MidCap Financial Investment Corporation Reports Financial Results for the Quarter Ended March 31, 2025

Financial Performance - The company's net investment income for Q1 2025 was $0.37 per share, down from $0.40 per share in Q4 2024, representing a decrease of 7.5% [1][6] - The net asset value (NAV) per share as of March 31, 2025, was $14.93, a slight decrease of 0.3% from $14.98 as of December 31, 2024 [1][6] - Total assets increased to $3.36 billion as of March 31, 2025, compared to $3.19 billion at the end of 2024 [5][20] Investment Activity - New investment commitments during the quarter totaled $376 million, with gross fundings (excluding revolver fundings) amounting to $357 million [6][8] - The company made investments totaling $391.9 million in portfolio companies during the quarter, compared to $152.8 million in the same period of the previous year [8] - The number of investments in new portfolio companies increased to 20 from 7 year-over-year [8] Debt and Leverage - The company's outstanding debt as of March 31, 2025, was $1.94 billion, up from $1.75 billion at the end of 2024 [5][15] - The net leverage ratio was reported at 1.31x as of March 31, 2025, indicating an increase in leverage compared to previous periods [6][15] Shareholder Returns - A dividend of $0.38 per share was declared on May 7, 2025, payable on June 26, 2025, to stockholders of record as of June 10, 2025 [2][6] - The company repurchased 476,656 shares at a weighted average price of $12.75 per share during the quarter, totaling $6.1 million [11][12] Portfolio Composition - As of March 31, 2025, 93% of the investment portfolio was in first lien secured debt, maintaining a consistent level compared to previous quarters [17][18] - The weighted average yield on the total debt portfolio was 10.5% as of March 31, 2025, slightly down from 10.8% in the previous quarter [17][18]