Welcome to our dedicated page for MidCap Financial news (Ticker: MFIC), a resource for investors and traders seeking the latest updates and insights on MidCap Financial stock.
MidCap Financial Investment Corporation reports developments for an externally managed, publicly traded closed-end investment company focused on current income from middle-market credit. The company’s updates center on quarterly financial results, net investment income, net asset value, leverage, dividends, direct origination commitments and fundings, and portfolio activity in first lien senior secured loans to privately held U.S. middle-market companies.
MFIC news also covers capital and balance-sheet actions, including share repurchase activity, senior secured revolving credit facility amendments, credit ratings, board and finance leadership changes, and updates involving portfolio investments such as Merx Aviation Finance.
Apollo Senior Floating Rate Fund and Apollo Tactical Income Fund have announced stockholder approval for their mergers with MidCap Financial Investment
At the special meetings on June 21, 2024, approximately 88% of AFT and 87% of AIF shares represented voted in favor, which is about 53% of each fund's outstanding shares.
MidCap Financial Investment 's stockholders had already approved the merger on May 28, 2024.
The mergers are set to close in late July 2024, pending customary conditions. Post-merger, the surviving entity will trade on the Nasdaq under the ticker 'MFIC'.
Stockholders of AFT and AIF will receive MFIC shares equal to their current NAV, adjusted for any undistributed income and gains.
MidCap Financial Investment (NASDAQ: MFIC) announced stockholder approval for proposed mergers with Apollo Senior Floating Rate Fund (NYSE: AFT) and Apollo Tactical Income Fund (NYSE: AIF). These mergers were previously announced, and further approval is needed. Both AFT and AIF have adjourned their Special Meetings to June 21, 2024, to allow more time for stockholder voting. Currently, 47.08% of AFT and 46.02% of AIF stockholders have voted in favor. Institutional Shareholder Services (ISS) and Glass Lewis recommend voting 'FOR' the proposals. Broadridge Financial Solutions is assisting in vote solicitation.
MidCap Financial Investment (MFIC) reported financial results for the quarter ended March 31, 2024. Net investment income per share was $0.44, compared to $0.46 in the previous quarter. Net asset value per share was $15.42 at the end of the quarter. New investment commitments totaled $149 million. The company declared a dividend of $0.38 per share. Filed a joint proxy statement for proposed mergers with Apollo funds. CEO highlighted stable credit performance and de-risking. Conference call scheduled for May 8, 2024.
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