On Thursday, Silver Spike Investment Corp. SSICa specialized financial company announced its financial results for the quarter ended September 30, 2022. Silver Spike was formed to invest across the cannabis ecosystem through investments in direct loans and equity investments in privately held cannabis companies.

Highlights of the second quarter of 2023

• Total investment income of $1.2 million
• Net investment income of $0.6 million, or $0.09 per share
• The investment portfolio of $24.5 million at fair value
• Net asset value per share increased from $13.64 on June 30, 2022 to $13.73 on September 30, 2022

operating results

For the three months ended September 30, 2022, total investment income was $1.2 million. This compares to total expenses of $0.6 million, resulting in a net investment return of approximately $0.6 million, or $0.09 per share.

Silver Spike recorded just over $0.0 million in unrealized net income for the second quarter, primarily related to the fair valuation of our debt investments.

The company too generated a net increase in net assets from operations of $0.6 million, or $0.09 per share.

net asset value (NAV): As of September 30, 2022, NAV per share increased to $13.73 compared to $13.64 as of June 30, 2022. “The increase in NAV per share was primarily due to operating income.” Also, “Total net assets at the end of $85.3 million in the second quarter compared to $84.8 million at the end of the first quarter,”

Portfolio and investment activity: As of September 30, 2022, Silver Spike’s investment portfolio had a total fair value of approximately $24.5 million, which included $24.5 million in secured loans in 2 portfolio companies.

The company did not make any investments in the second quarter.

At the end of the second quarter there were no accrued loans.

Liquidity and Capitalization: As of September 30, 2022, the Company had $61.1 million in available cash consisting of…