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, Inc. (Nasdaq: WHF) has declared a special distribution of $0.135 per share, set to be paid on December 10, 2021. Stockholders of record as of October 29, 2021 will receive this payment. Distributions may include a return of capital and/or capital gains, with specific tax characteristics reported on Form 1099-DIV post-year-end. The company focuses on originating and investing in loans to privately held, lower middle-market firms across various industries, managed by H.I.G. WhiteHorse Advisers, part of H.I.G. Capital, which oversees over $45 billion in assets.
WhiteHorse Finance reported a net asset value of $319.6 million or $15.42 per share for Q2 2021, an increase from $314.3 million in Q1 2021. The company declared a distribution of $0.355 per share for Q3 2021, payable on October 4, 2021. Net investment income rose 17.3% year-over-year to $6.1 million, while core net investment income increased 34.6% to $7.0 million. Investment activity included $103.8 million in gross deployments. However, net realized and unrealized gains decreased to $4.4 million from $17.6 million in the prior year, reflecting market conditions.
WhiteHorse Finance, Inc. (Nasdaq: WHF) will announce its second quarter financial results for the period ending June 30, 2021, on August 9, 2021, at 1:00 p.m. ET. This financial update will include a conference call discussing the results, which investors can join by dialing 877-876-9174. A replay of the call will be available shortly after through August 16, 2021. The company, managed by H.I.G. Capital, focuses on investing in loans for lower middle market companies, managing approximately $44 billion in assets.
WhiteHorse Finance, Inc. (WHF) reported its financial results for Q1 2021, noting a net asset value of $314.3 million, or $15.27 per share. The investment portfolio totaled $617.0 million, with gross investment deployments of $57.7 million. Net investment income increased by approximately 24.6% year-over-year to $7.6 million ($0.370 per share). The board declared a distribution of $0.355 per share for the quarter ending June 30, 2021, payable on July 2, 2021. Key metrics highlight robust performance, including a significant recovery from the previous year’s losses.
WhiteHorse Finance, Inc. (Nasdaq: WHF) will announce its first quarter financial results for the period ending March 31, 2021, on May 10, 2021. Investors can participate in a teleconference at 1:00 p.m. ET to discuss these results. The call will be accessible via phone and through the company's website, with a replay available two hours post-call until May 24, 2021. WhiteHorse Finance specializes in originating loans to privately held, lower middle market companies across diverse sectors, managed by H.I.G. WhiteHorse Advisers, LLC.
WhiteHorse Finance (WHF) reported its financial results for the year ended December 31, 2020. The net asset value stood at $312.9 million, or $15.23 per share. Total investment portfolio reached $690.7 million, with gross investment deployments of $286.9 million for the year. Net investment income dropped to $24.2 million, a decrease of 22.4% year-over-year. The company declared a distribution of $0.355 per share for Q1 2021, payable on April 5. CEO Stuart Aronson highlighted a record origination volume in Q4 2020 despite market challenges.
WhiteHorse Finance (WHF) will release its fourth quarter and full year financial results for the period ending December 31, 2020 on March 2, 2021. A teleconference will be held at 2:30 p.m. ET to discuss these results. Investors can access the call by dialing 706-758-9224 or via the company's website. A replay will be available until March 9, 2021. WhiteHorse Finance focuses on originating and investing in loans for lower middle-market companies.
On December 7, 2020, H.I.G. Bayside Funds sold 4,863,172 shares of WhiteHorse Finance (WHF) to H.I.G. Bayside Loan Opportunity Fund IV, maintaining control within H.I.G. Capital. This transaction reduces H.I.G. Bayside Funds' stake from 51.25% to 23.67% since March 2019, driven by shareholder input to enhance liquidity. The Legacy Bayside Funds, WhiteHorse's largest shareholder since its IPO in 2012, had to divest due to term expiration. Future sales of WHF shares by Bayside Fund IV are anticipated but not detailed in this release.
WhiteHorse Finance announced the sale of $20 million in notes, consisting of $10 million of 5.375% notes due 2026 and $10 million of 5.625% notes due 2027. The offering is part of a follow-on to a previous $40 million issuance on October 20, 2020. Proceeds will be used for refinancing existing debt and general corporate purposes. The notes are unsecured and interest will be paid semiannually. If the notes lose their investment grade rating, interest rates may increase by 1.0%. Maturities are set for December 2026 and December 2027.
WhiteHorse Finance reported its financial results for Q3 2020, showcasing a net asset value of $314.6 million or $15.31 per share. The company declared a distribution of $0.355 per share for the quarter ending December 31, 2020, payable on January 5, 2021. Despite a 32.2% decline in net investment income year-over-year to $5.9 million, core net investment income stood at $7.8 million. The investment portfolio grew to $595.3 million with a weighted average yield of 9.9%, and a strong pipeline for Q4.
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