Silver Spike Investment Corp. (NASDAQ:SSIC), a Maryland-based investment company, announced the re-election of two board members during its annual stockholders meeting held on Tuesday. The company, which filed a Form 8-K with the U.S. Securities and Exchange Commission, reported the results of the voting process that took place on June 26, 2024.
Stockholders voted to re-elect Scott Gordon and Michael W. Chorske to serve on the company's board of directors until the 2027 annual meeting. The election results indicated a strong show of support for the directors, with Scott Gordon receiving 5,038,763 votes for and 28,276 votes withheld. Michael W. Chorske garnered 4,878,642 votes for and 188,397 votes withheld. There were no broker non-votes reported.
The definitive proxy statement, which included details about the matters voted upon, was filed with the SEC on April 26, 2024. As of April 24, 2024, the record date for determining stockholders entitled to vote, there were 6,214,949 shares of Silver Spike Investment Corp.'s common stock outstanding.
The annual meeting's proceedings and the subsequent filing ensure that Silver Spike Investment Corp. maintains compliance with SEC regulations and transparency with its investors. The re-elected directors are set to continue their roles in guiding the company's strategic direction and oversight.
InvestingPro Insights
As Silver Spike Investment Corp. (NASDAQ:SSIC) continues to align its leadership team for strategic growth, a glance at real-time data from InvestingPro provides further context into the company's financial health and market performance. The company's market capitalization stands at a modest $72.65 million, and it boasts an attractive P/E ratio of 9.6 for the last twelve months as of Q1 2024, suggesting a potentially undervalued stock relative to near-term earnings growth. Additionally, Silver Spike Investment Corp. offers a considerable dividend yield of 8.45%, a compelling factor for income-focused investors.
InvestingPro Tips highlight that the company has shown a strong return over the last year, with a 77.84% price total return, and a significant price uptick over the last six months at 48.36%. These figures indicate robust market confidence and momentum in the company's stock. Moreover, the company's liquid assets exceed its short-term obligations, which could be reassuring for investors concerned about financial stability.
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