Investcorp Credit Management BDC(ICMB) - 2025 Q3 - Quarterly Results

Financial Performance - Total assets as of March 31, 2025, were $207.6 million, with a net asset value per share of$5.42, reflecting an increase of $0.03 from the previous quarter[3][4][15] - Net investment income before taxes for the quarter was$0.7 million, or $0.05 per share, a decrease from$2.19 million in the same quarter last year[10][17] - The net increase in net assets from operations for the quarter was $2.2 million, or$0.15 per share, compared to $2.41 million in the same quarter last year[10][17] - The company declared a distribution of$0.12 per share for the quarter, representing a yield of 14.95% based on a share price of $3.21 as of March 31, 2025[4][7] Investment Activities - The company made investments totaling$5.1 million in one new portfolio company and two existing portfolio companies during the quarter, achieving a weighted average yield of 10.22% on these debt investments[4][8] - Total proceeds from repayments, sales, and amortization during the quarter amounted to $7.3 million, primarily from the realization of specific term loans[9] - The internal rate of return on fully realized investments during the quarter was 9.55$2.0 million in two existing portfolio companies[13] Portfolio Composition - As of March 31, 2025, the investment portfolio consisted of 43 portfolio companies, with 77.04% in first lien investments and 98.18% of the debt portfolio in floating rate investments[11][15] - The company targets middle-market companies with annual revenues of at least $50 million and EBITDA of at least$15 million[18] Regulatory and Forward-Looking Statements - The company is regulated as a business development company under the Investment Company Act of 1940[18] - Forward-looking statements made during the earnings call are based on current expectations and involve substantial risks and uncertainties[19] - Investors are cautioned against placing undue reliance on forward-looking statements due to potential market volatility and other factors[20] - Actual results may differ materially from anticipated results due to various risks and uncertainties[20] - The company has no obligation to publicly update or revise forward-looking statements except as required by law[20] Cash and Liquidity - The company had $13.0 million in cash, with$10.7 million classified as restricted cash, and $44.0 million of unused capacity under its revolving credit facility[12]