The following is a summary of the Silver Spike Investment Corp. (SSIC) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Silver Spike Investment Corp. reported Q1 2024 gross investment income of $2.8 million, increased from $2.5 million in Q1 2023.

• The firm incurred $0.8 million in expenses, excluding transaction-related costs, leading to a net investment income of $2 million.

• Transaction-related expenses totaled $2.1 million, bringing net investment income down to negative $0.1 million.

• Net assets was at $84.5 million, with a per-share investment income of $0.33, a significant improvement from $0.22 the previous year.

Business Progress:

• The company reported strong business growth, with a promising deal pipeline exceeding $425 million, and acquired a loan portfolio from Chicago Atlantic Loan Portfolio, LLC.

• The company's first lien loans or secured bonds remain in good standing, none in a non-accrual status.

• The potential elimination of the 280E tax effect on cannabis rescheduling is expected to benefit its portfolio firms through improved cash flow and credit metrics.

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