Item 2.02. Results of Operations and Financial Condition.
Preliminary Estimates of Results as of
On
• GAAP net asset value per share is estimated to be between$11.25 and$11.33 per share as ofDecember 31, 2022 . This compares to a GAAP net asset value per share of$11.62 as ofSeptember 30, 2022 . • Adjusted net asset value per share is estimated to be between$11.17 and$11.25 per share as ofDecember 31, 2022 . This compares to adjusted net asset value per share of$11.59 as ofSeptember 30, 2022 . Adjusted net asset value per share is a non-GAAP financial measure. The Company believes that this number provides useful information to investors and management because it reflects the Company's financial performance, excluding the impact of the$3.9 million , or$0.09 per share, and$1.5 million , or$0.03 per share, unrealized loss on the Company's multi-currency senior secured revolving credit facility, as amended and restated, withTruist Bank (formerlySunTrust Bank ) and other lenders, or the Credit Facility, and the Company's 4.3% Series A notes due 2023, or the 2023 Notes, as ofDecember 31, 2022 andSeptember 30, 2022 , respectively. The presentation of this additional information is not meant to be considered in isolation or as a substitute for financial results prepared in accordance with GAAP. • Net investment income is estimated to be between$0.29 and$0.31 per share for the quarter endedDecember 31, 2022 . This compares to net investment income of$0.29 per share for the quarter endedSeptember 30, 2022 . • Three loans were on non-accrual status as ofDecember 31, 2022 . • As ofDecember 31, 2022 , at cost, the Company had approximately$199.7 million of borrowings outstanding under the Credit Facility, approximately$76.2 million in aggregate principal amount of 2023 Notes outstanding,$185.0 million in aggregate principal amount of 4.25% Notes due 2026 outstanding and$228.0 million in aggregate principal amount of asset-backed debt consisting of various notes due in 2031. • As ofDecember 31, 2022 , the Company had approximately$52.9 million in cash and cash equivalents.
These estimates are subject to the completion of the Company's financial closing
procedures and are not a comprehensive statement of the Company's financial
position, results of operations or cash flows for the quarter ended
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The preliminary financial estimates provided herein have been prepared by, and
are the responsibility of the Company's management.
The information disclosed under this Item 2.02 is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") or otherwise subject to the liabilities of such Section and shall not be deemed incorporated by reference into any filing made under the Securities Act of 1933, as amended (the "Securities Act") or the Exchange Act, except as expressly set forth by specific reference in such filing.
Item 7.01. Regulation FD Disclosure.
On
The information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1 furnished herewith, is being furnished and shall not be deemed "filed" for any purpose of Section 18 of the Exchange Act is or otherwise subject to the liabilities of such Section. The information in this Current Report on Form 8-K, including Exhibit 99.1 furnished herewith, shall not be deemed to be incorporated by reference into any filing under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Forward-Looking Statements
This Current Report on Form 8-K, including Exhibit 99.1 furnished herewith, may
contain "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. All statements other than statements
of historical facts included in this Current Report on Form 8-K 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
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
99.1* Press Release ofPennantPark Floating Rate Capital Ltd. datedJanuary 23, 2023 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
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