Slr Investment Corp Stock Price, News & Analysis

SLR Investment Corp. (NASDAQ: SLRC) has successfully completed its merger with SLR Senior Investment Corp. (SUNS), with SLRC remaining as the surviving entity. The merger brings approximately $2.6 billion in total assets and $1.1 billion in net assets based on December 31, 2021 data. Key benefits for shareholders include reduced management fees from 1.75% to 1.50%, cost-saving synergies, and increased diversification in niche private lending strategies. Former SUNS shareholders receive 0.7796 shares of SLRC for each SUNS share, resulting in SLRC's shareholders owning 77% of the combined company.

SLR Investment Corp. (NASDAQ: SLRC) and SLR Senior Investment Corp. (NASDAQ: SUNS) announced stockholder approval for their merger at special meetings held on March 21, 2022. Approximately 95% of voting SUNS and 98% of voting SLRC stockholders supported the merger, which is expected to close around April 1, 2022, pending customary conditions. Co-CEO Michael Gross expressed gratitude for the strong support and highlighted the potential for increased scale, portfolio diversity, and financial flexibility from the merger.

SLR Investment Corp. (NASDAQ: SLRC) reported a net investment income of $14.9 million, or $0.35 per share, for Q4 2021, with a fiscal year total of $60.9 million, or $1.44 per share. The Board declared a quarterly distribution of $0.41 per share for Q1 2022, payable on April 1, 2022. As of December 31, 2021, SLRC had a net asset value of $19.93 per share and a net debt-to-equity ratio of 0.97x. The company originated $1.1 billion in investments for 2021, with significant growth planned for 2022 due to expanded portfolio size. Earnings are expected to benefit from a lower cost of financing.

SLR Investment Corp. (NASDAQ: SLRC) will announce its financial results for the fourth quarter and fiscal year ended December 31, 2021, on March 1, 2022, after market close. An earnings conference call is scheduled for March 2, 2022, at 10:00 a.m. ET, where stakeholders can participate by dialing in or accessing a live webcast via the company’s website. SLR Investment Corp. focuses on investing in leveraged U.S. middle-market companies through senior secured loans and asset-based loans, showcasing its expertise as a business development company.

SLR Investment Corp. (NASDAQ: SLRC) announced the issuance of $135 million in 3.3% senior unsecured notes due January 2027. The proceeds will first reduce borrowings under its revolving credit facility, later funding investments and corporate purposes. This issuance, combined with $50 million raised in Q3 2021, lowers the company's long-term average financing rate to 3.2%, down from 4.5%. The notes enhance funding flexibility and support a strong investment pipeline. SLR Investment Corp. holds investment-grade ratings from Fitch and Moody's.

SLR Investment Corp. (NASDAQ: SLRC) has amended its senior secured credit facility, reducing the pricing grid by 25 basis points to LIBOR + 175-200 basis points and expanding the facility from $620 million to $700 million, with maturity extended to December 2026. This amendment aims to enhance funding flexibility and liquidity, supporting the company’s investment pipeline. Co-CEO Michael Gross highlighted that these changes are expected to lower average borrowing costs and extend debt maturity, bolstering the company's overall financial health.

SLR Investment Corp. (NASDAQ: SLRC) and SLR Senior Investment Corp. (NASDAQ: SUNS) have announced a merger agreement, with SLRC as the surviving entity pending stockholder approval. SUNS shareholders will receive SLRC shares equivalent to their NAV at closing, resulting in an ownership split of 77.2% for SLRC and 22.8% for SUNS. The merger aims to enhance net investment income through operational synergies and a 25 basis points management fee reduction. The combined entity will maintain a quarterly distribution of $0.41 per share, and is expected to close in the first half of 2022.

SLR Investment Corp. (NASDAQ: SLRC) reported net investment income of $15.0 million, or $0.36 per share, for Q3 2021. The net asset value (NAV) stood at $20.20 per share. A fourth quarter distribution of $0.41 per share has been declared, payable on January 5, 2022. The company achieved comprehensive portfolio growth, with investments totaling $358.0 million during the quarter, alongside $260.5 million in repayments. The net debt-to-equity ratio was 0.79x, indicating solid leverage positioning.