- PennantPark Investment (NYSE:PNNT -2.4%) has erased a big chunk of a sizable move lower today after estimating Dec. 31 NAV of $10.40-$10.45 per share vs. the current price of $8.56.
- Q4 net investment income is expected at $0.25-$0.27 per share, and the company anticipates maintaining the quarterly $0.28 payout.
- Since quarter's end, one of PNNT's portfolio companies priced an IPO. Proceeds in Q1 should be about $60M, resulting in a realized gain of $0.13 per share, and a boost to NAV of $0.08. The company also expects about $0.04 of other income this quarter.
- With the stock price nearly 20% below NAV, the company says it has no intention of issuing shares.
- Source: Press Release