PhenixFIN Corp Files 2024 Annual Report

TL;DR

PhenixFIN Corp (formerly Medley Capital) filed its 2024 10-K. Check financials.

AI Summary

PhenixFIN Corporation filed its annual report on Form 10-K for the fiscal year ended September 30, 2024. The company, formerly known as Medley Capital Corp, is incorporated in Delaware and headquartered at 445 Park Avenue, New York, NY. The filing covers its operations and financial status for the period.

Why It Matters

This 10-K filing provides investors and stakeholders with a comprehensive overview of PhenixFIN Corporation's financial performance, business operations, and risk factors for the fiscal year 2024.

Risk Assessment

Risk Level: medium — This is a standard annual report filing providing historical financial information and business overview, without immediate new material risks disclosed.

Key Numbers

• 27-4576073 — IRS Number (Company's Employer Identification Number)
• 1-35040 — SEC File Number (Commission file number for the company)

Key Players & Entities

• PhenixFIN Corporation (company) — Registrant
• Medley Capital Corp (company) — Former company name
• September 30, 2024 (date) — Fiscal year end
• 445 Park Avenue, New York, NY (location) — Principal executive offices

FAQ

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share PFX The NASDAQ Global Market

Filing Documents

• ea0222804-10k_phenix.htm (10-K) — 4058KB
• ea022280401ex10-13_phenix.htm (EX-10.13) — 74KB
• ea022280401ex10-14_phenix.htm (EX-10.14) — 70KB
• ea022280401ex31-1_phenix.htm (EX-31.1) — 7KB
• ea022280401ex31-2_phenix.htm (EX-31.2) — 7KB
• ea022280401ex32-1_phenix.htm (EX-32.1) — 5KB
• ea022280401ex99-2_phenix.htm (EX-99.2) — 92KB
• image_001.jpg (GRAPHIC) — 82KB
• ex99-2_001.jpg (GRAPHIC) — 5KB
• 0001213900-24-109444.txt ( ) — 16168KB
• pfx-20240930.xsd (EX-101.SCH) — 96KB
• pfx-20240930_cal.xml (EX-101.CAL) — 49KB
• pfx-20240930_def.xml (EX-101.DEF) — 462KB
• pfx-20240930_lab.xml (EX-101.LAB) — 686KB
• pfx-20240930_pre.xml (EX-101.PRE) — 472KB
• ea0222804-10k_phenix_htm.xml (XML) — 3556KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 23 Item 1B. Unresolved Staff Comments 50 Item 1C. Cybersecurity 50 Item 2.

Properties

Properties 51 Item 3.

Legal Proceedings

Legal Proceedings 51 Item 4. Mine Safety Disclosures 51 PART II 52 Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 52 Item 6. [Reserved] 54 Item 7.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 57 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 70 Item 8. Consolidated Financial Statements and Supplementary Data F-1 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 71 Item 9A.

Controls and Procedures

Controls and Procedures 71 Item 9B. Other Information 71 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 71 PART III 72 Item 10. Directors, Executive Officers and Corporate Governance 72 Item 11.

Executive Compensation

Executive Compensation 72 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 72 Item 13. Certain Relationships and Related Transactions, and Director Independence 72 Item 14. Principal Accountant Fees and Services 72 PART IV 73 Item 15. Exhibits and Financial Statement Schedules 73

Signatures

Signatures 76 i PART I

Business

Item 1. Business GENERAL PhenixFIN Corporation ("PhenixFIN", the "Company," "we" and "us") is an internally-managed non-diversified closed-end management investment company incorporated in Delaware that has elected to be regulated as a business development company ("BDC") under the Investment Company Act of 1940, as amended (the "1940 Act"). We completed our initial public offering ("IPO") and commenced operations on January 20, 2011. The Company has elected, and intends to qualify annually, to be treated, for U.S. federal income tax purposes, as a regulated investment company ("RIC") under Subchapter M of the Internal Revenue Code of 1986, as amended (the "Code"). Through December 31, 2020, we were an externally managed company. Since January 1, 2021, we have operated under our present internalized management structure. The Company has formed and expects to continue to form certain taxable subsidiaries (the "Taxable Subsidiaries"), which are taxed as corporations for federal income tax purposes. These Taxable Subsidiaries allow us to, among other things, hold equity securities of portfolio companies organized as pass-through entities while continuing to satisfy the requirements to qualify as a RIC under the Code. The Company's investment objective is to generate current income and capital appreciation. The management team seeks to achieve this objective primarily through making loans, private equity investments in privately-held companies. The Company may also make debt, equity or other investments in publicly-traded companies. (These investments may also include investments in other BDCs, closed-end funds or real estate investment trusts ("REITs").) We also pursue other strategic opportunities and invest in other assets or operate other businesses to achieve our investment objective, such as operating and managing an asset-based lending business. The portfolio generally consists of senior secured first lien term loans, senior secured second lien term loans,

View Full Filing

View this 10-K filing on SEC EDGAR