PhenixFIN Corporation Announces Fiscal First Quarter 2022 Financial Results
PhenixFIN Corporation Announces Fiscal First Quarter 2022 Financial Results
Board Expands Share Repurchase Program to $25 million
董事会将股票回购计划扩大至2500万美元
NEW YORK, Feb. 10, 2022 (GLOBE NEWSWIRE) -- PhenixFIN Corporation (NASDAQ: PFX) (the "Company"), a publicly traded business development company, today announced its financial results for the fiscal first quarter of 2022.
纽约,2022年2月10日(环球社)--上市商业开发公司菲尼克斯FIN公司(纳斯达克:PFX)今天公布了2022年第一财季的财务业绩。
Highlights
亮点
- During the first quarter, total investment income of $3.1 million; net investment income of $0.2 million
- Net asset value (NAV) of $148.5 million, or $58.99 per share as of December 31, 2021 vs. $57.08 per share as of September 30, 2021
- NAV per share has increased 11.4% over the twelve month period ended December 31, 2021 (since internalization)
- For the full calendar year, operating expenses declined 44% compared to the preceding twelve months
- Weighted average yield to maturity of 8.78% on debt investments
- Issued $57.5 million in aggregate principal amount of 5.25% unsecured notes due 2028 (NASDAQ: PFXNZ)
- 第一季度,总投资收入为310万美元;净投资收入为20万美元
- 截至2021年12月31日的资产净值(NAV)为1.485亿美元,或每股58.99美元,而截至2021年9月30日的资产净值为每股57.08美元
- 在截至2021年12月31日的12个月里,每股资产净值增长了11.4%(自内部化以来)
- 就整个日历年而言,运营费用与前12个月相比下降了44%。
- 债务投资到期加权平均收益率为8.78%
- 发行本金总额5,750万美元、2028年到期的本金为5.25%的无担保票据(纳斯达克代码:PFXNZ)
Subsequent Events:
后续活动:
- On February 9, 2022, the Board approved the expansion of the current repurchase program from $15 million to $25 million. Since announcing the plan on January 11, 2021 through February 8, 2022, the Company has repurchased 219,964 shares at an aggregate price of $8.7 million (8.08% of shares outstanding as of plan inception).
- 2022年2月9日,董事会批准将当前的回购计划从1500万美元扩大到2500万美元。自2021年1月11日至2022年2月8日宣布该计划以来,该公司已回购了219,964股股票,总价为870万美元(占计划开始时已发行股票的8.08%)。
David Lorber, Chief Executive Officer of the Company, stated:
该公司首席执行官大卫·洛伯表示:
"After our first year as an internally managed BDC we have successfully repositioned a significant portion of the portfolio and reduced our cost structure. For the first twelve months of being an internally managed BDC, our operating expenses decreased by 44% as compared to the preceding twelve month period, from $12.5 million to $6.9 million. In addition, we launched FlexFIN, an operating company owned in partnership with Kwiat/Fred Leighton, generating attractive returns."
在我们成为内部管理的BDC的第一年后,我们成功地重新定位了很大一部分投资组合,降低了我们的成本结构。在成为内部管理的BDC的前12个月,我们的运营费用比前12个月下降了44%,从1250万美元降至690万美元。此外,我们还推出了FlexFIN,这是一家与Kwiat/Fred Leighton合作拥有的运营公司,产生了诱人的回报。“
Since our internalization on January 1, 2021, we have monetized 15 positions totaling $116.2 million and deployed capital into 21 new investments and 6 add on investments, aggregating $135.6 million.
自2021年1月1日内部化以来,我们已将15个头寸货币化,总计1.162亿美元,并将资本部署到21个新投资和6个附加投资中,总计1.356亿美元。
Selected First Quarter 2022 Financial Results
精选2022年第一季度财务业绩
For the quarter ended December 31, 2021, investment income totaled $3.1 million, of which $2.6 million was attributable to portfolio interest and dividend income and $0.5 million was attributable to fee and other income
截至2021年12月31日的季度,投资收入总计310万美元,其中260万美元归因于投资组合利息和股息收入,50万美元归因于手续费和其他收入
For the quarter ended December 31, 2021, total net expenses were $2.9 million and total net investment income was $0.2 million
截至2021年12月31日的季度,总净支出为290万美元,总净投资收入为20万美元
For the quarter ended December 31, 2021, the Company recorded a net realized gain of $15.2 million and net change in unrealized depreciation of $10.3 million.
