Latest news with #ICMB
San Francisco Chronicle
7 days ago
- Business
- San Francisco Chronicle
Investcorp: Fiscal Q4 Earnings Snapshot
NEW YORK (AP) — NEW YORK (AP) — Investcorp Credit Management BDC, Inc. (ICMB) on Tuesday reported a loss of $434,000 in its fiscal fourth quarter. The New York-based company said it had a loss of 3 cents per share. Earnings, adjusted for investment costs, were 4 cents per share. The specialty finance company posted revenue of $4.5 million in the period.
Yahoo
7 days ago
- Business
- Yahoo
Investcorp: Fiscal Q4 Earnings Snapshot
NEW YORK (AP) — NEW YORK (AP) — Investcorp Credit Management BDC, Inc. (ICMB) on Tuesday reported a loss of $434,000 in its fiscal fourth quarter. The New York-based company said it had a loss of 3 cents per share. Earnings, adjusted for investment costs, were 4 cents per share. The specialty finance company posted revenue of $4.5 million in the period. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on ICMB at Sign in to access your portfolio
Business Wire
7 days ago
- Business
- Business Wire
Investcorp Credit Management BDC, Inc. Announces Financial Results for the Quarter Ended June 30, 2025, and Quarterly and Supplemental Distribution
NEW YORK--(BUSINESS WIRE)--Investcorp Credit Management BDC, Inc. (NASDAQ: ICMB) ('ICMB' or the 'Company') announced its financial results today for its fiscal quarter ended June 30, 2025. HIGHLIGHTS On August 7, 2025, the Company's Board of Directors (the 'Board') declared a distribution of $0.12 per share for the quarter ending September 30, 2025, payable in cash on October 9, 2025, to stockholders of record as of September 18, 2025, and a supplemental distribution of $0.02 per share, payable on October 9, 2025, to stockholders of record as of September 18, 2025. During the quarter, ICMB made investments in one new portfolio company and four existing portfolio companies. These investments totaled $19.0 million, at cost. The weighted average yield (at origination) of debt investments made in the quarter was 9.03%. ICMB fully realized its investments in three portfolio companies during the quarter, totaling $9.5 million in proceeds. The internal rate of return on these investments was 32.82%. During the quarter, the Company had net advances of $2.9 million on new and existing delayed draw and revolving credit commitments to portfolio companies. The weighted average yield on debt investments, at fair market value, for the quarter ended June 30, 2025, was 10.57%, compared to 10.95% for the quarter ended March 31, 2025. Net asset value decreased $0.15 per share to $5.27, compared to $5.42 as of March 31, 2025. Net assets decreased by $2.1 million, or 2.71%, during the quarter ended June 30, 2025 compared to March 31, 2025. Portfolio results, as of and for the three months ended June 30, 2025: Total assets $224.1mm Investment portfolio, at fair value $204.1mm Net assets $76.0mm Weighted average yield on debt investments, at fair market value (1) 10.57% Net asset value per share $5.27 Portfolio activity in the current quarter: Number of investments in new portfolio companies during the period 1 Number of portfolio companies invested in, end of period 43 Total capital invested in existing portfolio companies (2) $19.0mm Total proceeds from repayments, sales, and amortization (3) $10.2mm Net investment income before taxes (NII) $0.8mm Net investment income before taxes per share $0.06 Net decrease in net assets from operations ($0.4)mm Net decrease in net assets from operations per share ($0.03) Distributions paid per common share $0.12 (1) Represents average yield on total debt investments weighted by fair market value as of June 30, 2025. The weighted average yield on total debt investments reflected above does not represent actual investment returns to the Company's stockholders. (2) Includes gross advances for delayed draw and revolving credit commitments and PIK interest to existing portfolio companies. (3) Includes gross repayments on existing delayed draw and revolving credit commitments to portfolio companies. Expand Mr. Suhail A. Shaikh said 'We continued to execute our strategy with discipline during the second quarter, generating stable net investment income and maintaining strong credit quality despite a mixed headline environment. Our origination activity picked up late in the quarter, reflecting the strength of our sponsor relationships and our commitment to a highly selective investment approach. As we look ahead, we are encouraged by early signs of momentum and remain focused on repositioning the portfolio for long-term value creation.' The Company's dividend framework provides a quarterly base dividend and may be supplemented, at the discretion of the Board, by additional dividends as determined to be available by the Company's net investment income and performance during the quarter. On August 7, 2025, the Board declared a distribution for the quarter ended September 30, 2025 of $0.12 per share payable on October 9, 2025, to stockholders of record as of September 18, 2025, and a supplemental distribution of $0.02 per share, payable on October 9, 2025, to stockholders of record as of September 18, 2025. This distribution represents a 20.07% yield on the Company's $2.79 share price as of market close on June 30, 2025. Distributions may include net investment income, capital gains and/or