PennantPark Floating Rate Capital Ltd. Relocates HQ

TL;DR

PFLT moved its HQ to Miami Beach, FL. New address is 1691 Michigan Ave.

AI Summary

PennantPark Floating Rate Capital Ltd. (PFLT) filed an 8-K on April 18, 2024, reporting on its results of operations and financial condition. The filing indicates a change in its principal executive offices to 1691 Michigan Avenue, Miami Beach, Florida, 33139, effective April 16, 2024. The company was formerly known as PennantPark Senior Floating Rate Fund Inc. and changed its name on October 29, 2010.

Why It Matters

This filing signals a change in the company's operational base, which could impact local operations and investor relations depending on the reasons for the move.

Risk Assessment

Risk Level: low — The filing is a routine update on the company's operational address and does not contain information about significant financial changes or risks.

Key Numbers

• 20240418 — Filing Date (Date the 8-K was filed with the SEC.)
• 20240416 — Effective Date of Change (Date the change in principal executive offices became effective.)

Key Players & Entities

• PennantPark Floating Rate Capital Ltd. (company) — Registrant
• Miami Beach, Florida (location) — New principal executive offices
• 1691 Michigan Avenue (location) — New principal executive offices address
• PennantPark Senior Floating Rate Fund Inc. (company) — Former name

FAQ

Key Financial Figures

• $0.001 — ch Registered Common Stock, par value $0.001 per share PFLT The New York Stock E
• $11.37 — e per share was estimated to be between $11.37 and $11.42 per common share at March 31
• $11.42 — was estimated to be between $11.37 and $11.42 per common share at March 31, 2024. Thi
• $11.20 — o a net asset value per common share of $11.20 at December 31, 2023. - Net investmen
• $0.30 — ment income was estimated to be between $0.30 and $0.32 per common share for the quar
• $0.32 — e was estimated to be between $0.30 and $0.32 per common share for the quarter ended
• $0.33 — is compares to net investment income of $0.33 per common share for the quarter ended
• $1.48 b — investment portfolio at fair value was $1.48 billion, compared to $1.27 billion as of
• $1.27 billion — ir value was $1.48 billion, compared to $1.27 billion as of December 31, 2023. - One loan w
• $867.1 million — 31, 2024, the Company had approximately $867.1 million of total debt consisting of, $168.9 mil
• $168.9 million — .1 million of total debt consisting of, $168.9 million of borrowings outstanding under the Cre
• $185.0 million — ding under the Credit Facility at cost, $185.0 million in aggregate principal amount of 4.25%
• $226.3 million — nt of 4.25% Notes due 2026 outstanding, $226.3 million in aggregate principal amount of asset-
• $287.0 million — sting of various notes due in 2031, and $287.0 million in aggregate principal amount of asset-
• $125.3 million — At March 31, 2024, we had approximately $125.3 million in cash and approximately $217.1 millio

Filing Documents

• pflt-20240416.htm (8-K) — 50KB
• 0000950170-24-045307.txt ( ) — 222KB
• pflt-20240416.xsd (EX-101.SCH) — 60KB
• pflt-20240416_htm.xml (XML) — 4KB

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition Preliminary Estimates of Results as of March 31, 2024 On April 18, 2024, PennantPark Floating Rate Capital Ltd. (the "Company") announced certain preliminary estimates of its financial results for the quarter ended March 31, 2024. - Net asset value per share was estimated to be between $11.37 and $11.42 per common share at March 31, 2024. This compares to a net asset value per common share of $11.20 at December 31, 2023. - Net investment income was estimated to be between $0.30 and $0.32 per common share for the quarter ended March 31, 2024. This compares to net investment income of $0.33 per common share for the quarter ended December 31, 2023. - Core net investment income (1) was estimated to be between $0.30 and $0.32 per common share for the quarter ended March 31, 2024. This compares to core net investment income of $0.33 per common share for the quarter ended December 31, 2023. - The investment portfolio at fair value was $1.48 billion, compared to $1.27 billion as of December 31, 2023. - One loan was added to non-accrual status in the quarter, which was the only loan on non-accrual at March 31, 2024, representing 0.4% of the portfolio at cost and 0.3% at fair market value. - As of March 31, 2024, the Company had approximately $867.1 million of total debt consisting of, $168.9 million of borrowings outstanding under the Credit Facility at cost, $185.0 million in aggregate principal amount of 4.25% Notes due 2026 outstanding, $226.3 million in aggregate principal amount of asset-backed debt consisting of various notes due in 2031, and $287.0 million in aggregate principal amount of asset-backed debt consisting of various notes due in 2036. - At March 31, 2024, we had approximately $125.3 million in cash and approximately $217.1 million in unused capacity under our credit facility. These estimates are subject to the completion of the Company's financial closing procedures and are not a c

Forward-Looking Statements

Forward-Looking Statements This report on Form 8-K may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. You should understand that under Section 27A(b)(2)(B) of the Securities Act and Section 21E(b)(2)(B) of the Exchange Act the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 do not apply to forward-looking statements made in periodic reports PennantPark Floating Rate Capital Ltd. files under the Exchange Act. All statements other than statements of historical facts included in this press release are forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the Securities and Exchange Commission. PennantPark Floating Rate Capital Ltd. undertakes no duty to update any forward-looking statement made herein. You should not place undue influence on such forward-looking statements as such statements speak only as of the date on which they are made.

01 Other Information

Item 8.01 Other Information The information set forth under Item 2.02 above is incorporated herein by reference. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: April 18, 2024 PENNANTPARK FLOATING RATE CAPITAL LTD. By: /s/ Richard T. Allorto, Jr. Richard T. Allorto, Jr. Chief Financial Officer & Treasurer

View Full Filing

View this 8-K filing on SEC EDGAR