在截至2021年12月31日的季度,该公司录得已实现净收益1520万美元,未实现折旧净变化1030万美元。
Portfolio and Investment Activities
投资组合和投资活动
As of December 31, 2021, the fair value of the Company's investment portfolio totaled $175.4 million and consisted of 42 portfolio companies.
截至2021年12月31日,该公司投资组合的公允价值总计1.754亿美元,由42家投资组合公司组成。
As of December 31, 2021, the Company had 6 portfolio company investments on non-accrual status with a fair market value of $10.4 million.
截至2021年12月31日,该公司有6项非权责发生状态的投资组合公司投资,公平市值为1040万美元。
Liquidity and Capital Resources
流动性与资本资源
At December 31, 2021, the Company had $59.4 million in cash and $55.2 million and $22.4 million outstanding in aggregate principal amount of its 5.25% unsecured notes due 2028 and 6.125% unsecured notes due 2023, respectively.
截至2021年12月31日,公司现金总额为5,940万美元,2028年到期的5.25%无担保票据本金总额为5,520万美元,2023年到期的无担保票据本金总额为6.125%。
ABOUT PHENIXFIN CORPORATION
关于菲尼希芬公司
PhenixFIN Corporation is a non-diversified, internally managed closed-end management investment company incorporated in Delaware that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. We completed our initial public offering and commenced operations on January 20, 2011. The Company has elected, and intends to qualify annually, to be treated, for U.S. federal income tax purposes, as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended. Effective January 1, 2021, the Company operates under an internalized management structure.
PhenixFIN公司是一家在特拉华州注册成立的非多元化、内部管理的封闭式管理投资公司,该公司已选择根据1940年修订后的“投资公司法”作为一家业务开发公司进行监管。我们于2011年1月20日完成首次公开募股(IPO)并开始运营。根据修订后的1986年美国国税法M子章,本公司已经选择,并打算每年都有资格被视为符合美国联邦所得税标准的受监管投资公司。自2021年1月1日起,公司在内部化管理结构下运营。
SAFE HARBOR STATEMENT AND OTHER DISCLOSURES
安全港声明和其他披露
This press release contains "forward-looking" statements. Such forward-looking statements reflect current views with respect to future events and financial performance, and the Company may make related oral forward-looking statements on or following the date hereof. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements, including among other things, PhenixFIN's ability to deliver value to shareholders, reduce operating expenses for a sustainable period of time, implement its investment objective, capitalize on investment opportunities, execute successfully its share repurchase program and perform well and operate effectively under an internalized management structure, FlexFIN's ability to perform effectively and generate attractive returns and other factors that are enumerated in the Company's periodic filings with the Securities and Exchange Commission. PhenixFIN Corporation disclaims and does not undertake any obligation to update or revise any forward-looking statement in this press release.
本新闻稿包含“前瞻性”陈述。这些前瞻性陈述反映了当前对未来事件和财务表现的看法,公司可能在本新闻稿发布之日或之后发表相关的口头前瞻性陈述。这些前瞻性陈述受预测未来结果和条件的内在不确定性的影响。某些因素可能导致实际结果和条件与这些前瞻性陈述中预测的大不相同,其中包括PhenixFIN向股东提供价值的能力、在可持续的一段时间内减少运营费用、实现其投资目标、利用投资机会、成功执行其股票回购计划以及在内部管理结构下表现良好和有效运营的能力、FlexFIN有效运作并产生有吸引力的回报的能力,以及在公司提交给证券交易委员会的定期报告中列举的其他因素。PhenixFIN公司不承担任何义务来更新或修改本新闻稿中的任何前瞻性陈述。
Past performance is not a guarantee of future results. The press release contains unaudited financial results. For ease of review, we have excluded the word "approximately" when rounding the results. This press release is for informational purposes only and is not an offer to purchase or a solicitation of an offer to sell shares of PhenixFIN Corporation's common stock. There can be no assurance that PhenixFIN Corporation will achieve its investment objective.
