Results for the Quarter Ended September 30, 2024 and Other Recent Highlights
Financial Results
Net investment income per share for the quarter was $0.44, a slight decrease from the previous quarter. The net asset value per share as of the end of the quarter was $15.10, showing a decrease of 0.5% compared to the previous quarter, excluding a special distribution paid to stockholders in connection with the Mergers.
New Investment Commitments
New investment commitments made during the quarter totaled $371 million, indicating a strong growth trajectory for the company.
Mergers
The Company successfully closed the Mergers with Apollo Senior Floating Rate Fund Inc. and Apollo Tactical Income Fund Inc., acquiring investments totaling $596 million. This strategic move has positioned the Company for further growth and expansion in the market.
Dividend Declaration
The Board of Directors declared a dividend of $0.38 per share payable on December 26, 2024, demonstrating the Company’s commitment to delivering value to its stockholders.
Facility Amended and Extended
The Company also announced the amendment and extension of the senior secured, multi-currency, revolving credit facility in October 2024, showcasing its focus on strengthening its financial position.
Impact on Me
As an investor, the financial results and strategic moves of MidCap Financial Investment Corporation indicate a stable and potentially growing investment opportunity. The steady net investment income and new investment commitments highlight the Company’s ability to generate returns for its shareholders.
Impact on the World
The successful Mergers and continued financial performance of MidCap Financial Investment Corporation contribute to the overall stability and growth of the financial market. These results demonstrate the Company’s ability to navigate through challenges and capitalize on opportunities, ultimately benefiting the broader economy.
Conclusion
In conclusion, the financial results for the quarter ended September 30, 2024, and the recent highlights of MidCap Financial Investment Corporation reflect a resilient and forward-thinking company that is well-positioned for future growth. Investors can take confidence in the Company’s performance and strategic initiatives, while the broader market stands to benefit from its stability and contributions to economic growth.
