ArrowMark Financial Corp. Releases Month End Estimated Net Asset Value as of December 2023

Rhea-AI Summary

ArrowMark Financial Corp. (BANX) announced an estimated unaudited Net Asset Value (NAV) of $21.43 as of December 31, 2023. The audited NAV for the same period will be released with the annual report and may differ significantly from the estimated NAV.

Financial Analyst

When assessing the Net Asset Value (NAV) provided by ArrowMark Financial, it is crucial to understand that NAV represents the value per share of a fund's total assets minus its liabilities. In this case, the reported NAV of $21.43 as of December 31, 2023, serves as a preliminary gauge for investors regarding the company's financial position at year-end. However, it is important to note that this figure is unaudited and estimated, which implies a degree of uncertainty.

Investors typically monitor NAV closely as it can influence the market price of closed-end funds like BANX. A significant deviation between the estimated and audited NAV could affect investor confidence and lead to volatility in the stock's price. It is also essential to compare this NAV to historical values and industry benchmarks to evaluate performance and investment health.

Given that the audited NAV will be included in the annual report, stakeholders should prepare for potential adjustments. These adjustments could stem from final year-end accounting entries, tax adjustments, or valuation changes in portfolio holdings. A material difference between estimated and audited NAV could indicate deeper issues in financial estimation processes or unexpected financial developments within the reporting period.

Market Research Analyst

The release of the estimated NAV by ArrowMark Financial offers a snapshot for market analysts to anticipate the company's market standing. While the announcement does not give a comprehensive financial picture, it provides early signals that can be used to forecast future market behavior and investor sentiment towards BANX.

For instance, if the estimated NAV is higher than previous periods or exceeds market expectations, it could suggest that the company's investment portfolio has performed well, potentially attracting more investors. Conversely, if the NAV is lower than anticipated, it may raise concerns about asset performance or management efficacy.

Furthermore, the timing of the release—prior to the audited figures—allows analysts to set benchmarks for comparison. This information could be leveraged to adjust market forecasts and investment strategies, especially for those with a stake in financial sector performance or closed-end fund markets.

DENVER, Jan. 16, 2024 (GLOBE NEWSWIRE) -- ArrowMark Financial Corp., (NASDAQ: BANX) ("ArrowMark Financial"), today announced that BANX’s estimated and unaudited Net Asset Value (“NAV”) as of December 31, 2023, was $21.43.

This estimated NAV is not a comprehensive statement of our financial condition or results for the month ended December 31, 2023. We advise you that our audited NAV for December 31, 2023, will be released once we complete our annual report and may differ materially from this estimated NAV.

About ArrowMark Financial Corp.
ArrowMark Financial Corp. is an SEC registered non-diversified, closed-end fund listed on the NASDAQ Global Select Market under the symbol “BANX.” Its investment objective is to provide shareholders with current income. BANX pursues its objective by investing primarily in regulatory capital securities of financial institutions. BANX is managed by ArrowMark Asset Management, LLC. To learn more, visit ir.arrowmarkfinancialcorp.com, or contact Destra at 877.855.3434 or by email at BANX@destracapital.com.

Disclaimer and Risk Factors:
There is no assurance that ArrowMark Financial will achieve its investment objective. ArrowMark Financial is subject to numerous risks, including investment and market risks, management risk, income and interest rate risks, banking industry risks, preferred stock risk, convertible securities risk, debt securities risk, liquidity risk, valuation risk, leverage risk, non-diversification risk, credit and counterparty risks, market at a discount from net asset value risk and market disruption risk. Shares of closed-end investment companies may trade above (a premium) or below (a discount) their net asset value. Shares of ArrowMark Financial may not be appropriate for all investors. Investors should review and consider carefully ArrowMark Financial's investment objective, risks, charges and expenses. Past performance does not guarantee future results.

The Annual Report, Semi-Annual Report and other regulatory filings of the Company with the SEC are accessible on the SEC's website at www.sec.gov and on the BANX’s website at ir.arrowmarkfinancialcorp.com.

Contact:
BANX@destracapital.com | investorrelations@arrowmarkfinancialcorp.com

FAQ

What is ArrowMark Financial Corp.'s ticker symbol?

ArrowMark Financial Corp.'s ticker symbol is BANX.

What is the estimated unaudited Net Asset Value (NAV) of BANX as of December 31, 2023?

The estimated unaudited Net Asset Value (NAV) of BANX as of December 31, 2023, was $21.43.

When will the audited NAV for December 31, 2023, be released?

The audited NAV for December 31, 2023, will be released once the annual report is completed.

How does the estimated NAV differ from the audited NAV?

The estimated NAV is not a comprehensive statement of the financial condition or results, and the audited NAV may differ materially from the estimated NAV.