Thu, Nov 7, 8:22 PM (36 days ago)
5C Lending Partners Corp. (Ticker: N/A), in its 10-Q report for the quarter ending September 30, 2024, reported total assets of $4,660,000, primarily consisting of cash and offering costs. The company has not yet commenced investment activities, resulting in no investment income for the period. Total expenses were $2,263,000 for the quarter, primarily driven by administrative and organizational costs, with significant waivers from the Advisor reducing net expenses to $6,000. The net asset value per common share decreased slightly to $24.92, reflecting a total return of -0.31%. The company raised $3,570,000 through the issuance of common and preferred stock, contributing to a cash balance of $3,448,000. Future operations may be impacted by economic conditions and the company's ability to source investment opportunities, as highlighted in their risk factors. The company has substantial capital commitments totaling $20,025,000, with $18,000,000 undrawn as of the report date. The Advisor continues to waive certain fees, which may not be sustainable long-term. Overall, the report indicates a focus on establishing operations while managing initial costs and preparing for future investments.