|Bid||41.54 x 1000|
|Ask||43.00 x 1200|
|Day's Range||41.01 - 42.89|
|52 Week Range||17.04 - 44.00|
|Beta (5Y Monthly)||1.86|
|PE Ratio (TTM)||12.13|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Feb 21, 2019|
|1y Target Est||N/A|
NEW YORK, Aug. 11, 2021 (GLOBE NEWSWIRE) -- PhenixFIN Corporation (NASDAQ: PFX) (the "Company"), a publicly traded business development company, today announced its financial results for the fiscal third quarter of 2021. Third Quarter 2021 Highlights Total investment income of $8.7 million; net investment income of $5.4 million$52.9 million in cash on June 30, 2021Net asset value of $156.7 million, or $58.49 per share as of June 30, 2021 vs. $55.30 per share as of September 30, 2020 David Lorber
NEW YORK, May 12, 2021 (GLOBE NEWSWIRE) -- PhenixFIN Corporation (NASDAQ: PFX) (the "Company"), a publicly traded business development company, today announced its financial results for the fiscal second quarter of 2021. Second Quarter 2021 Highlights Total investment income of $6.5 million; net investment income of $3.7 million$59.1 million in cash on March 31, 2021Net asset value of $151.2 million, or $55.91 per share as of March 31, 2021 vs. $55.30 per share as of September 30, 2020 The quarter ended March 31, 2021 represented the first quarter of operations under the Company’s new internalized management structure. David Lorber, Chief Executive Officer of the Company, stated: “We are pleased with the smooth transition to an internally-managed company and with our performance during the quarter. We are generally encouraged by potential opportunities to enhance value within the legacy portfolio and deploy capital, as we look to achieve our investment objective of generating current income and capital appreciation. In addition, we continue to realize efficiencies in operating under our internalized management structure.” On January 11, 2021, the Company announced that the Board of Directors approved a share repurchase program authorizing up to $15 million in share repurchases. Under the share repurchase program, the Company is authorized to repurchase from time to time its common stock in open market or other transactions, subject to applicable regulatory requirements. Under this program, 19,773 shares were repurchased through March 31, 2021. In aggregate through May 11, 2021 43,988 shares have been repurchased at an average price of $32.52/share. Second Quarter 2021 Financial Results For the quarter ended March 31, 2021, investment income totaled $6.4 million, of which $6.1 million was attributable to portfolio interest and dividend income, $0.2 million was attributable to fee income, and $0.1 million was attributable to other income. For the quarter ended March 31, 2020, investment income totaled $5.3 million, of which $5.2 million was attributable to portfolio interest and dividend income, and $0.1 million to fee income. For the quarter ended March 31, 2021, total net expenses were $2.8 million and for the quarter ended March 31, 2020, total net expenses were $9.5 million. For the quarter ended March 31, 2021, the Company recorded a net realized gain of $0.2 million and net unrealized appreciation of $3.9 million. For the quarter ended March 31, 2020, the Company recorded a net realized loss of $(0.1) million and net unrealized depreciation of $(73.6) million. Portfolio and Investment Activities As of March 31, 2021, the fair value of the Company's investment portfolio totaled $168.2 million and consisted of 38 portfolio companies. As of March 31, 2021, the Company had 10 portfolio company investments on non-accrual status with a fair market value of $16.7 million. Liquidity and Capital Resources At March 31, 2021, the Company had $59.1 million in cash and $77.3 million outstanding in aggregate principal amount of 6.125% unsecured notes due 2023. ABOUT PHENIXFIN CORPORATION 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. SAFE HARBOR STATEMENT AND OTHER DISCLOSURES 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, implement its investment objective, capitalize on investment opportunities and continue to realize efficiencies, 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. 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. For PhenixFIN investor relations, please call 212-859-0390. For media inquiries, please contact email@example.com. PHENIXFIN CORPORATION Consolidated Statements of Assets and Liabilities March 31,2021(Unaudited) September 30, 2020 Assets: Investments at fair value Non-controlled, non-affiliated investments (amortized cost of $95,301,443 and $117,360,954, respectively) $93,283,110 $114,321,948 Affiliated investments (amortized cost of $79,845,752 and $92,898,755, respectively) 68,233,836 84,873,023 Controlled investments (amortized cost of $38,487,321 and $117,874,821, respectively) 6,727,597 47,548,578 Total Investments at fair value 168,244,543 246,743,549 Cash and cash equivalents 59,092,731 56,522,148 Receivables: Interest receivable 299,655 624,524 Fees receivable 106,528 119,028 Other receivable 398,551 - Prepaid share repurchases 164,258 - Other assets 1,210,724 2,093,559 Total Assets $229,516,990 $306,102,808 Liabilities: Notes payable (net of debt issuance costs of $551,142 and $905,624, respectively) $77,295,658 $150,960,662 Interest and fees payable - 801,805 Due to affiliates - 53,083 Management and incentive fees payable - 1,392,022 Administrator expenses payable 94,958 156,965 Accounts payable and accrued expenses 918,279 2,108,225 Deferred revenue 30,970 10,529 Total Liabilities 78,339,865 155,483,291 Commitments and Contingencies Net Assets: Common Shares, $0.001 par value; 5,000,000 shares authorized; 2,703,936 and 2,723,709 common shares issued and outstanding, respectively 2,704 