return of capital, however, the Company does not expect the dividend for the quarter ending June 30, 2025, to be comprised of a return of capital. The Company's investment adviser monitors available taxable earnings, including net investment income and realized capital gains, to determine if a return of capital may occur for the year. The Company estimates the source of its distributions as required by Section 19(a) of the Investment Company Act of 1940 to determine whether payment of dividends are expected to be paid from any other source other than net investment income accrued for the current period or certain cumulative periods, but the Company will not be able to determine whether any specific distribution will be treated as taxable earnings or as a return of capital until after at the end of the taxable year. Portfolio and Investment Activities During the quarter, the Company made investments in one new portfolio company and four existing portfolio companies. The aggregate capital invested during the quarter totaled $19.0 million, at cost, and the debt investments were made at a weighted average yield of 9.03%. The Company received proceeds of $10.0 million from repayments, sales and amortization during the quarter, primarily related to the realization of American Auto Auction Term Loan, 4L Technologies Term Loan, and RESA Power Equity. During the quarter, the Company had net advances of $2.9 million on new and existing delayed draw and revolving credit commitments to portfolio companies. The Company's net realized, and unrealized gains and losses accounted for a decrease in the Company's net investments of approximately $1.0 million, or $0.07 per share. The total net decrease in net assets resulting from operations for the quarter was $0.4 million, or $0.03 per share. As of June 30, 2025, the Company's investment portfolio consisted of investments in 43 portfolio companies, of which 79.23% were first lien investments and 20.77% were equity, warrants, and other investments. The Company's debt portfolio consisted of 98.50% floating rate investments and 1.50% fixed rate investments. Capital Resources As of June 30, 2025, the Company had $17.3 million in cash, of which $14.4 million was restricted cash, and $29.5 million of unused and available capacity under its revolving credit facility with Capital One, N.A. Subsequent Events Subsequent to June 30, 2025 and through August 13, 2025, the Company invested a total of $0.2 million, at cost, which included investments in two existing portfolio companies. As of August 13, 2025, the Company had investments in 43 portfolio companies. On August 7, 2025, the Board declared a distribution for the quarter ended September 30, 2025 of $0.12 per share payable on October 9, 2025 to stockholders of record as of September 18, 2025, and a supplemental distribution of $0.02 per share, payable on October 9, 2025, to stockholders of record as of September 18, 2025. On August 7, 2025, the Board authorized a new share repurchase program of up to $5 million (the "2025 Stock Repurchase Program") for a one-year period, effective August 7, 2025 and terminating on August 7, 2026. The 2025 Stock Repurchase Program may be suspended or discontinued at any time. Subject to these restrictions, the Company will selectively pursue opportunities to repurchase shares which are accretive to net asset value per share. Investcorp Credit Management BDC, Inc. and Subsidiaries Consolidated Statements of Operations (unaudited) For the three months ended June 30, For the six months ended June 30, 2025 2024 2025 2024 Investment Income: Interest income Non-controlled, non-affiliated investments $ 3,778,683 $ 4,091,556 $ 7,266,885 $ 9,652,889 Non-controlled, affiliated investments (16,912 ) (16,919 ) (1,934 ) 11,911 Total interest income 3,761,771 4,074,637 7,264,951 9,664,800 Payment in-kind interest income Non-controlled, non-affiliated investments 342,127 747,479 762,015 1,361,244 Non-controlled, affiliated investments (243 ) 20,047 21,137 39,600 Total payment-in-kind interest income 341,884 767,526 783,152 1,400,844 Dividend income Non-controlled, non-affiliated investments — — 81,607 54,138 Non-controlled, affiliated investments — — — — Total dividend income — — 81,607 54,138 Payment in-kind dividend income Non-controlled, non-affiliated investments 231,057 204,298 452,742 402,421 Non-controlled, affiliated investments — — — — Total payment-in-kind dividend income 231,057 204,298 452,742 402,421 Other fee income Non-controlled, non-affiliated investments 210,487 72,858 331,511 215,205 Non-controlled, affiliated investments — — — — Total other fee income 210,487 72,858 331,511 215,205 Total investment income 4,545,199 5,119,319 8,913,963 11,737,408 Expenses: Interest expense 1,856,195 1,956,995 3,688,162 4,131,190 Base management fees 851,734 889,715 1,699,770 1,841,514 Income-based incentive fees (118,748 ) — (118,748 ) — Professional fees 277,287 257,800 618,570 612,734 Allocation of administrative costs from Adviser 227,874 241,918 481,897 467,774 Amortization of deferred debt issuance costs 153,824 152,590 307,648 305,181 Amortization of original issue discount - 2026 Notes 17,778 17,778 35,555 35,555 Insurance expense 126,009 127,768 246,511 253,534 Directors' fees 73,500 73,500 150,000 148,657 Custodian and administrator fees 74,000 101,236 148,237 169,267 Other expenses 243,714 