PhenixFIN Corp

Listed Company

PFXNZCIK 0001490349NasdaqNon-AcceleratedDelawareFY ends Sep 30

Period

FY 2025

Revenue

—

Net Income

$4.16M

Total Assets

$316.91M

Equity

$160.77M

Shares Out

2.00M

Op. Cash Flow

$-67.33M

Business

PhenixFIN Corp is an internally managed, non‑diversified closed‑end management investment company that elected to be regulated as a business development company (BDC) and pursues an investment strategy of lending to and making private equity investments in predominantly privately held companies. It offers debt and equity investments including senior secured first and second lien term loans, unitranche loans, subordinated notes, preferred and common equity, warrants and other equity participation features, and operates asset‑based lending and insurance businesses through affiliates. The company’s key business areas comprise its investment operations, an asset‑based lending affiliate (FlexFIN), an insurance affiliate (NSG), and other operating affiliates such as a restaurant concept. It sources and distributes investments primarily within the United States through direct sponsor and intermediary relationships, financial intermediaries, and private transaction channels.

Summary from filing dated 2025-12-12

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Total interest income	17	14	12	9	—
Total dividend income	7	7	7	6	—
Interest from cash and cash equivalents	194,954	500,079	400,031	139,942	10,402
Fee income (see Note 9)	1	500,000	300,000	420,000	3
Other income	—	22	402,138	323,828	78,204
Total Investment Income	25	22	20	16	32
Interest and financing expenses	10	7	6	5	6
Salaries and benefits	5	7	4	3	2
Professional fees, net	2	1	1	1	559,975
General and administrative expenses	1	1	983,274	1	1
Directors fees	816,000	750,000	728,833	700,000	1
Administrator expenses (see Note 6)	404,941	301,931	320,310	—	—
Insurance expenses	338,013	378,854	466,319	590,178	2
Total expenses	20	17	14	12	14
Net Investment Income	5	5	7	3	19
Total net realized gains (losses)	−12	7	−12	5	—
Total net change in unrealized gains (losses)	11	6	32	−14	—
Deferred tax benefit (expense)	210,210	887,099	—	—	—
Total realized and unrealized gains (losses)	−984,806	14	20	—	—
Net Increase (Decrease) in Net Assets Resulting from Operations	4	19	27	−6	—
Weighted average basic earnings per common share (in Dollars per share)	2.06	9.13	12.87	−2.63	—
Weighted average diluted earnings per common share (in Dollars per share)	2.06	9.13	12.87	−2.63	—
Weighted average common shares outstanding - basic (in Shares)	2	2	2	2	3
Weighted average common shares outstanding - diluted (in Shares)	2	2	2	2	3

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Total Investments at fair value	302	228	226	193	—
Cash and cash equivalents	7	68	6	23	69
Interest receivable	1	1	971,115	727,576	—
Other receivable	44,971	65,838	—	—	—
Dividends receivable	42,950	23,468	161,479	269,330	—
Other assets	3	1	833,000	—	—
Deferred tax asset, net	1	887,099	—	—	—
Deferred financing costs	1	760,680	699,124	50,000	—
Due from Affiliate	572,331	90,500	409,214	271,962	—
Prepaid share repurchase	96,342	101,115	199,019	489,156	—
Receivable for investments sold	21,549	3	4	—	—
Total Assets	317	303	240	219	—
Credit facility and notes payable (net of debt issuance costs of $1,141,393 and $1,510,815, respectively)	148	136	84	—	—
Accounts payable and accrued expenses	4	6	3	2	—
Other liabilities	2	294,063	432,698	572,949	—
Interest and fees payable	1	768,043	690,398	503,125	—
Taxes payable	137,538	—	—	—	—
Due to Affiliate	132,365	88,148	—	—	—
Total Liabilities	156	142	93	98	—
Commitments and Contingencies (see Note 8)	—	—	—	—	—
Common Shares, $0.001 par value; 5,000,000 shares authorized; 2,723,709 shares issued; 2,003,769 and 2,019,778 common shares outstanding, respectively	2,004	2,020	2,074	2,102	—
Capital in excess of par value	705	705	695	675	—
Total distributable earnings (loss)	−544	−545	−548	−555	—
Total Net Assets	161	160	147	121	144
Total Liabilities and Net Assets	317	303	240	219	—
Net Asset Value Per Common Share (in Dollars per share)	80.24	79.37	70.75	57.49	57.08

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Proceeds from sale and settlements of investments	100	112	67	124	124
Purchases, originations and participations	−174	−99	−77	−173	−45
Investment increases due to payment-in-kind interest	−1	−1	−2	−819,722	−937,768
Net amortization of premium (discount) on investments	−622,798	−388,667	−2	−219,513	−44,455
Amortization of debt issuance cost	369,422	347,908	370,329	368,471	363,812
Amortization of deferred financing cost	559,419	565,619	286,597	—	—
Net realized (gains) losses from investments	12	−7	12	—	—
Interest receivable	110,194	−342,483	−243,539	−356,000	252,948
Paydown receivable	—	—	112,500	179,515	−292,015
Other receivable	20,867	−34,413	5,567	−36,992	—
Dividends receivable	−19,482	138,011	107,851	−188,119	−81,211
Due from affiliate	−481,831	318,714	−137,252	−271,962	—
Other assets	−2	−233,323	359,677	—	—
Prepaid share repurchase	4,773	97,904	290,137	—	—
Receivable for investments sold	3	984,400	−4	—	—
Provision for deferred taxes on unrealized appreciation/(depreciation) on investments	−347,748	−887,099	—	—	—
Taxes payable	137,538	—	—	—	—
Accounts payable and accrued expenses	−1	3	1	623,753	−691,701
Interest and fees payable	419,531	77,645	187,273	503,125	−801,805
Other liabilities	2	−138,635	−140,251	—	—
Deferred revenue	—	−421,685	96,083	—	—
Due to Affiliate	44,217	88,148	—	−280,323	227,240
Payable for investments purchased	—	−4	−12	15	2
Administrator expenses payable	—	—	−74,911	6,991	−89,045
Net cash provided by (used in) operating activities	−67	16	−21	−29	95
Debt issuance	55	76	36	58	—
Paydowns on debt	−44	−25	−31	−55	−74
Debt issuance costs paid	—	−169,888	—	−2	—
Deferred financing costs	−1	−627,175	−935,721	—	—
Distributions paid to shareholders	−3	−3	—	−265,798	—
Repurchase of common shares	−800,705	−2	−1	−17	−8
Net cash provided by (used in) financing activities	7	45	4	−17	−82
Net increase (decrease) in cash and cash equivalents	−60	62	−17	−47	13
Interest paid during the period	9	6	5	4	7
Non-cash purchase of investments	13	46	—	—	—
Non-cash sale of investments	13	46	—	—	—

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