Silver Spike Investment Corp., a specialty finance company, focuses on investing across the cannabis ecosystem through investments in the form of direct loans to, and equity ownership of, privately held cannabis companies. It intends to partner with private equity firms, entrepreneurs, business owners, and management teams to provide credit and equity financing alternatives to support buyouts, recapitalizations, growth initiatives, refinancings, and acquisitions across cannabis companies, including cannabis-enabling technology companies, cannabis-related health and wellness companies, and hemp and CBD distribution companies. The company was founded in 2021 and is based in New York, New York.
IPO Year: 2022
Exchange: NASDAQ
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 3/1/2022 | $14.00 | Hold | Stifel |
| 3/1/2022 | $17.00 | Overweight | Piper Sandler |
| 3/1/2022 | Hold | Stifel |
NEW YORK, Oct. 01, 2024 (GLOBE NEWSWIRE) -- Silver Spike Investment Corp. ("SSIC" or the "Company") (NASDAQ:SSIC), a specialty finance company that has elected to be regulated as a business development company, today announced the completion of its previously announced acquisition from Chicago Atlantic Loan Portfolio, LLC ("CALP") of a portfolio of loans (the "CALP Loan Portfolio") in exchange for newly issued shares of the Company's common stock (the "Loan Portfolio Acquisition"). As a result of the Loan Portfolio Acquisition, the Company has net assets of approximately $300 million and investments in 28 portfolio companies. In connection with the Loan Portfolio Acquisition, the Company
NEW YORK, Sept. 23, 2024 (GLOBE NEWSWIRE) -- Silver Spike Investment Corp. ("SSIC" or the "Company") (NASDAQ:SSIC), a specialty finance company that has elected to be regulated as a business development company, today announced that the stockholders of the Company have voted at the Company's special meeting of stockholders held today (the "Special Meeting") to approve the proposal related to the Company's acquisition from Chicago Atlantic Loan Portfolio, LLC ("CALP") of a portfolio of loans (the "CALP Loan Portfolio") in exchange for newly-issued shares of SSIC's common stock (the "Loan Portfolio Acquisition"). At the Special Meeting, the stockholders of the Company also voted to approve:
NEW YORK, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Silver Spike Investment Corp. ("SSIC" or the "Company") (NASDAQ:SSIC), a specialty finance company that has elected to be regulated as a business development company, today announced its financial results for the second quarter ended June 30, 2024. Quarter Ended 6/30/24 Highlights Total investment income of $3.1 millionNet investment income of $1.5 million, or $0.25 per shareInvestment portfolio of $53.4 million at fair valueNet asset value ("NAV") per share decreased from $13.60 on March 31, 2024 to $13.56 on June 30, 2024A cash dividend of $0.25 per share was declared. The dividend is payable on September 27, 2024 to stockholders of record on
NEW YORK, July 24, 2024 (GLOBE NEWSWIRE) -- Silver Spike Investment Corp. ("SSIC" or the "Company") (NASDAQ:SSIC), a specialty finance company that has elected to be regulated as a business development company, today announced it will report financial results for its second quarter ended June 30, 2024, before market open on Friday, August 9, 2024. SSIC will host a conference call and webcast to discuss the Company's financial results at 8:00 a.m. Eastern Time on Friday, August 9, 2024. Participants may register for the call here. A live webcast of the call will also be available on the SSIC website at ssic.silverspikecap.com. A replay of the call will be available at ssic.silverspi
NEW YORK, May 09, 2024 (GLOBE NEWSWIRE) -- Silver Spike Investment Corp. ("SSIC" or the "Company") (NASDAQ:SSIC), a specialty finance company that has elected to be regulated as a business development company, today announced its financial results for the first quarter ended March 31, 2024. Quarter Ended 3/31/24 Highlights Total investment income of $2.8 millionNet investment income (loss) of $(0.1) million, or $(0.01) per shareInvestment portfolio of $54.8 million at fair valueNet asset value ("NAV") per share decreased from $13.77 on December 31, 2023 to $13.60 on March 31, 2024A cash dividend of $0.25 per share was declared. The dividend is payable on June 28, 2024 to stockholders of
