Stellus Capital Investment Corporation

Stellus Capital Investment Corporation (SCM) reported a net increase in net assets resulting from operations of $27.0 million for fiscal year 2025, driven by net investment income of $36.9 million. Total investment income was $102.1 million, primarily from interest income ($92.0 million), payment-in-kind interest income ($5.8 million), and other income ($4.4 million). Operating expenses totaled $68.6 million, with significant components including management fees ($17.2 million), interest expense and other fees ($34.9 million), and income incentive fees ($8.4 million), partially offset by an income incentive fee waiver of $3.3 million. The company's net asset value per share was $13, with total assets of $1.04 billion and net assets of $371.2 million. Cash flow from operations was negative $24.4 million, while financing activities provided $29.4 million, resulting in a net increase in cash of $5.0 million to $48.0 million at year-end.

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