118,556 283,887 497,962 Total expenses 3,783,167 3,937,856 7,541,489 8,463,368 Waiver of base management fees (72,026 ) (72,899 ) (146,169 ) (170,330 ) Waiver of income-based incentive fees — — — — Net expenses 3,711,141 3,864,957 7,395,320 8,293,038 Net investment income before taxes 834,058 1,254,362 1,518,643 3,444,370 Income tax expense (benefit), including excise tax expense 229,910 (54,740 ) 310,969 56,906 Net investment income after taxes $ 604,148 $ 1,309,102 $ 1,207,674 $ 3,387,464 Net realized and unrealized gain/(loss) on investments: Net realized gain (loss) from investments Non-controlled, non-affiliated investments $ 2,208,625 $ (1,828,530 ) $ 581,343 $ (1,860,514 ) Non-controlled, affiliated investments — — — (6,239,984 ) Net realized gain (loss) from investments 2,208,625 (1,828,530 ) 581,343 (8,100,498 ) Net change in unrealized appreciation (depreciation) in value of investments Non-controlled, non-affiliated investments (2,852,187 ) 1,221,420 527,662 2,311,028 Non-controlled, affiliated investments (394,884 ) (2,654,138 ) (544,685 ) 2,861,600 Net change in unrealized appreciation (depreciation) on investments (3,247,071 ) (1,432,718 ) (17,023 ) 5,172,628 Total realized gain (loss) and change in unrealized appreciation (depreciation) on investments (1,038,446 ) (3,261,248 ) 564,320 (2,927,870 ) Net increase (decrease) in net assets resulting from operations $ (434,298 ) $ (1,952,146 ) $ 1,771,994 $ 459,594 Basic and diluted: Earnings per share $ (0.03 ) $ (0.14 ) $ 0.12 $ 0.03 Weighted average shares of common stock outstanding 14,419,405 14,401,118 14,416,218 14,399,035 Distributions declared per common share $ 0.12 $ 0.15 $ 0.24 $ 0.30 Expand About Investcorp Credit Management BDC, Inc. The Company is an externally managed, closed-end, non-diversified management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940. The Company's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments by targeting investment opportunities with favorable risk-adjusted returns. The Company seeks to invest primarily in middle-market companies that have annual revenues of at least $50 million and earnings before interest, taxes, depreciation, and amortization of at least $15 million. The Company's investment activities are managed by its investment adviser, CM Investment Partners LLC. To learn more about Investcorp Credit Management BDC, Inc., please visit Forward-Looking Statements Statements included in this press release and made on the earnings call for the quarter ended June 30, 2025, may contain 'forward-looking statements,' which relate to future performance, operating results, events and/or financial condition. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'will,' 'may,' 'continue,' 'believes,' 'seeks,' 'estimates,' 'would,' 'could,' 'should,' 'targets,' 'projects,' and variations of these words and similar expressions are intended to identify forward-looking statements. Any forward-looking statements, including statements other than statements of historical facts, included in this press release or made on the earnings call are based upon current expectations, are inherently uncertain, and involve a number of assumptions and substantial risks and uncertainties, many of which are difficult to predict and are generally beyond the Company's control. Investors are cautioned not to place undue reliance on these forward-looking statements. Any such statements are likely to be affected by other unknowable future events and conditions, which the Company may or may not have considered, including, without limitation, changes in base interest rates and the effects of significant market volatility on our business, our portfolio companies, our industry and the global economy. Accordingly, such statements cannot be guarantees or assurances of any aspect of future performance or events. Actual results may differ materially from those anticipated in any forward-looking statements as a result of a number of factors and risks. More information on these risks and other potential factors that could affect actual events and the Company's performance and financial results, including important factors that could cause actual results to differ materially from plans, estimates or expectations included herein or discussed on the earnings call, is or will be included in the Company's filings with the Securities and Exchange Commission, including in the 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations' sections of the Company's Transition Report on Form 10-KT and Quarterly Reports on Form 10-Q. All forward-looking statements speak only as of the date they are made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
Business Wire
11-08-2025
- Business
- Business Wire
Investcorp Credit Management BDC, Inc. Schedules Earnings Release for the Second Quarter Ended June 30, 2025
