Investment Income - Total investment income for Q3 2024 was $37.3 million, up from $28.8 million in Q3 2023, representing a 29.1% increase[2] - Investment income from non-controlled, non-affiliated investments for Q3 2024 was $37,306,001, a 30% increase from $28,773,690 in Q3 2023[17] - Interest income for the nine months ended September 30, 2024, reached $104,261,540, up from $78,943,113 in the same period of 2023, reflecting a growth of approximately 32%[17] Net Investment Income - Net investment income for Q3 2024 was $15.7 million or $0.48 per share, compared to $14.8 million or $0.57 per share in the same period last year, indicating a decrease of 7.9% in per share income[2] - Net investment income for Q3 2024 was $15,728,731, compared to $14,803,913 in Q3 2023, showing a slight increase of approximately 6%[17] - Basic and diluted net investment income per common share for Q3 2024 was $0.48, down from $0.57 in Q3 2023, a decrease of about 16%[18] Asset and Net Asset Value - Net asset value (NAV) per share decreased to $16.61 as of September 30, 2024, down from $16.85 as of June 30, 2024[2] - Total assets increased to $1,413,552,127 as of September 30, 2024, up from $1,121,814,718 on December 31, 2023, representing a growth of approximately 26%[14] - Net assets rose to $541,937,155 as of September 30, 2024, compared to $461,955,393 at the end of 2023, indicating an increase of about 17%[15] - The net asset value per common share decreased to $16.61 as of September 30, 2024, from $17.04 at the end of 2023, a decline of approximately 2.5%[15] Losses and Expenses - Total net realized and unrealized losses for Q3 2024 were $8.2 million, contrasting with gains of $19.0 million in Q3 2023[2] - Total expenses for Q3 2024 were $21,577,270, compared to $14,244,497 in Q3 2023, marking a rise of about 52%[17] - The net increase in net assets resulting from operations for Q3 2024 was $7,555,185, down from $33,853,088 in Q3 2023, indicating a decrease of about 78%[18] Debt and Commitments - Debt-to-equity ratio increased to 1.52x as of September 30, 2024, compared to 1.49x as of June 30, 2024[2] - The company had $1.8 million in cash and cash equivalents and approximately $824.4 million in total debt outstanding as of September 30, 2024[5] - The company had $19.6 million in unfunded commitments to provide debt financing to its portfolio companies as of September 30, 2024[14] Investment Portfolio - The portfolio consisted of 258 investments in 212 companies with a total fair value of approximately $1.4 billion, with 87.1% in first lien senior secured debt[4] - The weighted average total yield to maturity of debt and income-producing securities at fair value was 10.48%[4] New Investments - Gross investments for the three months ended September 2023 were $66,239,961, a decrease from $78,271,670 in the same period last year, representing a decline of approximately 15.5%[19] - Total new investments for the nine months ended September 2023 amounted to $309,618,619, compared to a loss of $6,032,575 in the same period last year[19] - The number of new investment commitments increased to 21 for the three months ended September 2023, up from 20 in the same period last year[19] - The weighted average interest rate of new investment commitments was 9.07% for the three months ended September 2023, down from 10.00% in the same period last year[19] - The total principal amount of investments sold or repaid for the three months ended September 2023 was $82,822,220, compared to $58,480,713 in the same period last year, an increase of approximately 41.7%[19] - The average new investment commitment amount decreased to $2,717,288 for the three months ended September 2023, down from $2,889,085 in the same period last year[19] - The weighted average maturity for new investment commitments was 5.29 years for the three months ended September 2023, slightly down from 5.61 years in the same period last year[19] - The percentage of new debt investment commitments at floating rates remained at 100.00% for both the three months ended September 2023 and the same period last year[19] - The weighted average spread over reference rate of new floating rate investment commitments was 4.17% for the three months ended September 2023, down from 4.57% in the same period last year[19] - The principal amount of first-lien senior secured debt investments funded was $62,171,592 for the three months ended September 2023, compared to $74,412,920 in the same period last year, a decrease of approximately 16.5%[19] Dividends - The company declared a fourth quarter base dividend of $0.42 per share, payable on January 13, 2025[6]
Palmer Square Capital BDC(PSBD) - 2024 Q3 - Quarterly Results