Fidus Investment Corp. Files Q3 2024 10-Q

TL;DR

**FDUS Q3 10-Q is IN: Check out AmeriWater & Component Mfg debt details.**

AI Summary

Fidus Investment Corp. (FDUS) filed its 10-Q for the period ending September 30, 2024. The company reported its financial results, including details on its investment portfolio and debt structure. Specific investments mentioned include AmeriWater, LLC and Component Manufacturing, with details on their respective debt rates and PIK (Payment-in-Kind) features.

Why It Matters

This filing provides investors with a detailed look into Fidus Investment Corp.'s financial health and investment strategy for the third quarter of 2024, impacting decisions about their holdings.

Risk Assessment

Risk Level: medium — The filing details specific investments and debt structures, which carry inherent risks related to the performance of those underlying companies and the terms of the debt.

Key Numbers

• 7.00% — Interest Rate (Rate on Subordinated Debt for AmeriWater, LLC)

Key Players & Entities

• FIDUS INVESTMENT Corp (company) — Filer of the 10-Q
• 20240930 (date) — End of the reporting period
• AmeriWater, LLC (company) — Investment held by FDUS
• Component Manufacturing (company) — Investment held by FDUS
• 7.00% (dollar_amount) — Interest rate on Subordinated Debt for AmeriWater, LLC

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share FDUS The NASDAQ Global Se

Filing Documents

• fdus-20240930.htm (10-Q) — 9925KB
• fdus-ex31_1.htm (EX-31.1) — 13KB
• fdus-ex31_2.htm (EX-31.2) — 14KB
• fdus-ex32_1.htm (EX-32.1) — 12KB
• 0000950170-24-119521.txt ( ) — 34099KB
• fdus-20240930.xsd (EX-101.SCH) — 2047KB
• fdus-20240930_htm.xml (XML) — 10306KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements. Consolidated Statements of Assets and Liabilities — September 30, 2024 (unaudited) and December 31, 2023 3 Consolidated Statements of Operations — three and nine months ended September 30, 2024 (unaudited) and 2023 (unaudited) 4 Consolidated Statements of Changes in Net Assets — three and nine months ended September 30, 2024 (unaudited) and 2023 (unaudited) 5 Consolidated Statements of Cash Flows — three and nine months ended September 30, 2024 (unaudited) and 2023 (unaudited) 6 Consolidated Schedules of Investments — September 30, 2024 (unaudited) and December 31, 2023 7

Notes to Consolidated Financial Statements (unaudited)

Notes to Consolidated Financial Statements (unaudited) 18 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations . 41 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 58 Item 4.

Controls and Procedures

Controls and Procedures 59

— OTHER INFORMATION

PART II — OTHER INFORMATION Item 1. Legal Proceedings. 59 Item 1A. Risk Factors. 59 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 59 Item 3. Defaults Upon Senior Securities. 60 Item 4. Mine Safety Disclosures. 60 Item 5. Other Information. 60 Item 6. Exhibits. 61

— FINANCIAL INFORMAT ION

PART I — FINANCIAL INFORMAT ION

Financia l Statements

Item 1. Financia l Statements. FIDUS INVESTMENT CORPORATION Consolidated Statements of A ssets and Liabilities (in thousands, except shares and per share data) September 30, 2024 December 31, (unaudited) 2023 ASSETS Investments, at fair value: Control investments (cost: $ 6,832 and $ 6,832 , respectively) $ — $ — Affiliate investments (cost: $ 48,019 and $ 46,485 , respectively) 85,827 83,876 Non-control/non-affiliate investments (cost: $ 1,019,953 and $ 883,312 , respectively) 1,004,848 874,030 Total investments, at fair value (cost: $ 1,074,804 and $ 936,629 , respectively) 1,090,675 957,906 Cash and cash equivalents 54,443 119,131 Interest receivable 14,317 11,965 Prepaid expenses and other assets 1,618 1,896 Total assets $ 1,161,053 $ 1,090,898 LIABILITIES SBA debentures, net of deferred financing costs (Note 6) $ 170,472 $ 204,472 Notes, net of deferred financing costs (Note 6) 248,081 247,243 Borrowings under Credit Facility, net of deferred financing costs (Note 6) 38,853 ( 1,082 ) Secured borrowings 14,025 15,880 Accrued interest and fees payable 3,544 5,924 Base management fee payable, net of base management fee waiver – due to affiliate 4,784 4,151 Income incentive fee payable – due to affiliate 5,059 4,570 Capital gains incentive fee payable – due to affiliate 14,914 17,509 Administration fee payable and other – due to affiliate 619 789 Taxes payable 751 1,227 Accounts payable and other liabilities 1,190 741 Total liabilities $ 502,292 $ 501,424 Commitments and contingencies (Note 7) NET ASSETS Common stock, $ 0.001 par value ( 100,000,000 shares authorized, 33,914,652 and 30,438,979 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively) $ 34 $ 31 Additional paid-in capital 572,159 504,298 Total distributable earnings 86,568 85,145 Tot

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