Every 10-Q that PRINCETON CAPITAL CORP (PIAC) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow PIAC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full PIAC filings page.
Princeton Capital Corporation, a business development company, reported a continued decline in net assets for the six months ended June 30, 2026. Net assets fell to $13.6 million from $14.3 million at December 31, 2025, and net asset value per share decreased from $0.118 to $0.112.
For the first half of 2026, the company generated total investment income of $419,086 and incurred operating expenses of $656,718, resulting in a net investment loss after taxes of $237,860, an improvement versus a $684,098 loss a year earlier. Additional unrealized losses on investments of $458,421 drove a total net decrease in net assets from operations of $696,281. The portfolio is highly concentrated in four U.S. borrowers with fair value of $13.8 million versus aggregate cost of $34.1 million, and all investments are Level 3, indicating significant valuation uncertainty. The company did not qualify as a RIC for 2025 and does not expect to qualify for 2026, and its strategic alternatives review that began in 2019 remains ongoing with no transaction completed.
Princeton Capital Corporation reported a small but continued decline in value for the quarter ended March 31, 2026. Net assets fell to $13.6 million from $14.3 million, driven by a net decrease in net assets from operations of $632,479, mainly unrealized losses on investments. Net investment loss after taxes was $277,432, as modest investment income of $73,405 was outweighed by $350,723 of operating expenses. Net asset value per share slipped to $0.113 from $0.118, with 120,486,061 shares outstanding. The portfolio’s fair value was $13.9 million versus a cost of $34.1 million, concentrated in four U.S. borrowers across casual dining, staffing, energy services, and industrial products. The company remains a BDC, is currently taxed as a C corporation, has not declared dividends, and continues to pursue a strategic alternatives process without a completed transaction.
Princeton Capital Corporation reported a net decrease in net assets from operations of $1,012,635 for the quarter ended September 30, 2025. Net assets were $17,465,883, down from $21,043,266 at year-end, and NAV per share declined to $0.145 from $0.175.
Total investments at fair value were $16,654,297 versus $19,217,779 at December 31, 2024. Quarterly investment income was $25,734 against operating expenses of $326,235, resulting in a net investment loss. For the nine months, the net decrease in net assets from operations was $3,577,383.
The portfolio remains concentrated in Level 3 assets and control positions, with key exposures in Casual Dining ($7.40M fair value), Nickel Pipe, Fittings and Flanges ($4.49M), Staffing ($3.77M), and Energy Services ($0.996M). The company did not qualify as a RIC for 2024 and does not expect to qualify for 2025; no dividends were declared. A strategic alternatives process remains ongoing. Cash, cash equivalents and restricted cash totaled $540,349 at period end.