Core Viewpoint - PennantPark Floating Rate Capital Ltd. reported its financial results for the third fiscal quarter ended June 30, 2025, highlighting growth in net investment income and portfolio activity despite a slight decline in net asset value per share [1][2]. Financial Results - The investment portfolio totaled $2,403.5 million, with net assets at $1,087.5 million and a net asset value per share of $10.96, reflecting a quarterly change of -1.0% [2]. - Net investment income for the quarter was $24.6 million, or $0.25 per share, compared to $21.2 million, or $0.31 per share, for the same period in 2024 [17]. - Total investment income for the quarter was $63.5 million, up from $48.5 million in the previous year, primarily due to an increase in the size of the debt portfolio [15]. Portfolio Activity - The company invested $208.1 million in new and existing portfolio companies during the quarter, with a weighted average yield on debt investments of 10.1% [8]. - As of June 30, 2025, the portfolio consisted of 155 companies with an average investment size of $15.5 million and a weighted average yield on debt investments of 10.4% [6]. - The company announced the formation of a new joint venture, PSSL II, with Hamilton Lane, aimed at investing in middle-market loans [32][33]. Debt and Financing - The company amended its credit facility in April 2025, reducing pricing and extending the reinvestment period and maturity date [24]. - As of June 30, 2025, the company had $419.1 million of unused borrowing capacity under the credit facility [23]. - The annualized weighted average cost of debt was 7.0% for the nine months ended June 30, 2025, compared to 7.3% for the same period in 2024 [23]. Distributions - Distributions declared per share for the quarter were $0.31, totaling $30.5 million, compared to $21.0 million for the same period in 2024 [31].

Core Insights - Portman Ridge Finance Corporation completed its merger with Logan Ridge Finance Corporation, enhancing its scale with total assets exceeding $600 million as of July 11, 2025 [5][8] - The company reported net investment income of $4.6 million, or $0.50 per share, for the second quarter of 2025, an increase from $4.3 million, or $0.47 per share, in the previous quarter [7][10] - A quarterly base distribution of $0.47 per share and a supplemental distribution of $0.02 per share were announced for the third quarter of 2025 [5][10] Financial Performance - Total investment income for the second quarter of 2025 was $12.6 million, up from $12.1 million in the first quarter of 2025 [5][10] - Net asset value (NAV) as of June 30, 2025, was $164.7 million, or $17.89 per share, compared to $173.5 million, or $18.85 per share, as of March 31, 2025 [5][10] - The company experienced net repayments and sales of approximately $6.1 million during the quarter, with deployments of about $10.9 million and sales and repayments of approximately $17.0 million [5][10] Investment Portfolio - The investment portfolio at fair value as of June 30, 2025, was $395.1 million, comprised of 96 different portfolio companies [10][12] - The debt investment portfolio, excluding investments in CLO Funds, equities, and joint ventures, totaled $323.1 million at fair value, spread across 25 different industries [10][12] - As of June 30, 2025, debt investments on non-accrual represented 2.1% of the company's investment portfolio at fair value [10][12] Merger and Rebranding - The merger with Logan Ridge is viewed as a transformational milestone, expected to provide increased scale, broader portfolio diversification, and enhanced financial flexibility [8][9] - Following the merger, the company will rebrand as BCP Investment Corporation and trade under the new ticker symbol "BCIC" [5][9] - The merger is anticipated to deliver compelling risk-adjusted returns for shareholders through cost savings and improved stock trading liquidity [5][8] Management Commentary - The CEO emphasized the focus on maintaining a high-quality portfolio and delivering long-term value to shareholders [7][8] - The company aims to leverage its enhanced scale and diversified portfolio to support stronger operating efficiency and improved shareholder outcomes over time [8][9]

