The following is a summary of the Silver Spike Investment Corp. (SSIC) Q4 2023 Earnings Call Transcript:
Financial Performance:
Silver Spike reported a Q4 gross investment income of $3.6 million compared to $2.9 million in the previous quarter.
Net investment income for the quarter was $1.7 million, with net investment income per share standing at $0.28.
The company's net assets amounted to $85.6 million at the end of the period, a slight decrease from last quarter due to dividend payments.
For the complete fiscal year 2023, total investment income was $11.9 million with expenditures totaling $5.3 million, including $0.7 million in expenses related to the loan portfolio acquisition.
Business Progress:
No new investments were made this quarter, with future discussions on origination efforts and portfolios scheduled.
An impending loan portfolio acquisition from Chicago Atlantic Loan Portfolio is expected to improve scale and liquidity, enhance portfolio diversity, and offer better access to debt and equity capital markets.
The investment strategy has been expanded to allow investments in companies outside the health and wellness sectors pending they meet the company's investment criteria.
They have an active pipeline of over $420 million for potential future business.
More details: Silver Spike Invt IR
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