NEW YORK, April 25, 2024 (GLOBE NEWSWIRE) -- Silver Spike Investment Corp. ("SSIC" or the "Company") (NASDAQ:SSIC), a specialty finance company that has elected to be regulated as a business development company, today announced it will report financial results for its first quarter ended March 31, 2024, before market open on Friday, May 10, 2024. SSIC will host a conference call and webcast to discuss the Company's financial results at 8:00 a.m. Eastern Time on Friday, May 10, 2024. Participants may register for the call here. A live webcast of the call will also be available on the SSIC website at ssic.silverspikecap.com. A replay of the call will be available at ssic.silverspikecap.com
NEW YORK, March 14, 2024 (GLOBE NEWSWIRE) -- Silver Spike Investment Corp. ("SSIC" or the "Company") (NASDAQ:SSIC), a specialty finance company that has elected to be regulated as a business development company, today announced it will report financial results for its fiscal year ended December 31, 2023, before market open on Thursday, March 28, 2024. SSIC will host a conference call and webcast to discuss the Company's financial results at 8:00 a.m. Eastern Time on Thursday, March 28, 2024. Participants may register for the call here. A live webcast of the call will also be available on the SSIC website at ssic.silverspikecap.com. A replay of the call will be available at ssic.silverspi
NEW YORK, March 08, 2024 (GLOBE NEWSWIRE) -- Silver Spike Investment Corp. ("Silver Spike" or the "Company") (NASDAQ:SSIC), a specialty finance company that has elected to be treated as a business development company, today announced that Silver Spike's board of directors has declared a cash dividend of $0.25 per share for the quarter ending March 31, 2024. The following are the key dates for the dividend: Record DateMarch 20, 2024Payment DateMarch 28, 2024 The Company has adopted a dividend reinvestment plan ("DRIP") that provides for reinvestment of dividends on behalf of its stockholders, unless a stockholder elects to receive cash. As a result, when the Company declares a cash dividen
Chicago Atlantic BDC Holdings, LLC and its affiliates (Chicago Atlantic) today entered into a definitive agreement with Silver Spike Capital, LLC (SSC), the investment adviser of Silver Spike Investment Corp (NASDAQ:SSIC), pursuant to which a joint venture between Chicago Atlantic and SSC would be created to combine and jointly operate SSC's and a portion of Chicago Atlantic's investment management businesses, subject to certain SSIC stockholder approvals and customary closing conditions (the "Joint Venture"). Upon closing of the Joint Venture, SSIC would be renamed Chicago Atlantic BDC, Inc. and SSC would be renamed Chicago Atlantic BDC Advisers, LLC. The transaction follows the initia
NEW YORK, Feb. 20, 2024 (GLOBE NEWSWIRE) -- Silver Spike Investment Corp. ("Silver Spike" or the "Company") (NASDAQ:SSIC), a specialty finance company that has elected to be treated as a business development company, today announced that the board of directors of Silver Spike has unanimously approved an expansion of Silver Spike's investment strategy to permit investments in companies outside of the cannabis and health and wellness sectors that otherwise meet the Company's current investment criteria. While the cannabis sector will continue to be a focus of Silver Spike's investment efforts, Silver Spike believes that the broadened investment strategy will benefit Silver Spike and its sto
NEW YORK, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Silver Spike Investment Corp. ("SSIC" or the "Company") (NASDAQ:SSIC), a specialty finance company that has elected to be regulated as a business development company, today announced its financial results for the second quarter ended June 30, 2024. Quarter Ended 6/30/24 Highlights Total investment income of $3.1 millionNet investment income of $1.5 million, or $0.25 per shareInvestment portfolio of $53.4 million at fair valueNet asset value ("NAV") per share decreased from $13.60 on March 31, 2024 to $13.56 on June 30, 2024A cash dividend of $0.25 per share was declared. The dividend is payable on September 27, 2024 to stockholders of record on
