Exhibit 99.1
MidCap Financial Investment Corporation
Reports Financial Results for the Quarter Ended September 30, 2022,
and Increases Quarterly Base Dividend to $0.37 Per Share
Fiscal Second Quarter and Other Recent Highlights:
| • | | Net investment income per share for the quarter was $0.35 compared to $0.37 for the quarter ended June 30, 2022 |
| • | | Net asset value per share as of the end of the quarter was $15.45 compared to $15.52 as of June 30, 2022, a decrease of 0.5% |
| • | | New investment commitments made during the quarter totaled $21 million(1) |
| • | | Gross fundings for the quarter totaled $113 million(2) and gross exits totaled $196 million, resulting in net repayments of $83 million |
| • | | Reduced net leverage(3) to 1.42x as of September 30, 2022 compared to 1.58x as of June 30, 2022 |
| • | | Increased base dividend to $0.37 per share for the quarter ending December 31, 2022(4) |
| • | | MidCap Financial,(5) made a $30 million primary investment in the Company at net asset value in August, as previously announced |
New York, NY — November 3, 2022 — MidCap Financial Investment Corporation (NASDAQ: MFIC) or the “Company,” today announced financial results for its second fiscal quarter ended September 30, 2022. The Company’s net investment income was $0.35 per share for the quarter ended September 30, 2022, compared to $0.37 per share for the quarter ended June 30, 2022. The Company’s net asset value (“NAV”) was $15.45 per share as of September 30, 2022, compared to $15.52 as of June 30, 2022.
On November 3, 2022, the Board of Directors declared a dividend of $0.37 per share payable on January 5, 2023 to shareholders of record as of December 19, 2022.
Mr. Tanner Powell, the Company’s Chief Executive Officer commented, “In the face of significant market volatility, we believe our corporate lending portfolio continues to perform well which, in our view, demonstrates the value of our senior investment strategy and the quality of our portfolio companies. Additionally, amid the challenging market conditions, we were able to generate considerable cash paydowns from several investments which we are seeking to reduce, including from our investment in Merx Aviation.” Mr. Powell continued “As a result of higher base rates, the strong performance of our portfolio, and the upcoming reduction in our fee structure, we are pleased to announce that we are increasing our quarterly base dividend to 37 cents per share.”
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