Silver Spike Investment Corp. Reports Second Quarter Fiscal 2023 Financial Results
Silver Spike Capital, LLC is the external manager of Silver Spike Investment Corp. (“Silver Spike”), the first Nasdaq-listed specialty finance company that was formed to invest across the cannabis ecosystem through investments in the form of direct loans to, and equity ownership of, privately held cannabis companies. Silver Spike recently announced its financial results for the quarter ended September 30, 2022.
Second Quarter 2023 Highlights
- Total investment income of $1.2 million
- Net investment income of $0.6 million, or $0.09 per share
- Investment portfolio of $24.5 million at fair value
- Net asset value (“NAV”) per share increased to $13.73 on September 30, 2022 from $13.64 on June 30, 2022
Scott Gordon, Chairman and Chief Executive Officer of Silver Spike, commented, “We continue leveraging our platform’s direct origination engine to build a robust pipeline of attractive lending opportunities. Our rigorous underwriting standards and time-tested specialized structuring skills position Silver Spike as one of the leading providers of credit to a regulatorily complex and rapidly-growing industry with little access to traditional sources of capital. Throughout the quarter, our investment adviser diligenced several potential private and public company borrowers. In the month of October, we made three investments that were largely a result of these diligence efforts.”
You can watch Spotlight Family Office Group’s recent video discussion with Silver Spike Capital on underserved, growth-market lending in cannabis here.