NAV Per Share Grew 22% In Last 12 MonthsExpanded Credit Facility To $62.5 Million NEW YORK, May 10, 2024 (GLOBE NEWSWIRE) --  PhenixFIN Corporation (NASDAQ:PFX, PFXNZ)) (the "Company"), a publicly traded business development company, today announced its financial results for the fiscal second quarter of 2024. Highlights Second quarter total investment income of $4.7 million; net investment income of $0.6 million Net asset value (NAV) of $154.3 million, or $76.35 per share as of March 31, 2024 Weighted average yield was 13.6% on debt and other income producing investments Repurchased 40,000 shares during the second fiscal quarter On February 21, 2024, the Credit Facility was amended to increase the principal amount available to $62.5 million. On May 9, 2024 the Board of Directors declared a special dividend of $1.31 per share. This dividend is payable on June 10, 2024 to stockholders of record as of May 27, 2024. David Lorber, Chief Executive Officer of the Company, stated: "We continue to be pleased with our progress in growing our NAV per share as various investments have generated favorable investment income and/or capital appreciation. We continue to pursue NAV per share growth over time. We are also excited for potential future investments that should provide additional growth opportunities. In addition, we are pleased to announce a special dividend of $1.31 per share for 2023 spillover income."   Selected Second Quarter 2024 Financial Results for the Quarter Ended March 31, 2024: Total investment income was $4.7 million which was attributable to portfolio interest and dividend income. Total expenses were $4.1 million and total net investment income was $0.6 million. The Company recorded total realized and unrealized gains of $4.8 million due to appreciation in various investments. Portfolio and Investment Activities for the Quarter Ended March 31, 2024: The fair value of the Company's investment portfolio totaled $220.0 million and consisted of 41 portfolio companies. Liquidity and Capital Resources At March 31, 2024, the Company had $19.1 million in cash and cash equivalents, $57.5 million in aggregate principal amount of its 5.25% unsecured notes due 2028 and $28.4 million outstanding under the Credit Facility. ABOUT PHENIXFIN CORPORATION PhenixFIN Corporation is a non-diversified, internally managed closed-end management investment company incorporated in Delaware that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. We completed our initial public offering and commenced operations on January 20, 2011. The Company has elected, and intends to qualify annually, to be treated, for U.S. federal income tax purposes, as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended. Effective January 1, 2021, the Company operates under an internalized management structure. SAFE HARBOR STATEMENT AND OTHER DISCLOSURES This press release contains "forward-looking" statements. Such forward-looking statements reflect current views with respect to future events and financial performance, and the Company may make related oral forward-looking statements on or following the date hereof. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements, including among other things, PhenixFIN's ability to deliver value to shareholders, make additional acquisitions that provide additional growth opportunities, increase investment activity, grow the Company, increase net investment income, reduce operating expenses, implement its investment objective, source and capitalize on investment opportunities, grow its net asset value (NAV) and NAV per share and perform well in the prevailing market environment, the ability of our portfolio companies to perform well and generate income and other factors that are enumerated in the Company's periodic filings with the Securities and Exchange Commission. PhenixFIN Corporation disclaims and does not undertake any obligation to update or revise any forward-looking statement in this press release. Past performance is not a guarantee of future results. The press release contains unaudited financial results. For ease of review, we have excluded the word "approximately" when rounding the results. This press release is for informational purposes only and is not an offer to purchase or a solicitation of an offer to sell shares of PhenixFIN Corporation's common stock. There can be no assurance that PhenixFIN Corporation will achieve its investment objective.  For PhenixFIN investor relations, please call 212-859-0390. For media inquiries, please PHENIXFIN CORPORATIONConsolidated Statements of Assets and Liabilities     March 31,2024(Unaudited)     September 30,2023   Assets:             Investments at fair value             Non-controlled, non-affiliated investments (amortized cost of $138,055,022 and $134,339,121 respectively)   $ 132,407,942     $ 125,531,031   Affiliated investments (amortized cost of $20,564,242 and $48,233,910, respectively)     14,333,867       37,289,617   Controlled investments (amortized cost of $90,793,284 and $82,437,692, respectively)     73,307,525       63,640,043   Total Investments at fair value     220,049,334       226,460,691   Cash and cash equivalents     19,123,796       5,988,223   Receivables:                 Interest receivable     920,769       971,115   Dividends receivable     243,302       161,479   Other receivable     -       31,425   Due from Affiliate     5,326,933       409,214   Other assets     1,173,608       833,000   Deferred financing costs     724,568       699,124   Prepaid share repurchase     132,295       199,019   Receivable for investments sold     -       3,940,175   Total Assets   $ 247,694,605     $ 239,693,465                     Liabilities:                 Credit facility and note payable (net of debt issuance costs of $1,522,586 and $1,688,835, respectively)   $ 84,419,355     $ 84,253,106   Payable for investments purchased     5,036,284       4,123,059   Accounts payable and accrued expenses     2,707,303       3,066,984   Interest and fees payable     724,564       690,398   Other liabilities     360,477       432,698   Due to Affiliate     99,725       -   Administrator expenses payable (see Note 6)     75,000       -   Deferred revenue     -       421,685   Total Liabilities     93,422,708