NEW YORK, Aug. 05, 2026 (GLOBE NEWSWIRE) -- PhenixFIN Corporation (NASDAQ: PFX, PFXNZ) (the "Company"), a publicly traded business development company, today announced its financial results for the third fiscal quarter of 2026.
Highlights
- Third quarter total investment income of $6.5 million; net investment income of $2.1 million
- Net asset value (NAV) of $157.9 million, or $81.69 per share as of June 30, 2026 vs $79.56 per share as of March 31, 2026
- Weighted average yield was 13.2% on debt and other income producing investments
- A special dividend of $0.07 per share was paid on May 28, 2026, to stockholders of record as of May 18, 2026
David Lorber, Chief Executive Officer of the Company, stated:
“Credit quality across our portfolio remained resilient this quarter amid persistent macroeconomic volatility. We continue to source attractive private credit opportunities while optimizing our platform, with continued focus on enhancing long-term shareholder value.”
Selected Third Quarter 2026 Financial Results for the Quarter Ended June 30, 2026:
Total investment income was $6.5 million of which $6.2 million was attributable to portfolio interest, dividend income and PIK interest and $0.3 million was attributable to fee and other income.
Total expenses were $4.4 million and total net investment income was $2.1 million.
The Company recorded a net realized gain of $0.4 million and net unrealized gain of $1.8 million.
Portfolio and Investment Activities for the Quarter Ended June 30, 2026:
The fair value of the Company's investment portfolio totaled $301.6 million and consisted of 31 portfolio companies.
Liquidity and Capital Resources
At June 30, 2026, the Company had $2.2 million in cash and cash equivalents, $57.5 million in aggregate principal amount of its 5.25% unsecured notes due 2028 and $90.0 million outstanding under the Credit Facility.
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 long-term value to shareholders, increase investment activity, increase net investment income, implement its investment strategy and achieve its investment objective, source and capitalize on investment opportunities, grow its net asset value and perform well in the prevailing market environment, the ability of our portfolio companies to perform well and generate income 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.
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.
For PhenixFIN investor relations, please call 212-859-0390. For media inquiries, please contact [email protected].
PHENIXFIN CORPORATIONConsolidated Statements of Assets and Liabilities June 30,
2026
(Unaudited) September 30,
2025 Assets: Investments at fair value Non-controlled, non-affiliated investments (amortized cost of $133,498,823 and $139,342,491, respectively) $136,419,212 $145,280,169 Affiliated investments (amortized cost of $38,802,355 and $35,390,223, respectively) 36,682,577 35,381,405 Controlled investments (amortized cost of $155,112,950 and $149,656,451, respectively) 128,535,521 121,610,914 Total Investments at fair value 301,637,310 302,272,488 Cash and cash equivalents 2,178,083 7,289,371 Receivables: Interest receivable 1,421,515 1,203,404 Other receivable — 44,971 Dividends receivable 61,200 42,950 Other assets 2,389,994 2,746,775 Deferred tax asset, net 670,560 1,234,847 Deferred financing costs 1,185,184 1,384,767 Due from Affiliate 258,310 572,331 Prepaid share repurchase 84,797 96,342 Receivable for investments sold — 21,549 Total Assets $309,886,953 $316,909,795 Liabilities: Credit facility and notes payable (net of debt issuance costs of $781,263 and $1,141,393, respectively) $146,710,356 $148,011,724 Accounts payable and accrued expenses 1,427,432 4,226,889 Other liabilities 2,463,039 2,439,405 Interest and fees payable 1,121,388 1,187,574 Taxes payable 77,509 137,538 Due to Affiliate 126,936 132,365 Administrator expenses payable (see Note 6) 97,386 — Total Liabilities 152,024,046 156,135,495 Commitments and Contingencies (see Note 8) Net Assets: Common Shares, $0.001 par value; 5,000,000 shares authorized; 2,723,709 shares issued; 1,932,473 and 2,003,769 common shares outstanding, respectively 1,932 2,004 Capital in excess of par value 701,284,360 704,640,648 Total distributable earnings (loss) (543,423,385) (543,868,352)Total Net Assets 157,862,907 160,774,300 Total Liabilities and Net Assets $309,886,953 $316,909,795 Net Asset Value Per Common Share $81.69 $80.24
Consolidated Statements of Operations
(Unaudited)
For the Three Months
Ended June 30, For the Nine Months
Ended June 30, 2026 2025 2026 2025 Interest Income: Interest from investments Non-controlled, non-affiliated investments: Cash $2,437,421 $3,758,928 $7,237,718 $9,708,993 Payment in-kind 349,010 213,590 627,201 832,055 Affiliated investments: - Cash 582,491 1,884,957 - Payment in-kind 314,673 - 764,594 - Controlled investments: - Cash 671,985 607,929 1,843,148 1,822,914 Total interest income 4,355,580 4,580,447 12,357,618 12,363,962 Dividend income Non-controlled, non-affiliated investments 420,369 247,322 1,644,616 1,221,852 Affiliated investments - - 268,540 254,231 Controlled investments 1,391,618 617,056 3,298,977 3,597,022 Total dividend income 1,811,987 864,378 5,212,133 5,073,105 Interest from cash and cash equivalents 28,038 27,804 132,275 132,557 Fee income (see Note 9) 255,318 684,330 607,525 822,841 Total Investment Income 6,450,923 6,156,959 18,309,551 18,392,465 Expenses: Interest and financing expenses 2,319,759 2,660,472 7,060,672 7,785,246 Salaries and benefits 1,078,675 1,237,767 3,064,684 3,451,438 Professional fees, net 285,347 304,540 1,085,619 1,300,518 General and administrative expenses 355,438 398,494 1,078,416 928,026 Directors fees 152,500 204,000 525,928 612,000 Administrator expenses (see Note 6) 109,123 106,740 320,407 303,924 Insurance expenses 74,812 87,460 224,436 262,379 Total expenses 4,375,654 4,999,473 13,360,162 14,643,531 Net Investment Income 2,075,269 1,157,486 4,949,389 3,748,934 Realized and unrealized gains (losses) on investments Net realized gains (losses): Non-controlled, non-affiliated investments 411,093 (1,665,458) (17,385) (1,561,801)Affiliated investments (334) (10,320,353) 3,162 (10,320,353)Controlled investments - - - - Total net realized gains (losses) 410,759 (11,985,811) (14,223) (11,882,154)Net change in unrealized gains (losses): Non-controlled, non-affiliated investments 1,124,905 (18,517) (3,017,289) 1,973,193 Affiliated investments (1,067,771) 8,379,055 (2,110,960) 7,397,502 Controlled investments 1,767,513 914,813 1,468,108 (892,789)Total net change in unrealized gains (losses) 1,824,647 9,275,351 (3,660,141) 8,477,906 Deferred tax benefit (expense) (86,737) 55,511 (676,181) (274,125)Loss on Extinguishment of Debt (see Note 5) - - (12,314) - Total realized and unrealized gains (losses) 2,148,669 (2,654,949) (4,362,859) (3,678,373)Net Increase (Decrease) in Net Assets Resulting from Operations $4,223,938 $(1,497,463) $586,530 $70,561 Weighted average basic and diluted earnings per common share $2.19 $(0.74) $0.30 $0.03 Weighted average common shares outstanding - basic and diluted (see Note 11) 1,932,597 2,017,330 1,969,108 2,018,962