NEW YORK, July 24, 2024 (GLOBE NEWSWIRE) -- Silver Spike Investment Corp. ("SSIC" or the "Company") (NASDAQ:SSIC), a specialty finance company that has elected to be regulated as a business development company, today announced it will report financial results for its second quarter ended June 30, 2024, before market open on Friday, August 9, 2024. SSIC will host a conference call and webcast to discuss the Company's financial results at 8:00 a.m. Eastern Time on Friday, August 9, 2024. Participants may register for the call here. A live webcast of the call will also be available on the SSIC website at ssic.silverspikecap.com. A replay of the call will be available at ssic.silverspi
NEW YORK, May 09, 2024 (GLOBE NEWSWIRE) -- Silver Spike Investment Corp. ("SSIC" or the "Company") (NASDAQ:SSIC), a specialty finance company that has elected to be regulated as a business development company, today announced its financial results for the first quarter ended March 31, 2024. Quarter Ended 3/31/24 Highlights Total investment income of $2.8 millionNet investment income (loss) of $(0.1) million, or $(0.01) per shareInvestment portfolio of $54.8 million at fair valueNet asset value ("NAV") per share decreased from $13.77 on December 31, 2023 to $13.60 on March 31, 2024A cash dividend of $0.25 per share was declared. The dividend is payable on June 28, 2024 to stockholders of
NEW YORK, April 25, 2024 (GLOBE NEWSWIRE) -- Silver Spike Investment Corp. ("SSIC" or the "Company") (NASDAQ:SSIC), a specialty finance company that has elected to be regulated as a business development company, today announced it will report financial results for its first quarter ended March 31, 2024, before market open on Friday, May 10, 2024. SSIC will host a conference call and webcast to discuss the Company's financial results at 8:00 a.m. Eastern Time on Friday, May 10, 2024. Participants may register for the call here. A live webcast of the call will also be available on the SSIC website at ssic.silverspikecap.com. A replay of the call will be available at ssic.silverspikecap.com
NEW YORK, March 14, 2024 (GLOBE NEWSWIRE) -- Silver Spike Investment Corp. ("SSIC" or the "Company") (NASDAQ:SSIC), a specialty finance company that has elected to be regulated as a business development company, today announced it will report financial results for its fiscal year ended December 31, 2023, before market open on Thursday, March 28, 2024. SSIC will host a conference call and webcast to discuss the Company's financial results at 8:00 a.m. Eastern Time on Thursday, March 28, 2024. Participants may register for the call here. A live webcast of the call will also be available on the SSIC website at ssic.silverspikecap.com. A replay of the call will be available at ssic.silverspi
NEW YORK, March 08, 2024 (GLOBE NEWSWIRE) -- Silver Spike Investment Corp. ("Silver Spike" or the "Company") (NASDAQ:SSIC), a specialty finance company that has elected to be treated as a business development company, today announced that Silver Spike's board of directors has declared a cash dividend of $0.25 per share for the quarter ending March 31, 2024. The following are the key dates for the dividend: Record DateMarch 20, 2024Payment DateMarch 28, 2024 The Company has adopted a dividend reinvestment plan ("DRIP") that provides for reinvestment of dividends on behalf of its stockholders, unless a stockholder elects to receive cash. As a result, when the Company declares a cash dividen
NEW YORK, Feb. 20, 2024 (GLOBE NEWSWIRE) -- Silver Spike Investment Corp. (the "Company") (NASDAQ:SSIC), a specialty finance company that has elected to be treated as a business development company, today announced that it entered into a definitive agreement with Chicago Atlantic Loan Portfolio, LLC ("CALP") for the purchase (the "Loan Portfolio Acquisition") from CALP of a sizeable portfolio of loans (the "CALP Loan Portfolio"). The Company will acquire the CALP Loan Portfolio in exchange for newly issued shares of the Company's common stock with a net asset value equal to the value of the CALP Loan Portfolio, each determined shortly before closing. The Loan Portfolio Acquisition is consi
