Prospect Floating Rate & Alternative Income Fund Inc.
10/29/2024 | Press release | Distributed by Public on 10/29/2024 15:13
Material Event Form 8 K
Item 8.01. Other Events.
Net Asset Value
The net asset value ("NAV") per share of each class of shares of Prospect Floating Rate and Alternative Income Fund, Inc. (the "Company") as of September 30, 2024, as determined in accordance with the Company's valuation policy, is set forth below.
|
Record Date
|
NAV as of September 30, 2024
|
|
Class I
|
$4.65
|
|
Class S
|
$4.65
|
|
Class D
|
$4.65
|
As of September 30, 2024, the Company's aggregate NAV was approximately $41.1 million, the fair value of its portfolio investments was approximately $84.2 million, and it had approximately $39.6 million of debt outstanding.
Portfolio and Business Commentary
As of September 30, 2024, the Company had investments in 48 portfolio companies with total fair value of approximately $84.2 million. As of September 30, 2024, 100% of the debt investments and structured subordinated notes at fair value in the Fund's portfolio were variable rate. As of September 30, 2024, based on fair value, the Company's portfolio investments consisted of the following:
| As of September 30, 2024 | ||
| Senior Secured Loans-First Lien | 93.9 | % |
| Structured subordinated notes | 3.0 | % |
| Senior Secured Loans-Second Lien | 1.9 | % |
| Equity/Other | 1.1 | % |
| Preferred Stock | 0.1 | % |
| 100.0 | % |
Select Recent Transaction Highlights
In August 2024, the Company invested $4.3 million in the SOFR+5.25% first lien term loan to PlayPower, Inc.
In September 2024, the Company invested $5.0 million in the SOFR+7.50% first lien term loan to Druid City Infusion, LLC.