MidCap Financial Investment Corp. Files Q2 2024 10-Q

TL;DR

**MIDCAP FINANCIAL FILES Q2 10-Q - FINANCIALS OUT**

AI Summary

MidCap Financial Investment Corp. filed its 10-Q for the period ending June 30, 2024. The filing details the company's financial performance and position. Key financial data and operational updates are provided for the quarter.

Why It Matters

This filing provides investors with a detailed look at MidCap Financial's financial health and operational performance during the second quarter of 2024, influencing investment decisions.

Risk Assessment

Risk Level: medium — As a financial investment corporation, MidCap is subject to market fluctuations and regulatory changes inherent in the financial services industry.

Key Numbers

• 0.33 — EPS (Diluted) (Indicates earnings per share for the period.)
• 0.33 — EPS (Basic) (Indicates basic earnings per share for the period.)

Key Players & Entities

• MidCap Financial Investment Corp. (company) — Filer of the 10-Q
• 20240630 (date) — End of reporting period
• 20240807 (date) — Filing date
• Apollo Investment Corp (company) — Former company name
• Apollo Capital Corp (company) — Former company name

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value 8.00% Notes due 2028 MFIC

Filing Documents

• mfic-20240630.htm (10-Q) — 20139KB
• mfic-ex31_1.htm (EX-31.1) — 14KB
• mfic-ex31_2.htm (EX-31.2) — 14KB
• mfic-ex32_1.htm (EX-32.1) — 8KB
• 0000950170-24-092876.txt ( ) — 87833KB
• mfic-20240630.xsd (EX-101.SCH) — 1595KB
• mfic-20240630_htm.xml (XML) — 17987KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1. Consolidated Financial Statements 1 Consolidated Statements of Assets and Liabilities June 30, 2024 and December 31, 2023 1 Consolidated Statements of Operations Three and six months ended June 30, 2024 and June 30, 2023 2 Consolidated Statements of Changes in Net Assets Three and six months ended June 30, 2024 and June 30, 2023 3 Consolidated Statements of Cash Flows Six months ended June 30, 2024 and June 30, 2023 4 Consolidated Schedule of Investments June 30, 2024 5 Consolidated Schedule of Investments December 31, 2023 40

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 70 Report of Independent Registered Public Accounting Firm 104 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 105 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 122 Item 4.

Controls and Procedures

Controls and Procedures 124

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 125 Item 1A.

Risk Factors

Risk Factors 125 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 125 Item 3. Defaults Upon Senior Securities 128 Item 4. Mine Safety Disclosures 128 Item 5. Other Information 128 Item 6. Exhibits 129

Signatures

Signatures 130 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION In this report, the terms the "Company," "MFIC," "we," "us," and "our" refer to MidCap Financial Investment Corporation unless the context specifically states otherwise.

Consolidated Financial Statements

Item 1. Consolidated Financial Statements MIDCAP FINANCIAL INVESTMENT CORPORATION CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES (In thousands, except share and per share data) June 30, 2024 December 31, 2023 (Unaudited) Assets Investments at fair value: Non-controlled/non-affiliated investments (cost — $ 2,107,071 and $ 2,012,273 , respectively) $ 2,031,569 $ 1,936,327 Non-controlled/affiliated investments (cost — $ 152,622 and $ 130,648 , respectively) 94,469 77,528 Controlled investments (cost — $ 375,637 and $ 395,221 , respectively) 318,314 320,344 Cash and cash equivalents 66,169 93,575 Foreign currencies (cost — $ 903 and $ 28,563 , respectively) 868 28,553 Receivable for investments sold 605 2,796 Interest receivable 20,139 21,441 Dividends receivable 694 1,327 Deferred financing costs 17,291 19,435 Prepaid expenses and other assets 1,008 5 Total Assets $ 2,551,126 $ 2,501,331 Liabilities Debt $ 1,511,552 $ 1,462,267 Payable for investments purchased 2,287 — Management and performance-based incentive fees payable 9,962 10,729 Interest payable 15,238 14,494 Accrued administrative services expense 1,836 1,657 Other liabilities and accrued expenses 6,492 6,874 Total Liabilities $ 1,547,367 $ 1,496,021 Commitments and contingencies (Note 8) Net Assets $ 1,003,759 $ 1,005,310 Net Assets Common stock, $ 0.001 par value ( 130,000,000 shares authorized; 65,253,275 and 65,253,275 shares issued and outstanding, respectively) $ 65 $ 65 Capital in excess of par value 2,103,718 2,103,718 Accumulated under-distributed (over-distributed) earnings ( 1,100,024 ) ( 1,098,473 ) Net Assets $ 1,003,759 $ 1,005,310 Net Asset Value Per Share $ 15.38 $ 15.41 See notes to the consolidated financial statements. 1 Table of Contents MIDCAP FINANCIAL INVESTMENT CORPORATION CO

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