Core Insights - The company reported a net investment income of $0.44 per share for the quarter ended September 30, 2024, a slight decrease from $0.45 per share for the previous quarter [1] - The net asset value (NAV) per share as of September 30, 2024, was $15.10, reflecting a 0.5% decline compared to June 30, 2024, after accounting for a special distribution of $0.20 per share related to recent mergers [1][3] - The company successfully closed mergers with Apollo Senior Floating Rate Fund Inc. and Apollo Tactical Income Fund Inc., acquiring investments totaling $596 million [1][3] Financial Performance - New investment commitments during the quarter amounted to $371 million, while gross fundings totaled $288 million [1] - The company achieved net fundings of $222 million for the quarter, including revolver fundings [1] - The net leverage ratio was reported at 1.16x as of September 30, 2024, down from 1.45x in the previous quarter [1][5] Dividend Declaration - On November 6, 2024, the Board declared a dividend of $0.38 per share, payable on December 26, 2024, to stockholders of record as of December 10, 2024 [2] Mergers and Acquisitions - The mergers with AFT and AIF were completed on July 22, 2024, with the company being the accounting survivor [3][18] - The mergers were accounted for under the asset acquisition method, resulting in the issuance of 28,527,003 shares of common stock to former AFT and AIF stockholders [19][20] Portfolio and Investment Activity - The total assets of the company as of September 30, 2024, were $3.22 billion, an increase from $2.55 billion as of June 30, 2024 [5][24] - The investment portfolio at fair value was reported at $3.03 billion, up from $2.44 billion in the previous quarter [5] - The company made significant investments in portfolio companies, totaling $911.9 million for the three months ended September 30, 2024 [7][25] Debt and Liquidity - As of September 30, 2024, the company's outstanding debt obligations totaled $1.779 billion, with a significant portion under the Amended Senior Secured Facility [13][14] - The available remaining capacity under the Facility was $697.3 million, subject to compliance with a borrowing base [13] Share Repurchase Program - The company did not repurchase any shares during the three months ended September 30, 2024, but has repurchased a total of 15,593,120 shares since the inception of the program [11]
MidCap Financial Investment Corporation Reports Financial Results for the Quarter Ended September 30, 2024