SLR Investment Corp. 10-Q: Investments and Debt Update

TL;DR

SLR Investment Corp. 10-Q filed. Portfolio includes senior loans & equipment financing. Debt maturities noted.

AI Summary

SLR Investment Corp. filed its 10-Q for the period ending September 30, 2024. The company reported on its investments, including senior secured loans and equipment financing. Notably, the filing references a term loan facility with CitiBank NA, with a maturity date of August 16, 2024, and an equipment financing agreement with Trinity Equipment, Inc. maturing in May 2028.

Why It Matters

This filing provides insight into SLR Investment Corp.'s current investment portfolio and financial obligations, which can impact its future performance and investor returns.

Risk Assessment

Risk Level: medium — The filing details various debt instruments and investment types, indicating potential exposure to market fluctuations and credit risks.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the specific date for which financial information is reported.)
• 2024-11-06 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• SLR Investment Corp. (company) — Filer of the 10-Q
• September 30, 2024 (date) — End of reporting period
• CitiBank NA (company) — Lender in a term loan facility
• August 16, 2024 (date) — Maturity date of a term loan
• Trinity Equipment, Inc (company) — Party to an equipment financing agreement
• May 2028 (date) — Maturity date of equipment financing

FAQ

Key Financial Figures

• $0.01 — ch Registered Common Stock, par value $0.01 per share SLRC The NASDAQ Global Se

Filing Documents

• ck0001418076-20240930.htm (10-Q) — 8497KB
• ck0001418076-ex14_1.htm (EX-14.1) — 71KB
• ck0001418076-ex19_1.htm (EX-19.1) — 327KB
• ck0001418076-ex23_1.htm (EX-23.1) — 5KB
• ck0001418076-ex31_1.htm (EX-31.1) — 12KB
• ck0001418076-ex31_2.htm (EX-31.2) — 12KB
• ck0001418076-ex31_3.htm (EX-31.3) — 12KB
• ck0001418076-ex32_1.htm (EX-32.1) — 8KB
• ck0001418076-ex32_2.htm (EX-32.2) — 8KB
• ck0001418076-ex32_3.htm (EX-32.3) — 9KB
• 0000950170-24-122234.txt ( ) — 29049KB
• ck0001418076-20240930.xsd (EX-101.SCH) — 1703KB
• ck0001418076-20240930_htm.xml (XML) — 7012KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements Consolidated Statements of Assets and Liabilities as of September 30, 2024 (unaudited) and December 31, 2023 3 Consolidated Statements of Operations for the three and nine months ended September 30, 2024 (unaudited) and the three and nine months ended September 30, 2023 (unaudited) 4 Consolidated Statements of Changes in Net Assets for the three and nine months ended September 30, 2024 (unaudited) and the three and nine months ended September 30, 2023 (unaudited) 5 Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 (unaudited) and the nine months ended September 30, 2023 (unaudited) 6 Consolidated Schedule of Investments as of September 30, 2024 (unaudited) 7 Consolidated Schedule of Investments as of December 31, 2023 18

Notes to Consolidated Financial Statements (unaudited)

Notes to Consolidated Financial Statements (unaudited) 29 Report of Independent Registered Public Accounting Firm 51 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 52 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 73 Item 4.

Controls and Procedures

Controls and Procedures 74

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 75 Item 1A.

Risk Factors

Risk Factors 75 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 76 Item 3. Defaults Upon Senior Securities 76 Item 4. Mine Safety Disclosures 76 Item 5. Other Information 76 Item 6. Exhibits 77

Signatures

Signatures 78 Table of Contents

FINA NCIAL INFORMATION

PART I. FINA NCIAL INFORMATION In this Quarterly Report, "Company," "we," "us," and "our" refer to SLR Investment Corp. unless the context states otherwise. Item1. Fin ancial Statements SLR INVESTMENT CORP. CONSOLIDATED STATEMENTS O F ASSETS AND LIABILITIES (in thousands, except share amounts) September 30, 2024 (unaudited) December 31, 2023 Assets Investments at fair value: Companies less than 5% owned (cost: $ 1,096,486 and $ 1,260,205 , respectively) $ 1,107,241 $ 1,271,442 Companies 5% to 25% owned (cost: $ 102,661 and $ 60,064 , respectively) 90,259 44,250 Companies more than 25% owned (cost: $ 905,374 and $ 870,128 , respectively) 874,528 839,074 Cash 22,959 11,864 Cash equivalents (cost: $ 322,674 and $ 332,290 , respectively) 322,674 332,290 Dividends receivable 12,151 11,768 Interest receivable 10,459 11,034 Receivable for investments sold 1,870 1,538 Prepaid expenses and other assets 771 608 Total assets $ 2,442,912 $ 2,523,868 Liabilities Debt ($ 1,111,827 and $ 1,183,250 face amounts, respectively, reported net of unamortized debt issuance costs of $ 9,873 and $ 5,473 , respectively. See note 7) $ 1,101,954 $ 1,177,777 Payable for investments and cash equivalents purchased 322,694 332,290 Management fee payable (see note 3) 7,893 8,027 Performance-based incentive fee payable (see note 3) 6,036 5,864 Interest payable (see note 7) 6,303 7,535 Administrative services payable (see note 3) 2,502 1,969 Other liabilities and accrued expenses 2,845 3,767 Total liabilities $ 1,450,227 $ 1,537,229 Commitments and contingencies (see note 9) Net Assets Common stock, par value $ 0.01 per share, 200,000,000 and 200,000,000 common shares authorized, respectively, and 54,554,634 and 54,554,634 shares issued and outstanding, respectively $ 546 $ 546 Paid-in capital in excess of par 1,117,930 1,117,930 Accumu

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