Whitehorse Stock Price, News & Analysis

WhiteHorse Finance (WHF) reported its financial results for the year ended December 31, 2020. The net asset value stood at $312.9 million, or $15.23 per share. Total investment portfolio reached $690.7 million, with gross investment deployments of $286.9 million for the year. Net investment income dropped to $24.2 million, a decrease of 22.4% year-over-year. The company declared a distribution of $0.355 per share for Q1 2021, payable on April 5. CEO Stuart Aronson highlighted a record origination volume in Q4 2020 despite market challenges.

WhiteHorse Finance (WHF) will release its fourth quarter and full year financial results for the period ending December 31, 2020 on March 2, 2021. A teleconference will be held at 2:30 p.m. ET to discuss these results. Investors can access the call by dialing 706-758-9224 or via the company's website. A replay will be available until March 9, 2021. WhiteHorse Finance focuses on originating and investing in loans for lower middle-market companies.

On December 7, 2020, H.I.G. Bayside Funds sold 4,863,172 shares of WhiteHorse Finance (WHF) to H.I.G. Bayside Loan Opportunity Fund IV, maintaining control within H.I.G. Capital. This transaction reduces H.I.G. Bayside Funds' stake from 51.25% to 23.67% since March 2019, driven by shareholder input to enhance liquidity. The Legacy Bayside Funds, WhiteHorse's largest shareholder since its IPO in 2012, had to divest due to term expiration. Future sales of WHF shares by Bayside Fund IV are anticipated but not detailed in this release.

WhiteHorse Finance announced the sale of $20 million in notes, consisting of $10 million of 5.375% notes due 2026 and $10 million of 5.625% notes due 2027. The offering is part of a follow-on to a previous $40 million issuance on October 20, 2020. Proceeds will be used for refinancing existing debt and general corporate purposes. The notes are unsecured and interest will be paid semiannually. If the notes lose their investment grade rating, interest rates may increase by 1.0%. Maturities are set for December 2026 and December 2027.

WhiteHorse Finance reported its financial results for Q3 2020, showcasing a net asset value of $314.6 million or $15.31 per share. The company declared a distribution of $0.355 per share for the quarter ending December 31, 2020, payable on January 5, 2021. Despite a 32.2% decline in net investment income year-over-year to $5.9 million, core net investment income stood at $7.8 million. The investment portfolio grew to $595.3 million with a weighted average yield of 9.9%, and a strong pipeline for Q4.

WhiteHorse Finance, Inc. (Nasdaq: WHF) announced the completion of a private offering of $40 million in 5.375% Notes due 2025. These unsecured notes are intended for refinancing existing debt and general corporate purposes. The interest on these notes may increase to 6.375% if they lose their investment grade rating. The notes will mature on October 20, 2025, unless preemptively redeemed. The offering was made to qualified institutional buyers and is not registered under the Securities Act, thus not available for public sale without registration.

WhiteHorse Finance, Inc. (WHF) will disclose its third quarter financial results for the period ending September 30, 2020, on November 9, 2020. A conference call to discuss these results will occur at 2:00 p.m. ET. Investors can access the call by dialing 706-758-9224 or through the investor relations section of their website. For those who miss the live event, a replay will be available until November 16, 2020. WhiteHorse Finance specializes in originating and investing in loans for lower middle-market companies.

WhiteHorse Finance, Inc. (Nasdaq: WHF) declared a special distribution of $0.125 per share, set for payment on December 10, 2020, to stockholders on record by October 30, 2020. This distribution arises from taxable earnings, potentially including return of capital or capital gains, which will be detailed on Form 1099-DIV post-year-end. WhiteHorse Finance operates as a business development company, focusing on loans to lower middle market companies with assets managed by H.I.G. Capital, holding approximately $40 billion in capital.

WhiteHorse Finance reported a net asset value of $300.2 million or $14.61 per share for Q2 2020. The investment portfolio totals $547.4 million, with a gross investment addition of $39.4 million. Net investment income fell to $5.2 million or $0.255 per share, a decrease of 27.8% year-over-year. A distribution of $0.355 per share was declared for Q3 2020, maintaining consistency in payments. The liquidity position improved, with outstanding borrowings reduced to minimum requirements, enabling future growth opportunities.