Palmer Square Capital BDC Inc
For the period ended Sep 30, 2024. Filed Nov 5, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 5, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 2. Results of Operations
| Net Investment Income(1) | 1.48 | 1.68 |
|---|---|---|
| Net Realized and Unrealized Gain (Loss) on Investments(4) | (0.48) | 1.74 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 1.00 | 3.42 |
| Distributions to Common Stockholders | ||
| Distributions from Net Investment Income | (1.43) | (1.62) |
| Net Decrease in Net Assets Resulting from Distributions | (1.43) | (1.62) |
| Net Asset Value, End of Period | $16.61 | $16.76 |
| Shares Outstanding, End of Period | 32,623,502 | 26,665,813 |
| Ratio/Supplemental Data | ||
| Net assets, end of period | $541,937,155 | $446,859,594 |
| Weighted-average shares outstanding | 32,260,537 | 25,359,324 |
| Total Return(3) | 6.23% | 23.20% |
| Portfolio turnover | 23% | 19% |
| Ratio of operating expenses to average net assets without waiver(2) | 14.72% | 13.18% |
| Ratio of operating expenses to average net assets with waiver(2) | 14.70% | 12.93% |
| Ratio of net investment income (loss) to average net assets without waiver(2) | 11.54% | 13.59% |
| Ratio of net investment income (loss) to average net assets with waiver(2) | 11.55% | 13.84% |
(1)
The per common share data was derived by using weighted average shares outstanding.
(2)
The ratios reflect an annualized amount.
(3)
Total return is calculated as the change in net asset value (“NAV”) per share during the period, plus distributions per share (if any), divided by the beginning NAV per share. Total return is not annualized. Assumes reinvestment of distributions.
(4)
Realized and unrealized gains and losses per share in this caption are balancing amounts necessary to reconcile the change in net asset value per share for the period, and may not reconcile with the aggregate gains and losses in the Consolidated Statements of Operations due to share transactions during the period.
Note 12. Subsequent Events
The Company’s management has evaluated subsequent events through the date of issuance of the consolidated financial statements included herein. There have been no subsequent events that require recognition or disclosure in these consolidated financial statements, except for the following:
Distributions
On October 14, 2024, the Company paid a distribution in the amount of $15,333,270, or $0.47 per share, to shareholders on record as of September 27, 2024.
Unfunded Capital Commitments
On October 1, 2024, $32,143 of the outstanding commitment to Accession Risk Management Group, Inc. was funded. The balance of the remaining unfunded commitment is $199,286.
On October 28, 2024, $59,887 of the outstanding commitment to Aptean Inc. was funded. The balance of the remaining unfunded commitment is $535,581.
On October 29, 2024, $20,127 of the outstanding commitment to Enverus Holdings, Inc. was funded. Due to paydown activity post period end, the unfunded commitment remains $442,783.
On October 30, 2024, $5,960 of the outstanding commitment to Aptean Inc. was funded. The balance of the remaining unfunded commitment is $529,621.
On October 30, 2024, $199,286, the remaining outstanding commitment to Accession Risk Management Group, Inc. was funded.
On October 31, 2024, $5,989 of the outstanding commitment to USIC Holdings, Inc. was funded. The balance of the remaining unfunded commitment is $139,276.
On November 1, 2024, $493,000 of the outstanding commitment to Patriot Growth Insurance Services, LLC was funded. The balance of the remaining unfunded commitment is $2,338,000.
From October 1, 2024 to November 5, 2024, the Company repurchased 1,930 shares of its common stock pursuant to the Company Rule 10b5-1 Repurchase Plan at an aggregate price of $30,585.
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