MidCap Financial Stock Price, News & Analysis

MidCap Financial Investment Corporation (NASDAQ: MFIC) has announced the amendment and extension of its senior secured revolving credit facility, maintaining lender commitments at $1.705 billion until December 22, 2024, and reducing to $1.550 billion thereafter. The final maturity date is now April 19, 2028, extended from December 22, 2025. The benchmark rate has shifted from LIBOR to SOFR, with a slight reduction in the spread. CEO Tanner Powell noted that this extension enhances liquidity, while CFO Gregory Hunt highlighted lender support as a sign of confidence in the company’s strategy. The extended facility maintains its material terms, ensuring financial stability for the future.

MidCap Financial Investment Corporation (NASDAQ: MFIC) announced it will report its financial results for Q1 2023 after market close on May 2, 2023. A conference call is scheduled for May 3, 2023, at 8:30 a.m. ET, where stakeholders can discuss the earnings report. The company specializes in investing in first lien senior secured loans to U.S. middle-market firms, primarily focusing on companies with less than $75 million in EBITDA. The firm is externally managed by Apollo Investment Management, aiming to generate current income and long-term capital appreciation.

MidCap Financial Investment Corporation (NASDAQ: MFIC) reported Q4 2022 results with net investment income per share at $0.43, up from $0.35 in Q3 2022. The net asset value (NAV) per share decreased to $15.10 from $15.45, primarily due to losses outside its first lien corporate lending strategy. New investment commitments totaled $73 million, while gross fundings reached $159 million. The company declared a dividend of $0.38 per share, payable March 30, 2023, reflecting the benefits of higher base rates and exit from lower-yielding assets. Post-quarter, $62 million was repaid by Merx Aviation Finance LLC, reducing its exposure to 8.3% of the portfolio.

MidCap Financial Investment Corporation (NASDAQ: MFIC) will announce its financial results for the quarter and fiscal year ending December 31, 2022, after market close on February 21, 2023. A conference call will follow at 5:00 p.m. ET, accessible via telephone or webcast. The company operates as a non-diversified management investment entity, primarily investing in debt instruments and equity in private middle-market firms. The firm is externally managed by Apollo Investment Management, L.P., aiming for income generation and capital growth.

MidCap Financial Investment Corporation (NASDAQ: MFIC) reported a net investment income of $0.35 per share for Q2 2022, down from $0.37 in Q2 2021. The net asset value per share decreased to $15.45 from $15.52 year-over-year. New investment commitments amounted to $21 million, while gross fundings were $113 million, and gross exits totaled $196 million, leading to net repayments of $83 million. The company reduced its net leverage ratio from 1.58x to 1.42x, and increased its quarterly base dividend to $0.37 per share for Q4 2022, reflecting confidence in its corporate lending portfolio.