Core Viewpoint - Great Elm Capital Corp. reported a strong second quarter for 2025, achieving record total investment income and net investment income (NII) that surpassed its increased quarterly distribution, driven by robust cash generation and solid performance from its investments [3][6]. Financial Highlights - Total investment income for Q2 2025 was a record $14.3 million, with cash income making up over 90% of this total [6]. - NII for Q2 2025 was $5.9 million, or $0.51 per share, compared to $4.6 million, or $0.40 per share, in Q1 2025, marking a significant increase [6][9]. - The net asset value (NAV) per share increased to $12.10 as of June 30, 2025, up from $11.46 at the end of Q1 2025, primarily due to unrealized gains on investments [6][9]. - The company declared a quarterly dividend of $0.37 per share for Q3 2025, reflecting a 13.5% annualized yield based on the closing price of $10.98 on August 1, 2025 [12]. Portfolio and Investment Activity - As of June 30, 2025, GECC held total investments valued at $335.1 million, with 55 debt investments in corporate credit totaling approximately $197.3 million, representing 58.9% of the fair market value of total investments [5][6]. - The weighted average current yield on the debt portfolio was 12.5%, with floating rate instruments comprising about 73% of the fair market value of debt investments [7]. - During Q2 2025, GECC deployed approximately $22.6 million into 26 investments at a weighted average current yield of 14.1% [7]. Management Commentary - The CEO highlighted the company's strong momentum in 2025, emphasizing the record NII and the expectation that NII will continue to exceed distributions for the full year despite anticipated fluctuations in cash flows from the CLO joint venture [3]. - The company plans to monitor the macro environment closely and seek capital deployment opportunities that offer compelling risk-adjusted returns [3]. Liquidity and Capital Resources - As of June 30, 2025, GECC had cash and money market fund investments totaling approximately $4.4 million, along with $19.0 million available under its $25.0 million revolving line of credit [10]. - Total debt outstanding was $201.4 million, which includes various senior notes and amounts drawn from the revolving credit facility [11]. Earnings Per Share Data - The earnings per share (EPS) for Q2 2025 was $1.02, a significant increase from a loss of $0.14 in Q2 2024 [4][23]. - The NII per share for Q2 2025 was $0.51, compared to $0.32 in Q2 2024 [4][23]. Conference Call and Webcast - The company will host a conference call and webcast on August 5, 2025, to discuss these results in detail [13][15].

Group 1 - Oxford Square Capital Corp. will hold a conference call to discuss second quarter 2025 earnings on August 7, 2025, at 9:00 AM Eastern time [1] - The toll-free dial-in number for the conference call is 1-800-549-8228, and the conference identification number is 03418 [1] - A recording of the call will be available for 30 days after the event, with the replay pass-code number being 03418 [1] Group 2 - Oxford Square Capital Corp. is a publicly-traded business development company that primarily invests in syndicated bank loans [2] - The company also invests in debt and equity tranches of collateralized loan obligation (CLO) vehicles, including warehouse facilities [2] - Warehouse facilities are financing structures designed to aggregate loans that may be used to form the basis of a CLO vehicle [2]

Core Viewpoint - Oxford Square Capital Corp. has announced a public offering of $65 million in unsecured notes with a 7.75% interest rate, maturing on July 31, 2030, with the option for early redemption starting July 31, 2027 [1][2]. Group 1: Offering Details - The offering is expected to close on August 7, 2025, and includes an option for underwriters to purchase an additional $9.75 million in notes [2]. - The notes will be listed on the NASDAQ Global Select Market under the trading symbol "OXSQH" [2]. Group 2: Use of Proceeds - The net proceeds from the offering will be used to repay existing indebtedness, acquire investments, and for general corporate purposes [3]. Group 3: Company Overview - Oxford Square Capital Corp. is a publicly-traded business development company that primarily invests in syndicated bank loans and, to a lesser extent, in debt and equity tranches of collateralized loan obligation (CLO) vehicles [6].