过去的表现并不能保证未来的结果。新闻稿包含未经审计的财务结果。为便于审查,我们在舍入结果时排除了“大约”一词。本新闻稿仅供参考,并不是购买或征集出售PhenixFIN公司普通股的要约。不能保证PhenixFIN公司会实现其投资目标。
For PhenixFIN investor relations, please call 212-859-0390. For media inquiries, please contact info@phenixfc.com.
欲查询PhenixFIN投资者关系,请致电212-859-0390。如有媒体查询,请联系info@henixfc.com。
PHENIXFIN CORPORATION
Consolidated Statements of Assets and Liabilities
非尼西芬公司
合并资产负债表
December 31, 2021 (Unaudited) |
September 30, 2021 |
||||||
Assets: | |||||||
Investments at fair value | |||||||
Non-controlled, non-affiliated investments (amortized cost of $128,348,470 and $92,214,167, respectively) | $ | 120,418,943 | $ | 84,152,678 | |||
Affiliated investments (amortized cost of $46,411,711 and $75,963,427, respectively) | 17,569,686 | 57,595,245 | |||||
Controlled investments (amortized cost of $66,991,021 and $39,490,097, respectively) | 37,410,426 | 9,891,860 | |||||
Total Investments at fair value | 175,399,055 | 151,639,783 | |||||
Cash and cash equivalents | 59,380,000 | 69,433,256 | |||||
Receivables: | |||||||
Paydown receivable | 3,885,645 | 292,015 | |||||
Interest receivable | 533,347 | 371,576 | |||||
Dividends receivable | 220,459 | 81,211 | |||||
Due from Affiliate | 137 | - | |||||
Fees receivable | - | 1,872,700 | |||||
Other receivable | 1,293 | - | |||||
Other assets | 1,242,845 | 1,401,746 | |||||
Total Assets | $ | 240,662,781 | $ | 225,092,287 | |||
Liabilities: | |||||||
Notes payable (net of debt issuance costs of $2,380,843 and $412,795, respectively) | $ | 77,640,957 | $ | 77,434,005 | |||
Interest and fees payable | 385,729 | - | |||||
Deferred revenue | 386,156 | - | |||||
Due to broker | 12,089,033 | 1,586,000 | |||||
Due to affiliates | - | 280,323 | |||||
Administrator expenses payable | 127,965 | 67,920 | |||||
Accounts payable and accrued expenses | 922,416 | 1,416,524 | |||||
Other liabilities | 613,534 | 613,534 | |||||
Total Liabilities | 92,165,790 | 81,398,306 | |||||
Commitments and Contingencies | |||||||
Net Assets: | |||||||
Common Shares, $0.001 par value; 5,000,000 shares authorized; 2,723,709 shares issued; 2,517,221 common shares outstanding | 2,517 | 2,517 | |||||
Capital in excess of par value | 688,866,642 | 688,866,642 | |||||
Total distributable earnings (loss) | (540,372,168 | ) | (545,175,178 | ) | |||
Total Net Assets | $ | 148,496,991 | $ | 143,693,981 | |||
Total Liabilities and Net Assets | $ | 240,662,781 | $ | 225,092,287 | |||
Net Asset Value Per Common Share | $ | 58.99 | $ | 57.08 |
十二月三十一日, 2021 (未经审计) |
9月30日, 2021 |
||||||
资产: | |||||||
公允价值投资 | |||||||
非控制、非附属投资(摊销成本分别为128348470美元和92214167美元) | $ | 120,418,943 | $ | 84,152,678 | |||
