Neostellar Capital's Preliminary Q3 NAV Slips to $12.25–$12.75 from $13.44
NSLR is trading near its 52-week low of $7.04 (6.5% above the low).
Summary
Neostellar Capital disclosed preliminary Q3 2026 results showing NAV of $12.25–$12.75 per share, down from $13.44 at June 30, with realized losses on several portfolio exits and a new $20M Magnetar note.
Key Events · Earnings and Guidance · NSLR
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Preliminary Q3 NAV Declines
NAV estimated at $12.25–$12.75 per share as of September 30, 2026, down from $13.44 at June 30, 2026.
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Portfolio Exits Generate Losses
Realized losses of $5.6M on Learneo and $2.5M on Aventine, partially offset by gains of $1.4M on CW Opportunity 2 LP and $0.3M on GrabAGun.
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Magnetar Note Financing
Company received $20.0M gross proceeds on July 17, 2026 from a 6.50% redeemable promissory note due 2029, convertible to shares if $230M+ gross proceeds raised.
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Liquidity Position
Liquid assets of $42.2M as of September 30, 2026, consisting of cash and unrestricted public securities.
Analysis · NSLR · Unknown
A preliminary Q3 NAV estimate of $12.25–$12.75 per share marks a decline from the $13.44 reported at June 30, 2026, driven by realized losses on portfolio exits including Learneo ($5.6M loss) and Aventine ($2.5M loss). The company also disclosed a $20M Magnetar note financing and continued note repurchases, while liquid assets stand at $42.2M. For a BDC trading at $7.50, well below its estimated NAV, the NAV decline and portfolio losses are material.
How filings like this one have moved
In the 30 days to Oct 21, 2026, 29.2% of the 1544 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.49%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, NSLR was trading at $7.50 on NASDAQ in the Unknown sector, with a market capitalization of approximately $198.5M. The 52-week trading range was $7.04 to $14.98. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.