OFS Capital Corporation reported a net asset value (NAV) of $10.91 per share as of June 30, 2025, a decrease from $12.85 at the end of the previous fiscal period. The company experienced a net loss of $9.6 million for the quarter, primarily due to a net realized loss on investments of $12.9 million, which included significant unrealized depreciation on its common equity investment in Pfanstiehl Holdings, Inc. The total investment income for the quarter was $10.5 million, slightly up from $10.3 million in the prior quarter, driven by an increase in non-recurring fee income.
In terms of operational metrics, OFS Capital's total outstanding debt decreased to $243.4 million from $248.1 million in the previous quarter. The weighted average interest cost on debt remained stable at 6.21%. The company had cash and cash equivalents of $10.2 million and unused commitments of $25 million under its Banc of California Credit Facility and $86.6 million under its BNP Facility, both of which are subject to borrowing base requirements and other covenants. As of June 30, 2025, the company had unfunded commitments of $16.1 million to ten portfolio companies.
The company’s investment portfolio consisted of $211.3 million in debt investments across 35 portfolio companies, with approximately 85% classified as first lien debt. Additionally, OFS Capital held equity investments in 15 portfolio companies valued at approximately $98.9 million and structured finance securities worth $72.6 million. The company reported that 4.6% of its total portfolio at fair value and 12.1% of its net assets were comprised of structured finance securities managed by a single adviser.
Looking ahead, OFS Capital has declared a distribution of $0.34 per share for the third quarter of 2025, payable on September 30, 2025. The company is also in the process of redeeming a portion of its Unsecured Notes due February 2026, with notices issued to redeem $94 million of the outstanding amount. The company continues to monitor market conditions and its liquidity position, particularly in light of the ongoing volatility in the financial markets and potential impacts from interest rate changes.
About OFS Capital Corp
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