2,724 Capital in excess of par value 671,589,690 672,381,617 Total distributable earnings/(loss) (520,415,269) (521,764,824)Total Net Assets $151,177,125 $150,619,517 Total Liabilities and Net Assets $229,516,990 $306,102,808 Net Asset Value Per Common Share $55.91 $55.30 PHENIXFIN CORPORATIONConsolidated Statements of Operations(Unaudited) For the ThreeMonths EndedMarch 31 For the SixMonths EndedMarch 31 2021 2020 2021 2020 Interest Income: Interest from investments Non-controlled, non-affiliated investments: Cash $1,534,904 2,320,453 $3,206,717 5,538,162 Payment in-kind - 128,309 170,029 327,321 Affiliated investments: Cash 196,328 190,193 548,619 399,441 Payment in-kind - 706,789 - 1,654,262 Controlled investments: Cash (1,190) 1,297 - 84,505 Payment in-kind - 5,385 - 500,767 Total interest income 1,730,042 3,352,426 3,925,365 8,504,458 Dividend income 4,408,234 1,662,500 14,671,735 3,500,000 Interest from cash and cash equivalents 506 154,290 1,446 372,428 Fee income 237,416 131,992 578,880 415,532 Other income 78,204 - 78,204 - Total Investment Income 6,454,402 5,301,208 19,255,630 12,792,418 Expenses: Base management fees - 1,641,271 1,146,403 3,649,505 Interest and financing expenses 1,260,054 4,432,118 3,277,695 9,576,047 General and administrative expenses 104,440 2,083,397 466,049 2,600,239 Salaries and Benefits 332,317 - 332,317 - Administrator expenses (44,618) 576,362 439,794 1,127,884 Insurance expenses 474,468 356,580 959,480 654,578 Directors fees 220,500 296,500 696,217 612,500 Professional fees, net 420,220 130,630 (79,077) (4,285,445)Total expenses net of expense support reimbursement and management and incentive fee waivers 2,767,381 9,516,858 7,238,878 13,935,308 Net Investment Income 3,687,021 (4,215,650) 12,016,752 (1,142,890) Realized and unrealized gains (losses) on investments Net realized gains (losses): Non-controlled, non-affiliated investments 160,926 (100,115) 4,054,648 (157,914)Affiliated investments - - (10,452,928) - Controlled investments - - (40,147,570) (1,686,837)Total net realized gains (losses) 160,926 (100,115) (46,545,850) (1,844,751)Net change in unrealized gains (losses): Non-controlled, non-affiliated investments 5,077,737 (19,549,944) 1,020,673 (15,802,570)Affiliated investments (1,467,862) (15,019,332) (3,586,184) (5,578,733)Controlled investments 329,584 (38,994,357) 38,566,519 (48,451,471)Total net change in unrealized gains (losses) 3,939,459 (73,563,633) 36,001,008 (69,832,774)Change in provision for deferred taxes on unrealized (appreciation)/ depreciation on investments - (85,664) - (85,664)Loss on extinguishment of debt - (895,033) (122,355) (1,784,183)Total realized and unrealized gains (losses) 4,100,385 (74,644,445) (10,667,197) (73,547,372) Net Increase (Decrease) in Net Assets Resulting from Operations $7,787,406 $(78,860,095) $1,349,555 $(74,690,262) Weighted Average Basic and diluted earnings per common share $2.87 $(28.95) $0.50 $(27.42)Weighted Average Basic and diluted net investment income (loss) per common share $1.36 $(1.55) $4.42 $(0.42)Weighted Average Common Shares Outstanding - Basic and Diluted 2,716,627 2,723,711(1) 2,720,226 2,723,711(1) (1)Basic and diluted shares has been adjusted for 2020 to reflect the one-for-twenty reverse stock split effected on July 24, 2020 on a retroactive basis.
NEW YORK, March 16, 2021 (GLOBE NEWSWIRE) -- PhenixFIN Corporation (NASDAQ: PFX) (“PhenixFIN” or the “Company”) announced today that it has entered into a 10b5-1 Purchase Plan that qualifies for the safe harbors provided by Rules 10b5-1 and 10b-18 under the Securities Exchange Act of 1934, as amended (the “Plan”). Pursuant to the Plan, an independent broker will make purchases of shares of the common stock (the “Shares”) of the Company, an internally managed business development company, on the open market on behalf of the Company in accordance with purchase guidelines specified in the Plan. The Plan is designed to allow the Company to repurchase its common stock at times when it otherwise might be prevented from doing so under insider trading laws. Under the Plan, pursuant to the Plan guidelines, the agent will increase the volume of purchases made as the price of the Company’s common stock declines, subject to volume limitations. The timing and amount of any stock repurchases depend on the terms and conditions of the Plan, the market price of the common stock, trading volumes and market conditions. There can be no assurance that any amount of common stock will be repurchased. The Company may, in compliance with applicable law, modify or terminate the Plan at any time. Unless otherwise terminated, the Plan will be in effect through May 14, 2022, subject to certain conditions. About PhenixFIN Corporation PhenixFIN is a Business Development Company traded on the NASDAQ Global Market that provides long-term debt and equity capital to fund growth, acquisitions and recapitalizations of companies in a variety of industries. For additional information about PhenixFIN, please visit PhenixFIN’s website at www.phenixfc.com. For PhenixFIN investor relations, please call 212-859-0390. For media inquiries, please contact firstname.lastname@example.org. Forward-Looking Statements Statements included herein may constitute “forward-looking statements,” which relate to future events or the Company’s future performance or financial condition. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in the Company’s filings with the Securities and Exchange Commission. There can be no assurance that the Company will repurchase any amount of shares pursuant to the Plan. The Company assumes no obligation to update any such forward-looking statements. The Company undertakes no duty to update any forward-looking statements made herein.