CEF Advisors AICA Event NAVigator Podcast

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Silver Spike Investment Corp (SSIC)

BDC - Equity Focused BDC

Data as of Feb. 23, 2024
Market Price $10.05 (+ $0.50)
NAV (Sept. 30, 2023) $14.06 ( $0.00)
Fund Listed NASDAQ
Premium / Discount -28.52% (+3.56%)
Fund Info
Inception March 4, 2022
Sponsor Silver Spike Capital, LLC
Website https://ssic.silverspi...
Phone 212-905-4923
Location New York
Incorporated Maryland (Subject to the Maryland Act)
Staggered Board No
Term Date N/A
Objective: Current income from our debt investments and capital appreciation by investing primarily in secured debt, unsecured debt, equity warrants and direct equity investments in middle-market cannabis companies and health and wellness companies and may also invest in others.
Capital & Leverage
Outstanding Shares 6,214,705
Total Assets (Reported: Sept. 30, 2023) $89M
Estimated Total Assets $87M
Net Assets $87M
Market Cap $62M
Portfolio Turnover 3.90%
Debt-to-Equity 0.0000
Total Leverage 0.00%
Structural Leverage (out of total) %
Portfolio Leverage (out of total) %
Expense Ratio 5.88%
Non Lev Exp Ratio 5.88%
Gross Asset Expense Ratio 5.83%
Gross Asset Non Lev Exp Ratio 5.83%
Rel Lev Cost %
Discount Data
Average Discount (3 Yr) %
Discount Low(3 Yr) -47.20%
Discount High(3 Yr) -21.26%
Discount Rel Range (3 Yr) 58.31%
Comp Discount 15.65
Discount St Dev (1Yr) 4.83
Z-Stat (6mo) 0.83
Z-Stat (1Yr) 1.19
Z-Stat (3Yr)
Comp Z-Stat (6mo) -0.05
Comp Z-Stat (3Yr)
Distribution Data
Market Yield 9.95%
Income Yield 9.95%
Lev Adj NAV Yield 7.11%
Av Yield on Debt Investments 12.10
Distribution Frequency Q
Current Distribution $0.250
Current Income $0.250
Ex-Date 12/19/23
Payable Date 12/29/23
Div Growth (3yr) %
Dividend Change 8.7% on 11/9/23
Expected Div 2/9/24
RoC (1yr) 0.00%
RoC (3yr) 0.00%
Volume & Liquidity
Average Daily $ (K) $156
Avg Volume 30 day 14,658
Avg Volume 90 day 15,523
Volume Trend -5.57%
Comp Volume Trend -6.31%
Correlation & Volatility
Price St Dev (1Yr) 37.5%
NAV St Dev (1Yr) 4.3%
Earnings / Share (9/30/23) $0.260
Adj Core NII Coverage 103.75%
1 Yr Avg NII Coverage 108.14%
1 Yr Avg Adj Core NII Coverage 108.15%
NII Trend 25.76%
Adj Core NII Trend 14.81%
Price Beta (2yr)
vs. S&P 500 (TR)
Price Beta (2yr)
vs. CEFA's 12 Major CEF Sectors Index
Price Beta (2yr)
vs. CEFA's Debt-Focused Business Development Company (BDC) Index
Portfolio Data
Avg Libor Floor % 2.10%
% Loans with Libor Floor 86%


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NOTES: Distribution type sourced from CEFdata.com. For specific information about a fund's distribution sources, visit the fund sponsor's website.

The following information applies to closed-end funds and business development companies in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation (FDIC). Shares of closed-end funds (CEFs) and business development companies (BDCs) are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds and business development companies frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

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