30, 2023, the fair value of WhiteHorse Finance's investment portfolio was $728.4 million, comprising 116 positions across 70 companies with a weighted average effective yield of 13.4% on income-producing debt investments. The portfolio is predominantly made up of first lien secured loans (81.3%), reflecting the company's conservative investment strategy. The loans are primarily variable rate investments indexed to benchmarks such as the London Interbank Offered Rate and the Secured Overnight Financing Rate, providing resilience in fluctuating interest rate environments.
WhiteHorse Finance recently reported a 34.2% year-over-year increase in net investment income for the quarter ended June 30, 2023, achieving $10.6 million. This performance underscores the company's strategic focus on well-positioned, non-cyclical, or lightly cyclical borrowers. The company continues to benefit from its three-tier sourcing architecture and affiliation with H.I.G. Capital, which provides a strong pipeline of investment opportunities. Furthermore, WhiteHorse Finance's board of directors has declared a distribution of $0.37 per share for the quarter, payable on October 3, 2023, marking the 44th consecutive quarter since its IPO with distributions declared at or above $0.355 per share.
In addition to its core investment activities, WhiteHorse Finance has undertaken several key initiatives, including a public offering of $30 million in notes due 2028, priced at 7.875% and tradable on The Nasdaq Global Select Market under the symbol WHFCL. The company aims to use the proceeds to repay amounts under its existing revolving credit facility and fund new investments. Another highlight is the company's involvement in the WHF STRS Ohio Senior Loan Fund LLC (STRS JV), an unconsolidated joint venture with a fair value of $324.5 million and a weighted average effective yield of 12.2% as of June 30, 2023.
WhiteHorse Finance continues to strategically position its portfolio to mitigate market risks and capitalize on emerging investment opportunities. The company's disciplined approach to credit selection and risk management, coupled with its robust financial performance, positions it well for continued growth and value creation for shareholders.
WhiteHorse Finance (NASDAQ: WHF) provided an update on March 20, 2023, regarding the impact of Silicon Valley Bank (SVB) and Signature Bank (SBNY) on its operations. The company confirmed no direct exposure to these banks, holding no cash or lending agreements with them. However, a small portion of its portfolio, less than 10 companies, has exposure, totaling $60.1 million (7.9% of the portfolio's fair value) as of December 31, 2022. WhiteHorse does not anticipate material adverse effects from these exposures and maintains sufficient liquidity to support its portfolio companies if needed.
WhiteHorse Finance reported financial results for the year ended December 31, 2022, with a net asset value of $332.4 million, or $14.30 per share, down from $15.10 in 2021. The company declared a distribution of $0.355 per share and a special distribution of $0.07 per share for Q1 2023, payable on April 4, 2023. Fourth quarter net investment income was $11.1 million, or $0.476 per share, a significant increase compared to the same period last year. However, the company faced net realized and unrealized losses of $12.3 million for Q4 2022. The total investment portfolio stood at $760.2 million, with 81.3% in first lien secured loans, and the company committed an additional $25 million to its joint venture with STRS Ohio.
WhiteHorse Finance, Inc. (NASDAQ: WHF) will announce its fourth quarter and full year financial results for the year ending December 31, 2022, on March 2, 2023. A conference call will be held at 1:00 p.m. ET to discuss these results. Investors can join the call by dialing 800-245-3047 and referencing ID #WHFQ422. A replay will be available after the call until March 9, 2023. WhiteHorse Finance specializes in investing in loans for lower middle-market companies and is managed by H.I.G. WhiteHorse Advisers, an affiliate of H.I.G. Capital, which oversees over $53 billion of capital across various funds.
WhiteHorse Finance (NASDAQ: WHF) announced an increase in capital commitments to the WHF STRS Ohio Senior Loan Fund LLC joint venture by $25 million, with $15 million from WhiteHorse and $10 million from the State Teachers Retirement System of Ohio. This raises total commitments to $175 million. The WHF STRS JV, established in 2019, focuses on lower middle market senior secured debt facilities. Since inception, its portfolio has grown to over $280 million, consisting of 28 companies with a weighted average yield of 10.1% as of September 30, 2022. CEO Stuart Aronson emphasized the partnership's success and potential for shareholder value enhancement amid current market conditions.
WhiteHorse Finance (WHF) reported its financial results for Q3 2022, showcasing a net asset value of $343 million or $14.76 per share. The investment portfolio stood at $764.6 million with $39.5 million in gross investment deployments. Net investment income rose to $9.8 million, a 28.9% increase year-over-year. The board declared a distribution of $0.355 per share for Q4 2022, payable on January 4, 2023. Despite net realized and unrealized losses of $5.9 million, the company maintains a strong investment pipeline and a cautious approach amidst economic challenges.
WhiteHorse Finance announced a special distribution of $0.05 per share, payable on December 9, 2022, for stockholders of record by October 31, 2022. This distribution may include a return of capital and will be detailed in Form 1099-DIV.
The company will release its third-quarter financial results for the period ending September 30, 2022 on November 14, 2022, with a conference call scheduled for 1:00 p.m. ET.
WhiteHorse Finance (WHF) reported financial results for the quarter ending June 30, 2022, achieving a net investment income of $7.9 million, up 29.5% from the previous year. The net asset value stood at $347.4 million, or $14.95 per share, while the investment portfolio totaled $766.5 million. The Company declared a distribution of $0.355 per share for the quarter ending September 30, 2022, payable on October 4, 2022. Despite challenges, the diversified portfolio performed well with no investments on non-accrual status and nearly all debt investments indexed to floating rates, positioning the Company for potential earnings growth.
WhiteHorse Finance will release its second quarter financial results for the period ending June 30, 2022, on August 10, 2022. A conference call is scheduled for 1:00 p.m. ET to discuss these results. Investors can access the call by dialing 800-459-5346 or via the Company's website. A replay will be available for those unable to attend live. WhiteHorse Finance focuses on loans to privately held, lower middle market companies, managed by H.I.G. WhiteHorse Advisers, a significant player in the alternative asset management space.
WhiteHorse Finance reported Q1 2022 financial results, highlighting a net asset value of $347.9 million or $14.99 per share. The investment portfolio stands at $800.4 million, with gross deployments of $83.6 million, marking a record for Q1. Net investment income reached $8.5 million, or $0.368 per share, an increase from the previous year. The company declared a distribution of $0.355 per share, payable on July 5, 2022. The organization’s floating rate debt strategy positions it well for a rising interest rate environment.
WhiteHorse Finance, Inc. (Nasdaq: WHF) reported a significant portfolio update for Q1 2022. The company deployed approximately $86.1 million, while sales and repayments totaled around $47.7 million. Following these transactions, total investments at fair value decreased to about $800 million. Notably, a realization from Grupo HIMA San Pablo, Inc. resulted in a $6.9 million net loss, equating to a loss of 29.8 cents per share. The company will release its Q1 financial results on May 10, 2022.
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