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PhenixFIN Corporation (PFX+2.10%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing details PhenixFIN's financial performance, including total investment income of $6.2 million for the quarter, compared to $5.7 million for the same period the previous year. This income was primarily derived from portfolio interest and dividend income.
Operating expenses for the quarter totaled $4.6 million, an increase from $4.0 million in the previous year. The increase was mainly due to higher interest and financing expenses, which rose by 65.2% to $2.5 million.
Net investment income for the quarter was $1.6 million, down from $1.7 million in the previous year. The company recorded a net increase in net assets resulting from operations of $2.5 million, compared to $4.5 million in the previous year.
PhenixFIN's portfolio had a fair market value of approximately $300.1 million as of December 31, 2024, up from $227.9 million as of September 30, 2024. The portfolio primarily consists of senior secured first lien term loans and equity/warrants.
The company reported net realized gains on investments of $1.2 million for the quarter, primarily due to gains on PHH Mortgage Corp. and Chimera Investment Corp.
PhenixFIN's investment portfolio is diversified across various industries, with significant allocations in business services, insurance, and real estate.
The company maintains a revolving credit facility with Woodforest National Bank, with $84.0 million outstanding as of December 31, 2024. The facility has a maturity date of December 15, 2025.
PhenixFIN did not declare any distribution payments during the quarter, but a special dividend of $2,895,785 was declared on February 6, 2025, payable on February 18, 2025.
The filing also notes the company's compliance with regulatory requirements, including maintaining asset coverage ratios and adhering to RIC tax treatment under the Internal Revenue Code.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the PhenixFIN Corporation quarterly 10-Q report dated February 7, 2025. To report an error, please email earnings@qz.com.