Highlights
Fourth quarter total investment income of $6.9 million; net investment income of $1.4 million
Net asset value (NAV) of $160.8 million, or $80.24 per share as of September 30, 2025, vs. $79.37 per share as of September 30, 2024
Weighted average yield was 12.8% on debt and other income producing investments as of the fiscal year end
David Lorber, Chief Executive Officer of the Company, stated:
"Throughout fiscal year 2025, we remained focused on executing our strategy to grow NAV per share and enhance shareholder value. We continued our share repurchase program throughout the year, and in February we paid a special dividend of $1.43 per share. As always, we actively monitor our portfolio and assess potential impacts from economic and market developments. During the quarter, upon First Brands Group's delayed refinancing of the First Lien Term Loan, we quickly sold our entire position at nearly par (95.5), a demonstration of our nimbleness in seeking to protect capital when our investment outlook changes. We look forward to delivering continued value for shareholders in 2026 and beyond."
Selected Fourth Quarter 2025 Financial Results for the Quarter Ended September 30, 2025:
Total investment income was $6.9 million of which $6.7 million was attributable to portfolio interest and dividend income and $0.2 million was attributable to fee and other income.
Total net expenses were $5.5 million and total net investment income was $1.4 million.
The Company recorded a net realized loss of $0.04 million and net unrealized gain of $2.2 million.
Portfolio and Investment Activities for the Quarter Ended September 30, 2025:
The fair value of the Company's investment portfolio totaled $302.3 million and consisted of 36 portfolio companies.
The Company had 1 portfolio company investment on non-accrual status with a fair market value of $0.0 million.
Liquidity and Capital Resources
At September 30, 2025, the Company had $7.3 million in cash and cash equivalents, $59.2 million in aggregate principal amount of its 5.25% unsecured notes due 2028 and $90.0 million outstanding under the Credit Facility.
ABOUT PHENIXFIN CORPORATION
PhenixFIN Corporation is a non-diversified, internally managed closed-end management investment company incorporated in Delaware that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. We completed our initial public offering and commenced operations on January 20, 2011. The Company has elected, and intends to qualify annually, to be treated, for U.S. federal income tax purposes, as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended. Effective January 1, 2021, the Company operates under an internalized management structure.
SAFE HARBOR STATEMENT AND OTHER DISCLOSURES
This press release contains "forward-looking" statements. Such forward-looking statements reflect current views with respect to future events and financial performance, and the Company may make related oral forward-looking statements on or following the date hereof. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements, including among other things, PhenixFIN's ability to deliver value to shareholders, increase investment activity, increase net investment income, implement its investment strategy and achieve its investment objective, source and capitalize on investment opportunities, grow its net asset value and perform well in the prevailing market environment, the ability of our portfolio companies to perform well and generate income and other factors that are enumerated in the Company's periodic filings with the Securities and Exchange Commission. PhenixFIN Corporation disclaims and does not undertake any obligation to update or revise any forward-looking statement in this press release.
Past performance is not a guarantee of future results. The press release contains unaudited financial results. For ease of review, we have excluded the word "approximately" when rounding the results. This press release is for informational purposes only and is not an offer to purchase or a solicitation of an offer to sell shares of PhenixFIN Corporation's common stock. There can be no assurance that PhenixFIN Corporation will achieve its investment objective.
For PhenixFIN investor relations, please call 212-859-0390. For media inquiries, please
PHENIXFIN CORPORATION
Consolidated Statements of Assets and Liabilities
September 30,2025
September 30,2024
Assets:
Investments at fair value
Non-controlled, non-affiliated investments (amortized cost of $139,342,491 and $143,179,354 respectively)
$
145,280,169
$
142,233,426
Affiliated investments (amortized cost of $35,390,223 and $20,564,242, respectively)
35,381,405
14,750,785
Controlled investments (amortized cost of $149,656,451 and $97,016,429, respectively)
121,610,914
70,931,647
Total Investments at fair value
302,272,488
227,915,858
Cash and cash equivalents
7,289,371
67,571,559
Receivables:
Interest receivable
1,203,404
1,313,598
Other receivable
44,971
65,838
Dividends receivable
42,950
23,468
Other assets
2,746,775
1,066,323
Deferred tax asset, net
1,234,847
887,099
Deferred financing costs
1,384,767
760,680
Due from Affiliate
572,331
90,500
Prepaid share repurchase
96,342
101,115
Receivable for investments sold
21,549
2,955,775
Total Assets
$
316,909,795
$
302,751,813
Liabilities:
Credit facility and notes payable (net of debt issuance costs of $1,141,393 and $1,510,815, respectively)
$
148,011,724
$
135,723,636
Accounts payable and accrued expenses
4,226,889
5,570,150
Other liabilities
2,439,405
294,063
Interest and fees payable
1,187,574