NEW YORK--(BUSINESS WIRE)--Investcorp Credit Management BDC, Inc. (NASDAQ:ICMB) ('ICMB' or 'Company') today announced that it will release its financial results for the second quarter ended June 30, 2025 on Tuesday, August 12, 2025, after the close of the financial markets. The Company will host an earnings conference call at 10:00 am (Eastern Time) on Wednesday, August 13, 2025 to review its financial results and conduct a question-and-answer session. All interested parties may participate in the conference call by dialing (800) 550-9893 5-10 minutes prior to the call; international callers should dial (858) 609-8959. Participants should enter 872058# as the passcode, then press 2 when prompted. For those who are not able to listen to the call, a replay will be available shortly after the call by visiting our website at About Investcorp Credit Management BDC, Inc. The Company is an externally-managed, closed-end, non-diversified management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940. The Company's primary investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation by investing in debt and related equity investments of privately held middle-market companies. The Company seeks to invest primarily in middle-market companies that have annual revenues of at least $50 million and earnings before interest, taxes, depreciation, and amortization of at least $15 million. The Company's investment activities are managed by its investment adviser, CM Investment Partners LLC. To learn more about Investcorp Credit Management BDC, Inc., please visit Forward-Looking Statements Statements included herein or on the conference call may contain "forward-looking statements," which relate to future performance or ICMB's financial condition, are based upon current expectations and are inherently uncertain. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of assumptions, risks and uncertainties and other factors, some of which are beyond the Company's control, including the impact of significant market volatility on the Company's business, its portfolio companies, its industry and the global economy. Actual results may differ materially from those anticipated in any forward-looking statements as a result of a number of factors, including those described from time to time in filings by the Company with the Securities and Exchange Commission. The Company undertakes no duty to update any forward-looking statement made herein, except as required by law. All forward-looking statements speak only as of the date of this press release.
Hindustan Times
09-06-2025
- Sport
- Hindustan Times
Highlights from the SOG Grandmasters Series: Rakesh Kumar's Zonal Victory
New Delhi, June 09, 2025 – Rakesh Kumar from Rishikesh has emerged as a rising star in India's skill-based gaming arena, gaining the prestigious title of Indian Rummy Grandmaster for the North & East Zone at the recently concluded SOG Grandmasters Series Championship. Held at the Hyatt Regency, Gurugram, the two-day tournament brought together some of India's finest minds, with over 1.5 lakh participants competing across rummy, chess, and chess for the blind. The Indian Rummy Grandmasters (IRG) event alone witnessed a turnout of 78,000 participants. After intense rounds and competitive gameplay, 150 finalists battled it out in the finals, culminating in Kumar's strategic victory. The tournament celebrated not only individual brilliance but also the growing recognition of mind sports in India's digital and youth-driven ecosystem. Organised by the Skillhub Online Games Federation (SOGF), the championship featured three major competitions: IRG, Indian Chess Masters (ICM), and Indian Chess Masters for Blind (ICMB). The ICM saw 3,500 participants, while the ICMB — conducted in partnership with the All India Chess Federation for the Blind — demonstrated the resilience and talent of visually impaired players, with 16 finalists selected from across India. The inclusive and vibrant event concluded with entertainment performances and award ceremonies, with dignitaries such as Gaurav Dhyanchand, Tournament Director and President of the Dhyanchand Foundation, and D.P. Raturi, former Air Force officer and hockey player, in attendance. The grand finale also featured participation from notable personalities including Sports Minister of Haryana Mr. Gaurav Gautam, Secretary of Sports Ms. Sujata Chaturvedi, legendary cricketer Kapil Dev, Chess Grandmaster Koneru Humpy, wrestler Ravi Kumar Dahiya, boxer-politician Vijender Singh, and several leaders from the SOG Federation. 'At SOGF, we are committed to building a future where mind sports are given the same recognition as traditional sports,' said Adv. Nandan Jha, Founder of SOGF. 'Rakesh Kumar's win is not just an individual achievement but a testament to the growing talent pool in India's skill-based gaming community. We are proud to create a platform that celebrates intellect, strategy, and digital excellence.' Founded by Adv. Nandan Jha, SOGF is a first-of-its-kind body aligning with international sports guidelines and India's digital growth vision. With support from tech platform partner Rummy Culture, the federation's unique 'phygital' format—combining physical tournaments with digital access—continues to democratize access to competitive gaming across regions. As India's sports industry gears up for a projected $130 billion valuation by 2030, milestones like these underline the potential of mind sports in shaping the future of competitive skill-based gaming in the country. Note to readers: This article is part of HT's paid consumer connect initiative and is independently created by the brand. HT assumes no editorial responsibility for the content, including its accuracy, completeness, or any errors or omissions. Readers are advised to verify all information independently. Want to get your story featured as above? click here!