NEW YORK, Oct. 25, 2023 (GLOBE NEWSWIRE) -- Silver Spike Investment Corp. ("SSIC" or the "Company"), a specialty finance company that was formed to invest across the cannabis ecosystem through investments primarily in the form of direct loans to privately held cannabis companies, today announced it will report financial results for its third quarter ended September 30, 2023, before market open on Friday, November 10, 2023. SSIC will host a conference call and webcast to discuss the Company's financial results at 8:00 a.m. Eastern Time on Friday, November 10, 2023. Participants may register for the call here. A live webcast of the call will also be available on the SSIC website at ssic.sil
NEW YORK, Sept. 05, 2023 (GLOBE NEWSWIRE) -- Silver Spike Investment Corp. ("Silver Spike" or the "Company"), a specialty finance company that was formed to invest across the cannabis ecosystem through investments primarily in the form of direct loans to privately held cannabis companies, today reminded investors that the Company's Board of Directors declared a cash dividend of $0.63 per share, consisting of a regular quarterly dividend of $0.23 per share and a special dividend of $0.40 per share. The following are the key dates for the regular and special dividend: Record DateSeptember 15, 2023Payment DateSeptember 29, 2023 The special dividend will be paid out of the Company's und
NEW YORK, July 25, 2023 (GLOBE NEWSWIRE) -- Silver Spike Investment Corp. ("SSIC" or the "Company"), a specialty finance company that was formed to invest across the cannabis ecosystem through investments primarily in the form of direct loans to privately held cannabis companies, today announced it will report financial results for its second quarter ended June 30, 2023, before market open on Friday, August 11, 2023. SSIC will host a conference call and webcast to discuss the Company's financial results at 8:00 a.m. Eastern Time on Friday, August 11, 2023. Participants may register for the call here. A live webcast of the call will also be available on the SSIC website at ssic.silverspike
Stifel initiated coverage of Silver Spike Investment Corp. with a rating of Hold and set a new price target of $14.00
Piper Sandler initiated coverage of Silver Spike Investment Corp. with a rating of Overweight and set a new price target of $17.00
Stifel initiated coverage of Silver Spike Inv with a rating of Hold
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Silver Spike Investment (NASDAQ:SSIC) reported quarterly losses of $(0.01) per share. This is a 104.55 percent decrease over earnings of $0.22 per share from the same period last year. The company reported $2.76 million in sales this quarter. This is a 12.30 percent increase over sales of $2.46 million the same period last year.
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Silver Spike Investment Corp. (NASDAQ:SSIC), a cannabis-focused specialty finance company, announced Wednesday its financial results for the year ending December 31, 2023. Quarter Ended 12/31/2023 Financial Highlights Net investment income of $1.7 million, or $0.28 per share compared to $1.6 million, $0.26 per share in the previous quarter. Investment portfolio of $54.1 million at fair value, which compares to $57.4 million at fair value in the third quarter. Net asset value ("NAV") per share decreased from $14.06 on September 30, 2023 to $13.77 on December 31, 2023. A cash dividend of $0.25 per share was declared. The dividend is payable on March 28, 2024 to stockholders of
Silver Spike Investment (NASDAQ:SSIC) reported quarterly earnings of $0.28 per share which beat the analyst consensus estimate of $0.27 by 3.7 percent. This is a 21.74 percent increase over earnings of $0.23 per share from the same period last year. The company reported quarterly sales of $3.60 million which beat the analyst consensus estimate of $3.37 million by 6.82 percent. This is a 80.00 percent increase over sales of $2.00 million the same period last year.
Silver Spike Investment (NASDAQ:SSIC) reported quarterly earnings of $0.28 per share which beat the analyst consensus estimate of $0.27 by 3.7 percent. This is a 21.74 percent increase over earnings of $0.23 per share from the same period last year.
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