Highlights
Second quarter total investment income of $5.2 million; net investment income of $0.7 million
Net asset value (NAV) of $153.8 million, or $79.56 per share as of March 31, 2026
Weighted average yield was 13.1% on debt and other income producing investments
Effective May 5, 2026, the Board declared a special dividend of $0.07 per share to be paid on May 28, 2026, to stockholders of record as of May 18, 2026
David Lorber, Chief Executive Officer of the Company, stated:
"While volatility and uncertainty are elevated in the markets, specifically in private credit, we continue to underwrite with a disciplined approach and engage in active portfolio management. Our overall portfolio was stable throughout the quarter. Our investment strategy is generally focused on asset-oriented industries. In addition, during the quarter we returned capital to our shareholders through our share buyback program, having repurchased 66,396 shares or 3.3% of our shares outstanding."
Selected Second Quarter 2026 Financial Results for the Quarter Ended March 31, 2026:
Total investment income was $5.2 million of which $5.0 million was attributable to portfolio interest and dividend income and $0.2 million was attributable to fee and other income.
Total net expenses were $4.5 million and total net investment income was $0.7 million.
The Company recorded a net realized loss of $1.1 million and net unrealized gain of $1.7 million.
Portfolio and Investment Activities for the Quarter Ended March 31, 2026:
The fair value of the Company's investment portfolio totaled $295.8 million and consisted of 32 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 March 31, 2026, the Company had $3.1 million in cash and cash equivalents, $57.5 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 contact [email protected].
PHENIXFIN CORPORATIONConsolidated Statements of Assets and Liabilities
March 31,2026(Unaudited)
September 30,2025
Assets:
Investments at fair value
Non-controlled, non-affiliated investments (amortized cost of $128,237,811 and $139,342,491, respectively)
$
130,033,295
$
145,280,169
Affiliated investments (amortized cost of $37,828,011 and $35,390,223, respectively)
36,776,004
35,381,405
Controlled investments (amortized cost of $157,346,334 and $149,656,451, respectively)
129,001,392
121,610,914
Total Investments at fair value
295,810,691
302,272,488
Cash and cash equivalents
3,074,794
7,289,371
Receivables:
Interest receivable
1,303,922
1,203,404
Other receivable
-
44,971
Dividends receivable
64,800
42,950
Other assets
2,537,376
2,746,775
Deferred tax asset, net
727,925
1,234,847
Deferred financing costs
1,232,943
1,384,767
Due from Affiliate
275,173
572,331
Prepaid share repurchase
115,969
96,342
Receivable for investments sold
431,184
21,549
Total Assets
$
305,574,777
$
316,909,795
Liabilities:
Credit facility and notes payable (net of debt issuance costs of $864,414 and $1,141,393, respectively)
$
146,627,205
$
148,011,724
Accounts payable and accrued expenses
1,329,714
4,226,889
Other liabilities
2,499,673
2,439,405
Interest and fees payable
1,131,408
1,187,574
Taxes payable
48,137
137,538
Due to Affiliate
126,936
132,365
Total Liabilities
151,763,073
156,135,495
Commitments and Contingencies (see Note 8)
Net Assets:
Common Shares, $0.001 par value; 5,000,000 shares authorized; 2,723,709 shares issued;
