Welcome to our dedicated page for Whitehorse news (Ticker: WHF), a resource for investors and traders seeking the latest updates and insights on Whitehorse stock.
WhiteHorse Finance, Inc. operates as a business development company focused on debt investments in privately held, lower middle market U.S. companies. News about WHF centers on quarterly earnings, declared distributions, portfolio originations, repayments and realizations, and management of credit performance across senior secured loans and related investments.
Company updates also cover activity involving STRS JV, share repurchase authorization and execution, liquidity and risk management commentary, and the timing of financial-results releases and conference calls. Recurring themes include portfolio composition, investment selectivity, underperforming credits, taxable-income distributions, and changes affecting book value and net asset value.
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.
WhiteHorse Finance (NASDAQ: WHF) will release its Q2 financial results for the period ended June 30, 2020, on August 10, 2020. A conference call will take place at 2:00 p.m. ET to discuss the results. Investors can dial 706-758-9224 to join the call or access it via the company's website. A replay will be available until August 17, 2020. WhiteHorse Finance is a business development company focusing on loans to lower middle market companies, managed by H.I.G. WhiteHorse Advisers, LLC.