Completion of Merger with Logan Ridge
The merger with Logan Ridge was completed on July 15, 2025, enhancing the company's scale, portfolio diversification, and operating efficiency.
Strong Net Investment Income Growth
Net investment income for the third quarter was $8.8 million or $0.71 per share, compared to $4.6 million or $0.50 per share in the prior quarter.
Increase in Investment Income
Investment income increased to $18.9 million, up $6.3 million from the prior quarter, driven by the Logan Ridge acquisition.
Shareholder Value Initiatives
Announced a modified Dutch auction tender of approximately $9 million and daily share repurchases, aiming to approximate 10% ownership by year-end.
Proactive Debt Management
Issued $75 million and $35 million notes due in 2030 and 2028, respectively, while initiating the redemption of 4.875% notes due in 2026.