Silver Spike Investment Corp.

Good afternoon. My name is Bobby, and I will be your conference operator today. At this time, I would like to welcome everyone to Silver Spike Investment Corp's first quarter fiscal 2023 earnings conference call. Our hosts for today's call are Greg Gentile, Chief Financial Officer, Chief Compliance Officer and Secretary, Frank Cotson, Head of Credit at Silver Spike Capital LLC, the company's investment advisor, and Bill Healy, Head of Capital Formation at Silver Spike Capital. Scott Gordon, CEO, and the investment team from Silver Spike Capital are also present. Today's call is being recorded and will be made available for replay at 6 p.m. Eastern Time. Details can be found on the press release. A replay of the call will also be available on the SSIC website. At this time, all participants have been placed in a listen-only mode, and the floor will open for your questions following the presentation. You may register to ask a question at any time by pressing star and one on your touchtone phone. You may withdraw yourself from the queue by pressing star two. It is now my pleasure to turn the conference over to Bill Healy.

Thank you, operator, and welcome everyone to Silver Spike Investment Corps, or I'll refer to them as SSIC, or Earnings Conference Call for the First Quarter of Fiscal 2023. SSIC's first quarter fiscal 2023 financial results were released last Friday and can be accessed from the website at SSIC.SilverSpikeCap.com. Before we begin, I would like to remind everyone that certain statements that are not based on historical facts made during this call, including any statements relating to financial guidance, may be deemed forward-looking statements under federal securities laws. Because these forward-looking statements involve known and unknown risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. We encourage you to refer to our most recent SEC filings for information on some of these risk factors. Silver spike. assumes no obligation or responsibility to update any forward-looking statements. So please note that the information reported on this call speaks only as of today, August 18, 2022. Therefore, you are advised that time-sensitive information may no longer be accurate at the time of any replay or transcript reading. Now allow me to introduce SSIC CFO Greg Gentile. Greg?

Thank you, Bill. I think what we'll do is just give a quick summary of quarterly results, and then I'll turn it over to Frank Cotsen, who will elaborate more on the activity for the quarter and our investment program. So for the previous quarter, we achieved total investment income of $809,591. This was comprised of two components, approximately $400,000 of interest income as well as $410,000 of fee-based income related to loans closed during the quarter. Our total expenses were approximately $588,000, of which $222,000 were ordinary course legal expenses. But this being our first quarter really up and running, we expect this to be materially lower in future quarters. A lot of those legal expenses related to startup issues and general ramping up of things like compliance programs, policies and procedures, etc. This resulted in an increase in net assets of approximately $211,000, which translates to an increase in NAV from $13,000 spot 6-1 in the previous quarter to 13 spot 6-4 in the most recent quarter. Just to give you some color around the NAV number, as of the close of the quarter on June 30th, SSIC common stock was trading at 9 spot 78. So this equates to a discount of approximately 28.3% of NAV. So just to give you an overview, a little bit of history, we completed our IPO in February, which was a blind pool offering. So we launched essentially with a pool of cash. And we're very excited to have just begun our ramp-up period and having just made two investments this quarter, which Frank will elaborate upon shortly. So it's very important to note that our first loan position was entered into on May 26th, which was more than halfway through the quarter. So while only on the books for approximately 36 days, the interest income from this position alone was able to overcome expenses and surpass break-even from an operational standpoint. Our second loan position was entered into the last day of the quarter, June 30th, and thus did not materially affect results. So with almost 30% invested as of June 30th, we expect this full coming quarter of interest income to easily surpass this prior quarter's results. And with that, I'll turn it over to Frank for color on the portfolio.