MidCap Financial Investment Corporation Reports Financial Results for the Quarter Ended June 30, 2025

Financial Results - The company's net investment income for the quarter ended June 30, 2025, was $0.39 per share, an increase from $0.37 per share for the quarter ended March 31, 2025 [1][7] - The net asset value (NAV) per share decreased to $14.75 as of June 30, 2025, down from $14.93 as of March 31, 2025, representing a decline of 1.2% [1][7] - Total assets increased to $3.46 billion as of June 30, 2025, compared to $3.36 billion as of March 31, 2025 [6] Investment Activity - New investment commitments during the quarter totaled $262 million, with gross fundings (excluding revolver fundings) amounting to $254 million [7] - The company reported net fundings of $144 million for the quarter, with direct origination revolver fundings totaling $35 million and repayments totaling $28 million [4][7] - The company expects to receive a net repayment of approximately $90 million from Merx Aviation Finance, LLC, which will reduce its exposure to Merx to about 2.8% of the total portfolio at fair value [3][7] Dividend Declaration - On August 5, 2025, the Board declared a dividend of $0.38 per share, payable on September 25, 2025, to stockholders of record as of September 9, 2025 [2][7] Debt and Leverage - The company's net leverage ratio was reported at 1.44x as of June 30, 2025, compared to 1.31x as of March 31, 2025 [8] - Outstanding debt obligations totaled $2.05 billion as of June 30, 2025, with a debt-to-equity ratio of 1.49x [8][15] Portfolio Composition - As of June 30, 2025, the portfolio composition included 93% first lien secured debt and 1% common equity/interests and warrants [17][18] - The weighted average yield on the total portfolio was reported at 9.2% [18] Management Changes - The company appointed Kenneth Seifert as Chief Financial Officer and Treasurer, effective June 30, 2025 [7]