Core Viewpoint - Oxford Square Capital Corp. has announced a registered public offering of notes, with terms to be determined through negotiations with underwriters [1] Group 1: Offering Details - The public offering price and terms of the notes will be negotiated between the company and the underwriters [1] - The company plans to grant underwriters a 30-day option to purchase additional notes to cover over-allotments [1] - The notes are expected to be listed on the NASDAQ Global Select Market and to begin trading within 30 days of the original issue date [2] Group 2: Use of Proceeds - The net proceeds from the offering are expected to be used for repaying indebtedness, acquiring investments in line with the company's investment objectives, and for general corporate purposes [2] Group 3: Management and Underwriters - Lucid Capital Markets, LLC and Piper Sandler & Co. are acting as joint book-running managers for the offering [3] - Clear Street LLC, InspereX LLC, Janney Montgomery Scott LLC, and William Blair & Company, L.L.C. are serving as lead managers for the offering [3] Group 4: Company Overview - Oxford Square Capital Corp. is a publicly-traded business development company that primarily invests in syndicated bank loans and, to a lesser extent, in debt and equity tranches of collateralized loan obligation (CLO) vehicles [6] - CLO investments may also include warehouse facilities, which are financing structures used to aggregate loans for CLO vehicles [6]

Core Points - Great Elm Capital Corp. (GECC) will release its financial results for Q2 2025 on August 4, 2025, after market close [1] - A conference call to discuss the results is scheduled for August 5, 2025, at 8:30 a.m. ET [2] - Participants can access the call by dialing in five minutes before the start time and using the passcode "GECC" [3] - The call will also be available via a simultaneous webcast on GECC's website [4] - GECC is a business development company focused on generating income and capital appreciation through investments in debt and income-generating equity securities [5]

Company Announcement - WhiteHorse Finance, Inc. will release its second quarter financial results for the period ended June 30, 2025, on August 7, 2025 [1] - A conference call to discuss the financial results will take place on the same day at 2:00 p.m. ET [1] Teleconference Access - Investors can access the teleconference by dialing 800-267-6316 (domestic) or +1 203-518-9783 (international) approximately 10 minutes before the scheduled start time, referencing ID WHFQ225 [2] - A replay of the teleconference will be available starting approximately two hours after the call's completion through August 7, 2025 [3] Company Overview - WhiteHorse Finance is a business development company that originates and invests in loans to privately held, lower middle market companies across various industries [4] - The investment activities of the company are managed by H.I.G. WhiteHorse Advisers, LLC, an affiliate of H.I.G. Capital, which manages over $70 billion of capital across multiple funds focused on small and mid-cap markets [4]

Core Insights - The article emphasizes the importance of a hybrid investment strategy that combines classic dividend growth stocks with Business Development Companies, REITs, and Closed End Funds to enhance investment income while achieving total returns comparable to traditional index funds [1]. Investment Strategy - The company advocates for a balanced approach to investing, suggesting that a solid base of dividend growth stocks can be effectively supplemented with other asset types to maximize income potential [1]. - The strategy aims to achieve a total return that aligns with the performance of the S&P index, indicating a focus on both growth and income [1].

Core Viewpoint - Capital Southwest Corporation has announced preliminary operating results for the first quarter of its 2026 fiscal year, indicating positive financial performance and upcoming earnings release details [1][4]. Financial Performance - The preliminary estimate of pre-tax net investment income for the first quarter of 2026 is projected to be between $0.60 and $0.61 per share [2]. - The estimated net investment income for the same period is expected to range from $0.58 to $0.59 per share [2]. - The preliminary estimate of net asset value per share as of June 30, 2025, is between $16.55 and $16.65 [3]. - Non-accruals as a percentage of the total investment portfolio are estimated at 2.6% at cost and 0.8% at fair value [3]. Upcoming Events - Capital Southwest will finalize and release its first quarter 2026 results on August 6, 2025, after market close [4]. - A live webcast for investors is scheduled for August 7, 2025, at 1:00 p.m. Eastern Time [4]. Company Overview - Capital Southwest Corporation is a Dallas-based business development company with approximately $1.8 billion in investments at fair value as of March 31, 2025 [7]. - The company focuses on providing flexible financing solutions to support the acquisition and growth of middle market businesses, with investments ranging from $5 million to $50 million [7].