Rand Capital(US:RAND)2023-11-06 20:08Financial Performance - Net investment income per share was $031 in Q3 2023, compared to $039 in Q3 2022[1] - Adjusted net investment income per share was $029 in Q3 2023, compared to $040 in Q3 2022[1] - Total investment income increased by 12% to $1741 million in Q3 2023, driven by a 40% increase in interest from portfolio companies[27,42] - Adjusted expenses in Q3 2023 were $851000, compared to $477000 in Q3 2022, reflecting higher interest expense[7,27] - Net asset value (NAV) per share was $2377 as of September 30, 2023, up 6% from year-end 2022[28,42] Portfolio and Investments - Total portfolio investments at fair value were $747 million[20,30] - Publicly-traded equity securities of $72 million are available for future liquidity opportunities[19] - The company completed two new investments for $78 million in Q3 2023[42] - Top five portfolio investments total $313 million, representing 42% of the total portfolio[25] - Debt investments constitute 63% of the portfolio, while publicly traded equities account for 10%[44] Liquidity and Capital Resources - The company had total liquidity of approximately $22 million at the end of Q3 2023[42] - Outstanding borrowings of $138 million under the $25 million senior secured revolving credit facility, with an interest rate of 88% at quarter-end[19] - The company paid a regular quarterly dividend of $025 per share for Q3 2023[19,42]