PhenixFIN (US:PFX) Newsfilter·2024-12-17 11:05Core Viewpoint - PhenixFIN Corporation reported a strong performance in the fourth quarter of 2024, with significant growth in net asset value (NAV) and successful acquisition of The National Security Group, Inc. (NSG) [2][3]. Financial Performance - Total investment income for the fourth quarter was $5.6 million, with net investment income of $0.5 million [2][4]. - The NAV increased to $160.3 million, or $79.37 per share, reflecting a 12% growth from $70.75 per share as of September 30, 2023 [2][3]. - The weighted average yield on debt and other income-producing investments was 12.3% at the fiscal year-end [2]. Acquisition Details - On October 1, 2024, the company completed the acquisition of approximately 80% of the equity of The National Security Group, Inc., an Alabama-based insurance holding company [2][3]. Investment Portfolio - The fair value of the investment portfolio totaled $227.9 million, consisting of 41 portfolio companies [6]. - There were 3 portfolio company investments on non-accrual status with a fair market value of $2.4 million [6]. Liquidity and Capital Resources - As of September 30, 2024, the company had $67.6 million in cash and cash equivalents, $59.2 million in unsecured notes due 2028, and $78.1 million outstanding under the credit facility [7].