附属投资(摊销费用分别为46411711美元和7596427美元) | 17,569,686 | 57,595,245 | |||||
受控投资(摊销成本分别为66,991,021美元和39,490,097美元) | 37,410,426 | 9,891,860 | |||||
按公允价值计算的总投资 | 175,399,055 | 151,639,783 | |||||
现金和现金等价物 | 59,380,000 | 69,433,256 | |||||
应收款: | |||||||
应收定金 | 3,885,645 | 292,015 | |||||
应收利息 | 533,347 | 371,576 | |||||
应收股利 | 220,459 | 81,211 | |||||
应由附属公司支付 | 137 | - | |||||
应收费用 | - | 1,872,700 | |||||
其他应收账款 | 1,293 | - | |||||
其他资产 | 1,242,845 | 1,401,746 | |||||
总资产 | $ | 240,662,781 | $ | 225,092,287 | |||
负债: | |||||||
应付票据(分别扣除债务发行成本2380843美元和412795美元) | $ | 77,640,957 | $ | 77,434,005 | |||
应付利息及费用 | 385,729 | - | |||||
递延收入 | 386,156 | - | |||||
由于经纪人的原因 | 12,089,033 | 1,586,000 | |||||
由于附属公司 | - | 280,323 | |||||
应付管理费用 | 127,965 | 67,920 | |||||
应付账款和应计费用 | 922,416 | 1,416,524 | |||||
其他负债 | 613,534 | 613,534 | |||||
总负债 | 92,165,790 | 81,398,306 | |||||
承诺和或有事项 | |||||||
净资产: | |||||||
普通股,面值0.001美元;授权发行500万股;已发行2,723,709股;已发行普通股2,517,221股 | 2,517 | 2,517 | |||||
超出票面价值的资本 | 688,866,642 | 688,866,642 | |||||
总可分配收益(亏损) | (540,372,168 | ) | (545,175,178 | ) | |||
总净资产 | $ | 148,496,991 | $ | 143,693,981 | |||
总负债和净资产 | $ | 240,662,781 | $ | 225,092,287 | |||
每股普通股资产净值 | $ | 58.99 | $ | 57.08 |
PHENIXFIN CORPORATION
Consolidated Statements of Operations
(Unaudited)
非尼西芬公司
合并业务报表
(未经审计)
For the Three Months Ended December 31 |
|||||||
2021 | 2020 | ||||||
Interest Income: | |||||||
Interest from investments | |||||||
Non-controlled, non-affiliated investments: | |||||||
Cash | $ | 1,015,692 | $ | 1,671,813 | |||
Payment in-kind | 138,511 | 170,029 | |||||
Affiliated investments: | |||||||
Cash | 122,147 | 352,291 | |||||
Payment in-kind | 97,028 | - | |||||
Controlled investments: | |||||||
Cash | 553,638 | 1,190 | |||||
Total interest income | 1,927,016 | 2,195,323 | |||||
Dividend income | 702,930 | 10,263,501 | |||||
Interest from cash and cash equivalents | 2,739 | 940 | |||||
Fee income | 270,122 | 341,464 | |||||
Other income | 230,434 | - | |||||
Total Investment Income | 3,133,241 | 12,801,228 | |||||
Expenses: | |||||||
Base management fees | - | 1,146,403 | |||||
Interest and financing expenses | 1,487,675 | 2,017,641 | |||||
General and administrative expenses | 196,559 | 377,934 | |||||
Salaries and Benefits | 505,875 | - | |||||
Administrator expenses | 68,866 | 484,412 | |||||
Insurance expenses | 158,904 | 485,012 | |||||
Directors fees | 208,500 | 475,717 | |||||
Professional fees, net | 306,751 | (515,622 | ) | ||||
Total expenses | 2,933,130 | 4,471,497 | |||||
Net Investment Income | 200,111 | 8,329,731 | |||||
Realized and unrealized gains (losses) on investments | |||||||
Net realized gains (losses): | |||||||
