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MidCap Financial Investment Corporation (MFIC-0.07%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes consolidated financial statements, showing total assets of $3,216,032,000 as of September 30, 2024, compared to $2,501,331,000 as of December 31, 2023. The increase in total assets is primarily due to an increase in investments at fair value.
Total liabilities increased to $1,799,809,000 from $1,496,021,000 at the end of the previous year. The increase in liabilities is mainly attributed to an increase in debt.
Net assets for the company were reported at $1,416,223,000, up from $1,005,310,000 at the end of 2023. This increase is due to the net proceeds from the issuance of common stock.
The company's net investment income for the quarter was $38,135,000, compared to $27,897,000 in the same quarter of the previous year.
Net realized and unrealized losses for the quarter were reported at $11,419,000, compared to a gain of $2,066,000 in the same quarter of the previous year.
The company reported a net increase in net assets resulting from operations of $26,716,000 for the quarter, compared to $29,963,000 in the same quarter of the previous year.
Distributions to stockholders for the quarter amounted to $54,392,000, compared to $24,795,000 in the same quarter of the previous year.
The company had $440,140,000 in net proceeds from the issuance of common stock during the quarter, with no repurchase of common stock.
The number of shares issued and outstanding at the end of the period was 93,780,278, compared to 65,253,275 at the end of the previous year.
The filing also details the company's investments across various industries, including healthcare, technology, and consumer services, with a total investment portfolio valued at $3,230,143,000.
The company continues to manage a diverse portfolio of investments, with significant commitments to fund various revolving and delayed draw senior secured and subordinated loans.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the MidCap Financial Investment Corporation quarterly 10-Q report dated November 7, 2024. To report an error, please email earnings@qz.com.