MidCap Financial Investment Corp rebrands, cuts fees, reports 2022 NII of $1.57/share

MidCap Financial Investment Corp

Rebranded from Apollo Investment Corp (AINV) to MFIC in Aug 2022; MidCap Financial made $30M equity investment at NAV, now owning 3.0%.
Base management fee permanently cut to 1.75% on net assets (approx 50% reduction); incentive fee reduced from 20% to 17.5%.
Leadership: Howard Widra Executive Chairman, Tanner Powell CEO, Ted McNulty President, Kristin Hester Chief Legal Officer.
2022 total investment income $230.4M; net investment income $101.0M ($1.57/share); NAV per share $15.10; distributions $1.41/share.
Total stock return 0.3% in 2022, outperforming S&P 500 (-18.1%) and NASDAQ (-32.5%).

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