Non-controlled, non-affiliated investments | 484,513 | 3,893,722 | |||||
Affiliated investments | 14,737,897 | (10,452,928 | ) | ||||
Controlled investments | 925 | (40,147,570 | ) | ||||
Total net realized gains (losses) | 15,223,335 | (46,706,776 | ) | ||||
Net change in unrealized gains (losses): | |||||||
Non-controlled, non-affiliated investments | 131,963 | (4,057,063 | ) | ||||
Affiliated investments | (10,473,843 | ) | (2,118,324 | ) | |||
Controlled investments | 17,641 | 38,236,935 | |||||
Total net change in unrealized gains (losses) | (10,324,239 | ) | 32,061,548 | ||||
Loss on extinguishment of debt | (296,197 | ) | (122,354 | ) | |||
Total realized and unrealized gains (losses) | 4,602,899 | (14,767,582 | ) | ||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | 4,803,010 | $ | (6,437,851 | ) | ||
Weighted Average Basic and diluted earnings per common share | $ | 1.91 | $ | (2.36 | ) | ||
Weighted Average Basic and diluted net investment income (loss) per common share | $ | 0.08 | $ | 3.06 | |||
Weighted Average Common Shares Outstanding - Basic and Diluted | 2,517,221 | 2,723,709 |
对于 截至三个月 12月31日 |
|||||||
2021 | 2020 | ||||||
利息收入: | |||||||
投资利息 | |||||||
非控制、非附属投资: | |||||||
现金 | $ | 1,015,692 | $ | 1,671,813 | |||
实物付款 | 138,511 | 170,029 | |||||
附属投资: | |||||||
现金 | 122,147 | 352,291 | |||||
实物付款 | 97,028 | - | |||||
受控投资: | |||||||
现金 | 553,638 | 1,190 | |||||
利息收入总额 | 1,927,016 | 2,195,323 | |||||
股息收入 | 702,930 | 10,263,501 | |||||
现金和现金等价物的利息 | 2,739 | 940 | |||||
手续费收入 | 270,122 | 341,464 | |||||
其他收入 | 230,434 | - | |||||
总投资收益 | 3,133,241 | 12,801,228 | |||||
费用: | |||||||
基地管理费 | - | 1,146,403 | |||||
利息和融资费用 | 1,487,675 | 2,017,641 | |||||
一般和行政费用 | 196,559 | 377,934 | |||||
薪金和福利 | 505,875 | - | |||||
管理员费用 | 68,866 | 484,412 | |||||
保险费 | 158,904 | 485,012 | |||||
董事酬金 | 208,500 | 475,717 | |||||
专业费用,净额 | 306,751 | (515,622 | ) | ||||
总费用 | 2,933,130 | 4,471,497 | |||||
净投资收益 | 200,111 | 8,329,731 | |||||
已实现和未实现的投资收益(亏损) | |||||||
已实现净收益(亏损): | |||||||
非控制、非附属投资 | 484,513 | 3,893,722 | |||||
关联投资 | 14,737,897 | (10,452,928 | ) | ||||
受控投资 | 925 | (40,147,570 | ) | ||||
已实现净收益(亏损)合计 | 15,223,335 | (46,706,776 | ) | ||||
未实现收益(亏损)净变化: | |||||||
非控制、非附属投资 | 131,963 | (4,057,063 | ) | ||||
关联投资 | (10,473,843 | ) | (2,118,324 | ) | |||
受控投资 | 17,641 | 38,236,935 | |||||
未实现收益(亏损)净变动总额 | (10,324,239 | ) | 32,061,548 | ||||
债务清偿损失 | (296,197 | ) | (122,354 | ) | |||
已实现和未实现收益(亏损)合计 | 4,602,899 | (14,767,582 | ) | ||||
经营所致净资产净增(减) | $ | 4,803,010 | $ | (6,437,851 | ) | ||
普通股加权平均基本收益和稀释后收益 | $ | 1.91 | $ | (2.36 | ) | ||
普通股加权平均基本和摊薄净投资收益(亏损) | $ | 0.08 | $ | 3.06 | |||
加权平均普通股流通股-基本和稀释 | 2,517,221 | 2,723,709 |